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

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Monday, November 4th will be paid a dividend of 0.33 per share by the financial services provider on Tuesday, November 12th. This represents a $1.32 annualized dividend and a yield of 5.28%. The ex-dividend date is Monday, November 4th.

Pacific Premier Bancorp has increased its dividend by an average of 8.6% annually over the last three years. Pacific Premier Bancorp has a payout ratio of 89.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Pacific Premier Bancorp to earn $1.48 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 89.2%.

Pacific Premier Bancorp Stock Performance

PPBI opened at $25.01 on Friday. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 192.38 and a beta of 1.22. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18. Pacific Premier Bancorp has a 1-year low of $17.86 and a 1-year high of $30.13. The company’s fifty day moving average price is $25.09 and its two-hundred day moving average price is $23.82.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). During the same period in the previous year, the company earned $0.48 EPS. On average, analysts expect that Pacific Premier Bancorp will post 1.64 EPS for the current fiscal year.

Insider Activity

In other news, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the transaction, the chief operating officer now directly owns 230,592 shares in the company, valued at approximately $5,448,888.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pacific Premier Bancorp news, Director Jeff C. Jones sold 11,251 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.62, for a total transaction of $265,748.62. Following the completion of the sale, the director now directly owns 123,794 shares in the company, valued at $2,924,014.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the sale, the chief operating officer now owns 230,592 shares in the company, valued at $5,448,888.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PPBI. Stephens lifted their price objective on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Raymond James upped their price objective on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Wedbush decreased their target price on Pacific Premier Bancorp from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.83.

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.