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

Key Points

• Pacific Premier Bancorp Inc has declared a quarterly dividend of $0.33 per share, with an annual yield of 5.85%, payable on August 15th to stockholders on record as of August 5th.
• The company reported earnings per share of $0.39 for the last quarter, exceeding the consensus estimate of $0.34, while revenue was slightly below expectations at $145.64 million.
• Analysts expect Pacific Premier Bancorp to have a future payout ratio of 85.7%, indicating it can continue to cover its annual dividend even if earnings slightly decline.

Pacific Premier Bancorp Inc (NASDAQ:PPBI - Get Free Report) announced a quarterly dividend on Wednesday, July 23rd, Wall Street Journal reports. Stockholders of record on Tuesday, August 5th will be paid a dividend of 0.33 per share by the financial services provider on Friday, August 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.95%. The ex-dividend date of this dividend is Tuesday, August 5th.

Pacific Premier Bancorp has a payout ratio of 86.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Research analysts expect Pacific Premier Bancorp to earn $1.54 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 85.7%.

Pacific Premier Bancorp Trading Down 0.8%

Shares of PPBI traded down $0.17 during trading hours on Tuesday, reaching $22.17. 1,010,939 shares of the company traded hands, compared to its average volume of 1,140,185. The company's fifty day moving average price is $21.58 and its two-hundred day moving average price is $22.16. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 15.61 and a beta of 1.16. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04. Pacific Premier Bancorp has a 12 month low of $18.06 and a 12 month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.05. Pacific Premier Bancorp had a net margin of 16.13% and a return on equity of 4.85%. The company had revenue of $145.64 million during the quarter, compared to analysts' expectations of $147.67 million. During the same period last year, the company posted $0.43 EPS. Equities research analysts predict that Pacific Premier Bancorp will post 1.34 earnings per share for the current fiscal year.

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 14,500 shares of Pacific Premier Bancorp stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $20.28, for a total value of $294,060.00. Following the completion of the transaction, the chief operating officer directly owned 140,283 shares of the company's stock, valued at approximately $2,844,939.24. The trade was a 9.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.29% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PPBI. Jane Street Group LLC purchased a new position in Pacific Premier Bancorp in the first quarter worth about $7,338,000. Royal Bank of Canada raised its holdings in shares of Pacific Premier Bancorp by 82.1% during the first quarter. Royal Bank of Canada now owns 83,881 shares of the financial services provider's stock valued at $1,788,000 after purchasing an additional 37,811 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Pacific Premier Bancorp by 31.2% during the first quarter. Intech Investment Management LLC now owns 79,904 shares of the financial services provider's stock valued at $1,704,000 after purchasing an additional 19,013 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Pacific Premier Bancorp by 1.4% during the first quarter. Millennium Management LLC now owns 696,922 shares of the financial services provider's stock valued at $14,858,000 after purchasing an additional 9,742 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Pacific Premier Bancorp by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,013 shares of the financial services provider's stock valued at $1,216,000 after purchasing an additional 2,485 shares during the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PPBI. Wall Street Zen began coverage on shares of Pacific Premier Bancorp in a research report on Thursday, May 22nd. They set a "sell" rating for the company. DA Davidson cut shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 24th.

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.