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

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

Pacific Premier Bancorp Trading Down 0.1 %

Shares of NASDAQ:PPBI traded down $0.02 during mid-day trading on Friday, reaching $22.14. The stock had a trading volume of 113,354 shares, compared to its average volume of 528,058. The firm has a market cap of $2.12 billion, a PE ratio of 170.47 and a beta of 1.21. The firm has a 50 day simple moving average of $23.02 and a two-hundred day simple moving average of $24.10. The company has a current ratio of 0.90, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18. Pacific Premier Bancorp has a twelve month low of $17.53 and a twelve month high of $30.13.

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, May 6th will be given a $0.33 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.96%. Pacific Premier Bancorp’s dividend payout ratio is 1,015.46%.

Analysts Set New Price Targets

PPBI has been the subject of a number of recent research reports. Raymond James restated an “outperform” rating and issued a $25.00 price objective (down previously from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday. StockNews.com upgraded shares of Pacific Premier Bancorp to a “sell” rating in a research note on Tuesday. TheStreet lowered shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Monday, January 29th. Keefe, Bruyette & Woods lowered their target price on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating on the stock in a report on Thursday. Finally, Stephens reaffirmed an “equal weight” rating and issued a $28.00 target price on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.17.

Insider Activity at Pacific Premier Bancorp

In related news, Director Barbara Polsky bought 1,200 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were purchased 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 of the company’s stock, valued at approximately $347,007.44. The purchase was disclosed in a filing with the SEC, which is available at this link. 2.21% of the stock is currently owned by corporate insiders.

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.