Pacific Premier Bancorp (NASDAQ:PPBI) Stock Price Up 5.5% Following Better-Than-Expected Earnings

Key Points

• Pacific Premier Bancorp shares increased by 5.5% following an announcement of better than expected quarterly earnings, reporting $0.39 earnings per share, which surpassed analysts' predictions of $0.34.
• The company generated revenue of $145.64 million for the quarter, slightly below analysts' expectations of $147.67 million.
• Pacific Premier Bancorp currently holds a consensus rating of "Hold" from analysts, with a price target of $27.25.
• Insider transactions reveal that COO Edward Earl Wilcox sold 14,500 shares, representing a 9.37% decrease in their position in the company.

Pacific Premier Bancorp Inc (NASDAQ:PPBI - Get Free Report) shares were up 5.5% on Friday following a better than expected earnings announcement. The stock traded as high as $22.14 and last traded at $22.32. Approximately 612,088 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 859,792 shares. The stock had previously closed at $21.16.

The financial services provider reported $0.39 earnings per share 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 firm had revenue of $145.64 million during the quarter, compared to analyst estimates of $147.67 million. During the same period last year, the firm posted $0.43 earnings per share.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date is Tuesday, August 5th. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 92.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wall Street Zen assumed coverage on shares of Pacific Premier Bancorp in a research note on Thursday, May 22nd. They issued a "sell" rating on the stock. DA Davidson downgraded shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 24th.

Insider Buying and Selling at Pacific Premier Bancorp

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

Institutional Trading of Pacific Premier Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. raised its holdings in shares of Pacific Premier Bancorp by 2.7% in the first quarter. Principal Financial Group Inc. now owns 480,207 shares of the financial services provider's stock valued at $10,238,000 after acquiring an additional 12,542 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Pacific Premier Bancorp in the first quarter valued at about $352,000. GAMMA Investing LLC raised its holdings in shares of Pacific Premier Bancorp by 47.9% in the first quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 741 shares in the last quarter. KBC Group NV raised its holdings in shares of Pacific Premier Bancorp by 11.0% in the first quarter. KBC Group NV now owns 5,501 shares of the financial services provider's stock valued at $117,000 after acquiring an additional 546 shares in the last quarter. Finally, MQS Management LLC bought a new stake in shares of Pacific Premier Bancorp in the first quarter valued at about $501,000. 93.11% of the stock is currently owned by institutional investors.

Pacific Premier Bancorp Price Performance

The stock has a market capitalization of $2.15 billion, a P/E ratio of 15.59 and a beta of 1.16. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a fifty day moving average of $21.58 and a two-hundred day moving average of $22.16.

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.