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

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Get Free Report) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Stockholders of record on Monday, November 4th will be given 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 dividend yield of 5.26%. The ex-dividend date of this dividend is Monday, November 4th.

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 payout ratio of 89.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. 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 Price Performance

Shares of Pacific Premier Bancorp stock traded up $0.08 on Friday, reaching $25.09. 532,276 shares of the company were exchanged, compared to its average volume of 544,998. Pacific Premier Bancorp has a fifty-two week low of $18.60 and a fifty-two week 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 fifty day moving average price of $25.09 and a 200-day moving average price of $23.82.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $224.49 million during the quarter, compared to analysts' expectations of $153.23 million. During the same quarter in the previous year, the firm posted $0.48 EPS. Sell-side analysts expect that Pacific Premier Bancorp will post 1.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, Director Jeff C. Jones sold 11,251 shares of the company's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $23.62, for a total value of $265,748.62. Following the transaction, the director now directly owns 123,794 shares of the company's stock, valued at approximately $2,924,014.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the transaction, the director now owns 123,794 shares in the company, valued at approximately $2,924,014.28. This 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 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 transaction of $720,691.37. Following the transaction, the chief operating officer now directly owns 230,592 shares in the company, valued at approximately $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 Ratings Changes

Several brokerages recently commented on PPBI. Wedbush reduced their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday. Raymond James increased their target price on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Finally, Stephens lifted their price target on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Thursday, July 25th. One 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's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $26.50.

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.