Pacific Premier Bancorp, Inc. (PPBI) To Go Ex-Dividend on August 5th

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) declared a quarterly dividend on Monday, July 22nd, Zacks reports. Investors of record on Monday, August 5th will be given a dividend of 0.33 per share by the financial services provider on Monday, August 12th. This represents a $1.32 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date is Monday, August 5th.

Pacific Premier Bancorp has increased its dividend payment by an average of 8.6% per year over the last three years. Pacific Premier Bancorp has a dividend payout ratio of 82.0% indicating that 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 $1.62 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 81.5%.

Pacific Premier Bancorp Stock Performance

Shares of Pacific Premier Bancorp stock traded down $1.16 on Friday, reaching $24.69. 719,203 shares of the company were exchanged, compared to its average volume of 670,553. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 189.94 and a beta of 1.24. Pacific Premier Bancorp has a 1-year low of $17.86 and a 1-year high of $30.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 0.89. The company’s 50-day moving average is $23.37 and its two-hundred day moving average is $23.58.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $154.62 million during the quarter, compared to analyst estimates of $162.23 million. During the same period in the prior year, the business earned $0.60 earnings per share. Pacific Premier Bancorp’s quarterly revenue was down 9.5% on a year-over-year basis. As a group, research analysts expect that Pacific Premier Bancorp will post 1.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PPBI has been the subject of several analyst reports. Stephens boosted their price objective on 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. DA Davidson decreased their price target on Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. StockNews.com upgraded shares of Pacific Premier Bancorp to a “sell” rating in a research note on Friday, May 17th. Keefe, Bruyette & Woods decreased their target price on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Finally, Raymond James boosted their price target on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.50.

Insider Buying and Selling

In other news, CFO Lori R. Wright sold 4,668 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $23.59, for a total transaction of $110,118.12. Following the completion of the sale, the chief financial officer now owns 31,259 shares in the company, valued at approximately $737,399.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.21% of the company’s stock.

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.