Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Announces $0.33 Quarterly Dividend

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) declared a quarterly dividend on Friday, January 24th,Wall Street Journal reports. Shareholders of record on Monday, February 3rd will be given a dividend of 0.33 per share by the financial services provider on Monday, February 10th. 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 has increased its dividend payment by an average of 0.8% annually over the last three years. Pacific Premier Bancorp has a payout ratio of 85.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Pacific Premier Bancorp to earn $1.32 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 100.0%.

Pacific Premier Bancorp Price Performance

NASDAQ PPBI traded up $0.05 during trading hours on Friday, reaching $24.97. The company’s stock had a trading volume of 758,408 shares, compared to its average volume of 471,838. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -166.46 and a beta of 1.26. The company’s 50-day moving average is $26.09 and its two-hundred day moving average is $25.68. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. Pacific Premier Bancorp has a 1-year low of $20.52 and a 1-year high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. On average, equities analysts predict that Pacific Premier Bancorp will post 1.59 EPS for the current year.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, EVP Michael S. Karr sold 10,290 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total value of $276,492.30. Following the sale, the executive vice president now owns 79,474 shares of the company’s stock, valued at $2,135,466.38. This trade represents a 11.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $27.96, for a total value of $259,273.08. Following the transaction, the executive vice president now directly owns 25,475 shares of the company’s stock, valued at approximately $712,281. This represents a 26.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on PPBI. Wedbush reduced their target price on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. DA Davidson decreased their price objective on Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.00.

About Pacific Premier Bancorp

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.