Pacific Premier Bancorp, Inc. operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. The company accepts deposit products, such as checking, money market, and 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, small business administration (SBA), and SBA paycheck protection program loans; revolving lines or credit, term loans, seasonal loans, and loans secured by liquid collateral; one-to-four family and home equity lines of credit loans; and savings account secured loans and auto loans. The company also offers cash management, electronic banking, treasury management, and online bill payment services. It operates 61 full-service depository branches located in Arizona, California, Nevada, Oregon, and Washington. Pacific Premier Bancorp, Inc. was founded in 1983 and is headquartered in Irvine, California.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. Piper Sandler reduced their price objective on Pacific Premier Bancorp to $41.00 in a research note on Monday, July 4th. Raymond James upgraded Pacific Premier Bancorp from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the stock from $41.00 to $35.00 in a research report on Thursday, July 7th. Finally, StockNews.com raised shares of Pacific Premier Bancorp from a "sell" rating to a "hold" rating in a report on Tuesday, May 31st.
Pacific Premier Bancorp Price Performance
PPBI Stock traded down $0.10 during mid-day trading on Monday, reaching $33.68. 224,205 shares of the company's stock were exchanged, compared to its average volume of 385,095. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.87 and a quick ratio of 0.87. Pacific Premier Bancorp has a 12-month low of $27.92 and a 12-month high of $45.24. The stock's 50 day moving average is $30.94 and its 200 day moving average is $33.96. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 10.33 and a beta of 1.24.
Pacific Premier Bancorp (NASDAQ:PPBI - Get Rating) last released its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.01. The firm had revenue of $195.00 million for the quarter, compared to analysts' expectations of $193.39 million. Pacific Premier Bancorp had a net margin of 38.46% and a return on equity of 11.07%. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. On average, research analysts expect that Pacific Premier Bancorp will post 2.96 EPS for the current year.
Pacific Premier Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Monday, August 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Friday, July 29th. Pacific Premier Bancorp's payout ratio is 40.37%.
Insiders Place Their Bets
In other Pacific Premier Bancorp news, Director Joseph L. Garrett sold 2,500 shares of the firm's stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $31.21, for a total value of $78,025.00. Following the transaction, the director now owns 83,075 shares in the company, valued at approximately $2,592,770.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.16% of the stock is owned by company insiders.