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. It also offers cash management, online and mobile banking, and treasury management services, as well as payment processing, remote capture, and automated clearing house payment capabilities. In addition, it operates as a custodian for alternative assets held in qualified self-directed IRA accounts, including investments in private equity, real estate, notes, cash, and other non-exchange traded assets; and provides real-property and non-real property escrow services. The company serves small and middle-market businesses, corporations, professionals, real estate investors, non-profit organizations, and consumers. The company was founded in 1983 and is headquartered in Irvine, California.

Pacific Premier Bancorp Inc

Looking at the universe of stocks we cover at Dividend Channel, in trading on Monday, shares of Pacific Premier Bancorp Inc (Symbol: PPBI) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.32), with the stock changing hands as low as $21.97 on the day. Dividends are particularly important for investors to consider, because historically speaking dividends have provided a considerable share of the stock market's total return. To illustrate, suppose for example you purchased shares of the iShares Russell 3000 ETF (IWV) back on 5/31/2000 — you would have paid $78.27 per share. Fast forward to 5/31/2012 and each share was worth $77.79 on that date, a loss of $0.48 or 0.6% decrease over twelve years. But now consider that you collected a whopping $10.77 per share in dividends over the same period, increasing your return to 13.15%. Even with dividends reinvested, that only amounts to an average annual total return of about 1.0%; so by comparison collecting a yield above 6% would appear considerably attractive if that yield is sustainable. Pacific Premier Bancorp Inc (Symbol: PPBI) is a member of the Russell 3000, giving it special status as one of the largest 3000 companies on the U.S. stock markets.
In general, dividend amounts are not always predictable and tend to follow the ups and downs of profitability at each company. In the case of Pacific Premier Bancorp Inc, looking at the history chart for PPBI below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 6% annual yield.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

PPBI Dividend Yield Pushes Above 6%

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the Invesco FTSE RAFI US 1000 ETF (Symbol: PRF), we found that the implied analyst target price for the ETF based upon its underlying holdings is $46.75 per unit.
With PRF trading at a recent price near $42.23 per unit, that means that analysts see 10.70% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of PRF's underlying holdings with notable upside to their analyst target prices are Delek US Holdings Inc (Symbol: DK), Pacific Premier Bancorp Inc (Symbol: PPBI), and Fulton Financial Corp. (Symbol: FULT). Although DK has traded at a recent price of $18.16/share, the average analyst target is 15.64% higher at $21.00/share. Similarly, PPBI has 13.22% upside from the recent share price of $25.74 if the average analyst target price of $29.14/share is reached, and analysts on average are expecting FULT to reach a target price of $22.83/share, which is 10.95% above the recent price of $20.58. Below is a twelve month price history chart comparing the stock performance of DK, PPBI, and FULT:
Below is a summary table of the current analyst target prices discussed above:
Name
Symbol
Recent Price
Avg. Analyst 12-Mo. Target
% Upside to Target
Invesco FTSE RAFI US 1000 ETF
PRF
$42.23
$46.75
10.70%
Delek US Holdings Inc
DK
$18.16
$21.00
15.64%
Pacific Premier Bancorp Inc
PPBI
$25.74
$29.14
13.22%
Fulton Financial Corp.
FULT
$20.58
$22.83
10.95%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Analysts See 11% Upside For PRF

Looking at the universe of stocks we cover at Dividend Channel, in trading on Thursday, shares of Pacific Premier Bancorp Inc (Symbol: PPBI) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.32), with the stock changing hands as low as $25.97 on the day. Dividends are particularly important for investors to consider, because historically speaking dividends have provided a considerable share of the stock market's total return. To illustrate, suppose for example you purchased shares of the iShares Russell 3000 ETF (IWV) back on 5/31/2000 — you would have paid $78.27 per share. Fast forward to 5/31/2012 and each share was worth $77.79 on that date, a loss of $0.48 or 0.6% decrease over twelve years. But now consider that you collected a whopping $10.77 per share in dividends over the same period, increasing your return to 13.15%. Even with dividends reinvested, that only amounts to an average annual total return of about 1.0%; so by comparison collecting a yield above 5% would appear considerably attractive if that yield is sustainable. Pacific Premier Bancorp Inc (Symbol: PPBI) is a member of the Russell 3000, giving it special status as one of the largest 3000 companies on the U.S. stock markets.
In general, dividend amounts are not always predictable and tend to follow the ups and downs of profitability at each company. In the case of Pacific Premier Bancorp Inc, looking at the history chart for PPBI below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 5% annual yield.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pacific Premier Bancorp (PPBI) Passes Through 5% Yield Mark

