Pacific Premier Bancorp (NASDAQ:PPBI – Get Free Report) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01, Briefing.com reports. The firm had revenue of $239.21 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company earned $0.66 EPS.
Pacific Premier Bancorp Stock Up 0.2 %
NASDAQ:PPBI traded up $0.04 on Friday, hitting $22.20. The stock had a trading volume of 70,761 shares, compared to its average volume of 527,683. The firm’s fifty day simple moving average is $23.02 and its two-hundred day simple moving average is $24.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.90. Pacific Premier Bancorp has a 1 year low of $17.53 and a 1 year high of $30.13. The stock has a market cap of $2.13 billion, a P/E ratio of 170.47 and a beta of 1.21.
Pacific Premier Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, May 6th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.95%. The ex-dividend date of this dividend is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 1,015.46%.
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Analyst Upgrades and Downgrades
PPBI has been the subject of a number of research analyst reports. Wedbush reiterated a “neutral” rating and issued a $25.00 target price on shares of Pacific Premier Bancorp in a report on Thursday. Raymond James reiterated an “outperform” rating and set a $25.00 target price (down previously from $29.00) on shares of Pacific Premier Bancorp in a research report on Thursday. DA Davidson reduced their price target on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a report on Thursday. Stephens reiterated an “equal weight” rating and set a $28.00 price objective on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Finally, TheStreet downgraded Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $27.17.
Read Our Latest Report on PPBI
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.
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