Pacific Premier Bancorp (NASDAQ:PPBI) Announces Earnings Results, Beats Expectations By $0.01 EPS

Pacific Premier Bancorp (NASDAQ:PPBI) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01, Briefing.com reports. The business had revenue of $239.21 million during the quarter, compared to analysts’ expectations of $166.98 million. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. During the same quarter in the prior year, the business posted $0.66 earnings per share.

Pacific Premier Bancorp Price Performance

Shares of Pacific Premier Bancorp stock traded down $0.18 on Friday, hitting $21.98. The company’s stock had a trading volume of 771,200 shares, compared to its average volume of 536,396. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.90. Pacific Premier Bancorp has a 1 year low of $17.53 and a 1 year high of $30.13. The firm has a fifty day moving average price of $23.02 and a 200-day moving average price of $24.10. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 170.47 and a beta of 1.21.

Pacific Premier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, May 6th will be paid a $0.33 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.32 annualized dividend and a dividend yield of 6.01%. Pacific Premier Bancorp’s dividend payout ratio is presently 1,015.46%.

Analysts Set New Price Targets

PPBI has been the subject of a number of research reports. Stephens reissued an “equal weight” rating and set a $28.00 price target on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. Wedbush restated a “neutral” rating and set a $25.00 price objective on shares of Pacific Premier Bancorp in a report on Thursday. DA Davidson dropped their target price on Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday. Raymond James reissued an “outperform” rating and issued a $25.00 price objective (down previously from $29.00) on shares of Pacific Premier Bancorp in a research report on Thursday. Finally, Keefe, Bruyette & Woods lowered their price objective on Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Pacific Premier Bancorp presently has a consensus rating of “Hold” and a consensus price target of $27.17.

Insider Activity at Pacific Premier Bancorp

In other news, Director Barbara Polsky acquired 1,200 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were bought at an average cost of $23.92 per share, for a total transaction of $28,704.00. Following the acquisition, the director now owns 14,507 shares in the company, valued at approximately $347,007.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.21% of the stock is owned by company insiders.

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.