Looking at the universe of stocks we cover at Dividend Channel, on 5/3/24, Brown & Brown Inc (Symbol: BRO), Pacific Premier Bancorp Inc (Symbol: PPBI), and OceanFirst Financial Corp (Symbol: OCFC) will all trade ex-dividend for their respective upcoming dividends. Brown & Brown Inc will pay its quarterly dividend of $0.13 on 5/15/24, Pacific Premier Bancorp Inc will pay its quarterly dividend of $0.33 on 5/13/24, and OceanFirst Financial Corp will pay its quarterly dividend of $0.20 on 5/17/24. As a percentage of BRO's recent stock price of $81.54, this dividend works out to approximately 0.16%, so look for shares of Brown & Brown Inc to trade 0.16% lower — all else being equal — when BRO shares open for trading on 5/3/24. Similarly, investors should look for PPBI to open 1.53% lower in price and for OCFC to open 1.36% lower, all else being equal.
Below are dividend history charts for BRO, PPBI, and OCFC, showing historical dividends prior to the most recent ones declared.
Brown & Brown Inc (Symbol: BRO):
Pacific Premier Bancorp Inc (Symbol: PPBI):
OceanFirst Financial Corp (Symbol: OCFC):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 0.64% for Brown & Brown Inc, 6.14% for Pacific Premier Bancorp Inc, and 5.42% for OceanFirst Financial Corp.
In Wednesday trading, Brown & Brown Inc shares are currently trading flat, Pacific Premier Bancorp Inc shares are down about 2.2%, and OceanFirst Financial Corp shares are off about 1.5% on the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Ex-Dividend Reminder: Brown & Brown, Pacific Premier Bancorp and OceanFirst Financial

In this series, we look through the most recent Dividend Channel ''DividendRank'' report, and then we cherry pick only those companies that have experienced insider buying within the past six months. The officers and directors of a company tend to have a unique insider's view of the business, and presumably the only reason an insider would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So when stocks turn up that see insider buying, and are also top ranked, investors are wise to take notice. One such company is Pacific Premier Bancorp Inc (Symbol: PPBI), which saw buying by Director Barbara Polsky.
Back on March 21, Polsky invested $28,704.00 into 1,200 shares of PPBI, for a cost per share of $23.92. In trading on Wednesday, bargain hunters could buy shares of Pacific Premier Bancorp Inc (Symbol: PPBI) and achieve a cost basis 5.4% cheaper than Polsky, with shares changing hands as low as $22.64 per share. Pacific Premier Bancorp Inc shares are currently trading 0.00% on the day. The chart below shows the one year performance of PPBI shares, versus its 200 day moving average:
Looking at the chart above, PPBI's low point in its 52 week range is $17.53 per share, with $30.13 as the 52 week high point — that compares with a last trade of $22.93. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
The DividendRank report noted that among the coverage universe, PPBI shares displayed both attractive valuation metrics and strong profitability metrics. For example, the recent PPBI share price of $22.98 represents a price-to-book ratio of 0.8 and an annual dividend yield of 5.74% — by comparison, the average company in Dividend Channel's coverage universe yields 4.7% and trades at a price-to-book ratio of 2.2. The report also cited the strong quarterly dividend history at Pacific Premier Bancorp Inc, and favorable long-term multi-year growth rates in key fundamental data points.
The report stated, ''Dividend investors approaching investing from a value standpoint are generally most interested in researching the strongest most profitable companies, that also happen to be trading at an attractive valuation. That's what we aim to find using our proprietary DividendRank formula, which ranks the coverage universe based upon our various criteria for both profitability and valuation, to generate a list of the top most 'interesting' stocks, meant for investors as a source of ideas that merit further research.''
The annualized dividend paid by Pacific Premier Bancorp Inc is $1.32/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 02/08/2024. Below is a long-term dividend history chart for PPBI, which the report stressed as being of key importance. Indeed, studying a company's past dividend history can be of good help in judging whether the most recent dividend is likely to continue.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This Stock Has A 5.74% Yield, Sells For Less Than Book, and Insiders Have Been Buying

