Pacific Premier Bancorp, Inc. (PPBI) to Issue Quarterly Dividend of $0.33 on May 13th

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Monday, May 6th will be given a dividend of 0.33 per share by the financial services provider on Monday, May 13th. This represents a $1.32 annualized dividend and a dividend yield of 5.96%. The ex-dividend date is Friday, May 3rd.

Pacific Premier Bancorp has raised its dividend by an average of 8.6% per year over the last three years. Pacific Premier Bancorp has a payout ratio of 62.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pacific Premier Bancorp to earn $2.11 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 62.6%.

Pacific Premier Bancorp Price Performance

Pacific Premier Bancorp stock opened at $22.16 on Friday. Pacific Premier Bancorp has a 12-month low of $17.53 and a 12-month high of $30.13. The stock has a market capitalization of $2.12 billion, a P/E ratio of 170.47 and a beta of 1.21. The firm’s 50-day moving average is $23.02 and its two-hundred day moving average is $24.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.93.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. The business had revenue of $239.21 million for the quarter, compared to analyst estimates 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 firm posted $0.66 EPS. Equities analysts predict that Pacific Premier Bancorp will post 1.93 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PPBI. Keefe, Bruyette & Woods cut their price objective 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. Wedbush reiterated a “neutral” rating and set a $25.00 price objective on shares of Pacific Premier Bancorp in a report on Thursday. StockNews.com upgraded shares of Pacific Premier Bancorp to a “sell” rating in a report on Tuesday. DA Davidson cut their price target on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Stephens restated an “equal weight” rating and issued a $28.00 price target on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.17.

Insider Activity

In other news, Director Barbara Polsky acquired 1,200 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were bought at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the completion of the purchase, the director now directly owns 14,507 shares of the company’s stock, valued at approximately $347,007.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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.