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

Pacific Premier Bancorp, Inc. (NASDAQ:PPBIGet Rating) declared a quarterly dividend on Friday, April 22nd, Zacks reports. Shareholders of record on Friday, May 6th will be given a dividend of 0.33 per share by the financial services provider on Friday, May 13th. This represents a $1.32 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Thursday, May 5th.

Pacific Premier Bancorp has a payout ratio of 40.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pacific Premier Bancorp to earn $3.21 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 41.1%.

PPBI opened at $31.52 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50 day simple moving average is $35.55 and its two-hundred day simple moving average is $38.98. Pacific Premier Bancorp has a 1-year low of $30.81 and a 1-year high of $47.46. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 8.88 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBIGet Rating) last released its quarterly earnings results on Tuesday, April 26th. The financial services provider reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.04). Pacific Premier Bancorp had a net margin of 42.15% and a return on equity of 11.95%. The firm had revenue of $187.70 million for the quarter, compared to analysts’ expectations of $190.69 million. During the same period in the previous year, the firm posted $0.72 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities analysts anticipate that Pacific Premier Bancorp will post 2.93 earnings per share for the current fiscal year.

Several analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Friday. StockNews.com assumed coverage on shares of Pacific Premier Bancorp in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Stephens downgraded shares of Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $50.00 to $45.00 in a report on Tuesday, January 25th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Pacific Premier Bancorp currently has an average rating of “Hold” and an average price target of $44.75.

Several hedge funds have recently modified their holdings of the stock. Thrivent Financial for Lutherans grew its stake in shares of Pacific Premier Bancorp by 0.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 76,787 shares of the financial services provider’s stock worth $3,074,000 after purchasing an additional 281 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Pacific Premier Bancorp by 42.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,215 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 363 shares during the last quarter. LPL Financial LLC lifted its position in Pacific Premier Bancorp by 6.3% in the third quarter. LPL Financial LLC now owns 6,487 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 382 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Pacific Premier Bancorp by 42.4% in the fourth quarter. Advisors Asset Management Inc. now owns 1,694 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 504 shares during the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new stake in Pacific Premier Bancorp in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 91.89% of the company’s stock.

About Pacific Premier Bancorp (Get Rating)

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.

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Dividend History for Pacific Premier Bancorp (NASDAQ:PPBI)

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