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

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) declared a quarterly dividend on Tuesday, January 21st,Wall Street Journal reports. Stockholders of record on Monday, February 3rd will be paid 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 dividend yield of 5.10%. The ex-dividend date is Monday, February 3rd.

Pacific Premier Bancorp has increased its dividend by an average of 0.8% per year over the last three years. Pacific Premier Bancorp has a dividend 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. Research analysts expect Pacific Premier Bancorp to earn $1.56 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 84.6%.

Pacific Premier Bancorp Stock Performance

Shares of Pacific Premier Bancorp stock opened at $25.90 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $25.83 and a 200 day simple moving average of $25.76. Pacific Premier Bancorp has a fifty-two week low of $20.52 and a fifty-two week high of $30.28. The firm has a market cap of $2.50 billion, a P/E ratio of 15.79 and a beta of 1.26.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Thursday, January 23rd. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. Sell-side analysts predict that Pacific Premier Bancorp will post 1.34 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Analysts Set New Price Targets

PPBI has been the topic of several recent research reports. 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 reduced their price objective on shares of Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. One equities research 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, the stock currently has a consensus rating of “Hold” and a consensus 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.