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

Pacific Premier Bancorp (NASDAQ:PPBI) announced its earnings results on Thursday. The financial services provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01), Briefing.com reports. The company had revenue of $224.49 million during the quarter, compared to analysts’ expectations of $153.23 million. During the same period last year, the firm posted $0.48 EPS.

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI opened at $25.09 on Friday. Pacific Premier Bancorp has a twelve month low of $18.60 and a twelve month high of $30.13. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.42 billion, a P/E ratio of -627.09 and a beta of 1.22. The company’s 50-day simple moving average is $25.09 and its 200 day simple moving average is $23.84.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th will be given a dividend of $0.33 per share. The ex-dividend date is Monday, November 4th. This represents a $1.32 annualized dividend and a dividend yield of 5.26%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is currently -3,299.18%.

Analyst Upgrades and Downgrades

PPBI has been the subject of several research reports. Stephens increased their price objective on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Raymond James increased their price target on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Wedbush dropped their price objective on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” 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 issued a buy rating to the stock. According to data from MarketBeat.com, Pacific Premier Bancorp presently has an average rating of “Hold” and a consensus target price of $26.50.

Insiders Place Their Bets

In other news, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was 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 of the company’s stock, valued at approximately $5,448,888.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Jeff C. Jones sold 11,251 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.62, for a total transaction of $265,748.62. Following the completion of the sale, the director now owns 123,794 shares of the company’s stock, valued at approximately $2,924,014.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Edward Earl Wilcox sold 30,499 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was 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 $5,448,888.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.21% of the company’s stock.

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.