WASHINGTON, March 27 (Reuters) - U.S. banks with significant lending exposure to some multi-family properties and particularly rent-controlled housing are vulnerable to posting losses this year on rising costs facing landlords, according to Fitch Ratings analysts.
On a Wednesday call, Fitch Ratings analysts highlighted the risks facing banks which have underwritten loans behind apartment complexes and other multifamily properties.
Lending by banks to multifamily borrowers grew 32% since 2020 to $613 billion at the end of 2023, according to a March 19 report by Fitch.
But supply has begun to outstrip demand, creating downward pressure on the rents landlords can charge, Fitch noted during Wednesday's call. These landlords also face rising interest rates and insurance premiums, coupled with decreasing apartment values.
These factors have weighed on several regional banks with high exposure to the asset class, and in particular those most exposed to rent-controlled multifamily loans, where landlords face a ceiling on rent increases to offset rising costs.
"Especially in the more stringent rent-controlled areas, there is a limited ability to make up that difference," said Brian Thies, senior director at Fitch, on Wednesday's call.
"So I would say it can be a concern for loan performance at this point."
This was seen in late February, when regional bank New York Community Bancorp NYCB.N posted $2.7 billion in losses and a $552 million provision for credit losses in its fourth quarter, including on a New York-based rent-controlled multifamily loan.
Fitch highlighted 10 banks with the greatest multifamily loan exposure as of year-end 2023. Flagstar Bank FBCANK.UL , which merged with New York Community Bancorp in 2022, topped the list with 43.6% of its loan portfolio in multifamily.
Other banks with a high proportion of multifamily loans include First Foundation Bank, Dime Community Bank DIMCDB.UL , Pacific Premier Bank PPBI.O and Apple Bank for Savings PPBI.O , according to Fitch.
These and other banks are exposed to rent-controlled multifamily loan markets in states with stringent rent-control laws including California, New York, New Jersey and Oregon.
There were 49 banks at the end of 2023 with at least 5% of multifamily loans past due on their payments, the ratings agency noted. Most of these consisted of regional and community banks.
The most capital-constrained banks will likely look to sell more of these loans - and at a loss, the Fitch analysts noted.
"We would consider most U.S. banks as well-reserved currently for multifamily lending," Thies said.
"But it's generally going to come down to the value of the collateral and how readily the bank can dispose of that."
(Reporting by Matt Tracy; editing by Costas Pitas)
((Matt.Tracy@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

US banks face loss risk from multi-family property loan exposure, says Fitch

There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on March 21, Pacific Premier Bancorp Inc's Director, Barbara Polsky, invested $28,704.00 into 1,200 shares of PPBI, for a cost per share of $23.92. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Tuesday, bargain hunters could buy shares of Pacific Premier Bancorp Inc (Symbol: PPBI) and achieve a cost basis 4.6% cheaper than Polsky, with shares changing hands as low as $22.82 per share. Pacific Premier Bancorp Inc shares are currently trading up about 0.1% on the day. The chart below shows the one year performance of PPBI shares, versus its 200 day moving average:
Looking at the chart above, PPBI's low point in its 52 week range is $17.53 per share, with $30.13 as the 52 week high point — that compares with a last trade of $23.27. By comparison, below is a table showing the prices at which PPBI insider buying was recorded over the last six months:
The current annualized dividend paid by Pacific Premier Bancorp Inc is $1.32/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 02/08/2024. Below is a long-term dividend history chart for PPBI, which can be of good help in judging whether the most recent dividend with approx. 5.7% annualized yield is likely to continue.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Snatch This Bargain 5.7% Yielder Even Cheaper Than Director Polsky Did

In trading on Tuesday, shares of Pacific Premier Bancorp Inc (Symbol: PPBI) crossed below their 200 day moving average of $23.02, changing hands as low as $22.97 per share. Pacific Premier Bancorp Inc shares are currently trading off about 5.7% on the day. The chart below shows the one year performance of PPBI shares, versus its 200 day moving average:
Looking at the chart above, PPBI's low point in its 52 week range is $17.53 per share, with $34.43 as the 52 week high point — that compares with a last trade of $23.50.
Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

