Pacific Premier Bancorp (NASDAQ:PPBI) Announces Earnings Results

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) released its earnings results on Thursday. The financial services provider reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01), Briefing.com reports. The firm had revenue of $224.49 million during the quarter, compared to the consensus estimate of $153.23 million. During the same quarter last year, the firm earned $0.48 EPS.

Pacific Premier Bancorp Price Performance

Shares of PPBI traded up $0.08 during midday trading on Friday, hitting $25.09. 532,276 shares of the company traded hands, compared to its average volume of 544,998. Pacific Premier Bancorp has a one year low of $18.60 and a one year high of $30.13. The firm has a market cap of $2.42 billion, a P/E ratio of -627.09 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a 50-day moving average of $25.09 and a 200-day moving average of $23.82.

Pacific Premier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date is Monday, November 4th. Pacific Premier Bancorp's payout ratio is presently -3,299.18%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. 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 report on Thursday, July 25th. Wedbush cut their price target on Pacific Premier Bancorp from $27.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday. Finally, Raymond James boosted 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. One investment analyst has rated the stock with a sell rating, three have issued 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 an average target price of $26.50.

Insider Activity

In other Pacific Premier Bancorp news, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 123,794 shares in the company, valued at $2,924,014.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Pacific Premier Bancorp news, Director Jeff C. Jones sold 11,251 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the sale, the director now owns 123,794 shares of the company's stock, valued at $2,924,014.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Edward Earl Wilcox sold 30,499 shares of the business's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.63, for a total value of $720,691.37. Following the transaction, the chief operating officer now directly owns 230,592 shares of the company's stock, 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. 2.21% of the stock is owned by company insiders.

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.