Pacific Premier Bancorp (NASDAQ:PPBI) Releases Earnings Results, Beats Expectations By $0.03 EPS

Pacific Premier Bancorp (NASDAQ:PPBI) announced its quarterly earnings results on Thursday. The financial services provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03, Zacks reports.

Pacific Premier Bancorp Trading Up 0.2 %

NASDAQ:PPBI opened at $24.97 on Friday. Pacific Premier Bancorp has a twelve month low of $20.52 and a twelve month high of $30.28. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $26.04 and a two-hundred day moving average price of $25.70.

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend is Monday, February 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is currently -879.94%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, EVP Margaret S. Ohlhaver sold 9,273 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $27.96, for a total transaction of $259,273.08. Following the completion of the transaction, the executive vice president now owns 25,475 shares of the company’s stock, valued at $712,281. This represents a 26.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael S. Karr sold 10,290 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total transaction of $276,492.30. Following the completion of the transaction, the executive vice president now directly owns 79,474 shares of the company’s stock, valued at $2,135,466.38. This represents a 11.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Wall Street Analyst Weigh In

PPBI has been the subject of a number of recent analyst reports. DA Davidson lowered their price target on Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday. Wedbush decreased their price objective on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.00.

Pacific Premier Bancorp Company Profile

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides various banking products and services in the United States. The company accepts deposit products, which includes checking, money market, savings accounts, and certificates of deposit. Its loan portfolio includes commercial real estate owner and non-owner-occupied, multifamily, construction and land, franchise real estate secured, and small business administration (SBA); revolving lines of credit, term loans, seasonal loans, and loans secured by liquid collateral; one-to-four family and home equity lines of credit loans; and small balance personal unsecured loans and savings account secured loans.