PPBI Makes Notable Cross Below Critical Moving Average

The following are today's upgrades for Validea's P/E/Growth Investor model based on the published strategy of Peter Lynch. This strategy looks for stocks trading at a reasonable price relative to earnings growth that also possess strong balance sheets.
HUBBELL INCORPORATED (HUBB) is a large-cap growth stock in the Electronic Instr. & Controls industry. The rating according to our strategy based on Peter Lynch changed from 0% to 87% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Hubbell Incorporated is a manufacturer of electrical and utility solutions for a range of customer and end market applications. Its Electrical Solutions segment comprises businesses that sell stock and custom products including standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, and other electrical equipment. Its Utility Solutions segment consists of businesses that design and manufacture various distribution, transmission, substation, and telecommunications products primarily used by the electric, water, gas and telecommunication utility industries. These offerings include advanced metering infrastructure, meter and edge devices, and software services. Its products are sold to various distributors and users, such as utilities, construction, and engineering firms. It is also a manufacturer of substation control and relay panels, as well as turnkey substation control building solutions.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of HUBBELL INCORPORATED
PACIFIC PREMIER BANCORP, INC. (PPBI) is a mid-cap value stock in the Money Center Banks industry. The rating according to our strategy based on Peter Lynch changed from 0% to 91% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Pacific Premier Bancorp, Inc. is a bank holding company. The Company operates through its wholly owned subsidiary, Pacific Premier Bank (the Bank). The Bank's loan portfolio includes commercial and industrial (C&I) and franchise lending, commercial owner-occupied business lending, commercial non-owner-occupied real estate lending, multifamily residential lending, construction lending, one-to-four family real estate lending, and consumer loans. It offers a range of deposit products and services, including checking, money market and savings accounts, electronic banking services, treasury management services, and online bill payment. It conducts business throughout the Western Region of the United States from its 59 full-service depository branches located in Arizona, California, Nevada, and Washington. It also provides commercial escrow and exchange services, which provides a variety of real-property and non-real property escrow services.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of PACIFIC PREMIER BANCORP, INC.
PNM RESOURCES INC (PNM) is a mid-cap growth stock in the Electric Utilities industry. The rating according to our strategy based on Peter Lynch changed from 87% to 91% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: PNM Resources, Inc. is a holding company with two regulated utilities, providing electricity and electric services in New Mexico and Texas. The Company's electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). PNM is an electric utility, which provides electric generation, transmission and distribution service to its rate-regulated customers. PNM's retail electric service territory covers an area of north-central New Mexico, including the cities of Albuquerque, Rio Rancho and Santa Fe, and certain areas of southern New Mexico. Other services provided by PNM include wholesale transmission services to third parties. TNMP provides transmission and distribution services in Texas. TNMP's transmission and distribution activities are solely within Electric Reliability Council of Texas (ERCOT), which is the independent system operator responsible for maintaining reliable operations for the bulk electric power supply system in Texas.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of PNM RESOURCES INC
FLOOR & DECOR HOLDINGS INC (FND) is a large-cap growth stock in the Constr. - Supplies & Fixtures industry. The rating according to our strategy based on Peter Lynch changed from 0% to 74% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Floor & Decor Holdings, Inc. is a multi-channel specialty retailer and commercial flooring distributor of hard surface flooring and related accessories. The Company offers an assortment of in-stock hard-surface flooring, including tile, wood, laminate, vinyl, and natural stone along with decorative accessories and wall tile, and installation materials. The Company offers its products to various customers, including professional installers and commercial businesses (Pro), Do it Yourself customers (DIY), and customers who buy the products for professional installation (Buy it Yourself or BIY). It primarily sells hard surface flooring and related accessories through retail stores located in the United States. The Company, through its subsidiary, Floor and Decor Outlets of America, Inc., operates approximately 191 warehouse-format stores and six small-format standalone design studios in 36 states as well as four distribution centers and an e-commerce site, flooranddecor.com.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of FLOOR & DECOR HOLDINGS INC
About Peter Lynch: Perhaps the greatest mutual fund manager of all-time, Lynch guided Fidelity Investment's Magellan Fund to a 29.2 percent average annual return from 1977 until his retirement in 1990, almost doubling the S&P 500's 15.8 percent yearly return over that time. Lynch's common sense approach and quick wit made him one of the most quoted investors on Wall Street. ("Go for a business that any idiot can run -- because sooner or later, any idiot probably is going to run it," is one of his many pearls of wisdom.) Lynch's bestseller One Up on Wall Street is something of a "stocks for the everyman/everywoman", breaking his approach down into easy-to-understand concepts.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Validea Peter Lynch Strategy Daily Upgrade Report - 1/31/2024

Financial stocks were advancing in late Tuesday afternoon trading, with the NYSE Financial Index adding 0.8% and the Financial Select Sector SPDR Fund (XLF) ahead 1.3%.
The Philadelphia Housing Index was up 0.9%, while the Real Estate Select Sector SPDR Fund (XLRE) was shedding 0.7%.
Bitcoin (BTC-USD) was increasing 0.5% to $43,510, and the yield for 10-year US Treasuries fell 3 basis points to 4.06%.
In economic news, US job openings rose to 9.026 million in December, according to the Bureau of Labor Statistics, compared with expectations for a drop to 8.75 million in a survey compiled by Bloomberg as of 7:50 am ET and up from a revised 8.925 million in November.
The Conference Board's measure of consumer confidence rose to 114.8 in January, the highest since December 2021, from a revised 108 in December, above the 114.5 estimate in a survey compiled by Bloomberg.
In corporate news, Pacific Premier Bancorp's (PPBI) shares fell 3.4% after Raymond James downgraded the company to outperform from strong buy following Q4 results.
UBS (UBS) handed pink slips to some of its senior bankers as it integrates Credit Suisse into the fold, Bloomberg reported Tuesday. UBS shares rose almost 1%.
MSCI (MSCI) shares jumped over 10% after the company reported higher Q4 adjusted earnings and operating revenue in addition to raising its quarterly dividend.
HarborOne Bancorp (HONE) reported a Q4 loss Tuesday of $0.17 per diluted share, compared with earnings of $0.21 a year earlier. Four analysts polled by Capital IQ expected earnings of $0.16. Its shares fell 3.1%
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pacific Premier Bancorp Inc

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