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

Pacific Premier Bancorp (NASDAQ:PPBI) issued its quarterly earnings data on Thursday. The financial services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates 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 in the prior year, the business earned $0.48 EPS.

Pacific Premier Bancorp Stock Up 0.3 %

Pacific Premier Bancorp stock opened at $25.09 on Friday. Pacific Premier Bancorp has a 12 month low of $18.60 and a 12 month high of $30.13. The stock has a market capitalization of $2.42 billion, a PE 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 business has a 50 day simple moving average of $25.09 and a 200-day simple moving average of $23.84.

Pacific Premier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Monday, November 4th will be paid a $0.33 dividend. The ex-dividend date of this dividend 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 is presently -3,299.18%.

Insider Activity

In related news, Director Jeff C. Jones sold 11,251 shares of the firm’s stock in a transaction dated 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction 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 sale, the chief operating officer now 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction dated 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 $2,924,014.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on PPBI shares. Wedbush reduced their target price on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday. Stephens increased their target price on shares of 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. Finally, Raymond James lifted their price target on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Pacific Premier Bancorp currently has an average rating of “Hold” and a consensus price target of $26.50.

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.