Pacific Premier Bancorp
Market Cap
US$2.9b
Last Updated
2020/11/26 23:19 UTC
Data Sources
Company Financials +
Executive Summary
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. More Details
Snowflake Analysis
Flawless balance sheet with reasonable growth potential.
Similar Companies
Share Price & News
How has Pacific Premier Bancorp's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: PPBI is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.
Volatility Over Time: PPBI's weekly volatility (7%) has been stable over the past year.
Market Performance
7 Day Return
4.1%
PPBI
5.7%
US Banks
2.1%
US Market
1 Year Return
-5.0%
PPBI
-17.0%
US Banks
19.8%
US Market
Return vs Industry: PPBI exceeded the US Banks industry which returned -17% over the past year.
Return vs Market: PPBI underperformed the US Market which returned 19.7% over the past year.
Shareholder returns
| PPBI | Industry | Market | |
|---|---|---|---|
| 7 Day | 4.1% | 5.7% | 2.1% |
| 30 Day | 21.5% | 23.3% | 8.1% |
| 90 Day | 35.3% | 18.5% | 6.0% |
| 1 Year | -0.7%-5.0% | -14.0%-17.0% | 22.5%19.8% |
| 3 Year | -17.1%-22.9% | -3.3%-11.4% | 46.5%36.8% |
| 5 Year | 43.6%33.5% | 40.4%22.9% | 96.9%75.3% |
Long-Term Price Volatility Vs. Market
How volatile is Pacific Premier Bancorp's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall St
Dividend Investors: Don't Be Too Quick To Buy Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) For Its Upcoming Dividend4 weeks ago | Simply Wall St
Pacific Premier Bancorp, Inc. Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next1 month ago | Simply Wall St
Is Pacific Premier Bancorp, Inc.'s (NASDAQ:PPBI) 4.1% Dividend Sustainable?Valuation
Is Pacific Premier Bancorp undervalued compared to its fair value and its price relative to the market?
64.61x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: PPBI ($30.54) is trading above our estimate of fair value ($21.09)
Significantly Below Fair Value: PPBI is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: PPBI is poor value based on its PE Ratio (64.6x) compared to the US Banks industry average (11.5x).
PE vs Market: PPBI is poor value based on its PE Ratio (64.6x) compared to the US market (19.7x).
Price to Earnings Growth Ratio
PEG Ratio: PPBI is good value based on its PEG Ratio (0.9x)
Price to Book Ratio
PB vs Industry: PPBI is overvalued based on its PB Ratio (1.1x) compared to the US Banks industry average (0.9x).
Next Steps
Future Growth
How is Pacific Premier Bancorp forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
75.6%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PPBI's forecast earnings growth (75.6% per year) is above the savings rate (2.2%).
Earnings vs Market: PPBI's earnings (75.6% per year) are forecast to grow faster than the US market (22% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: PPBI's revenue (12.4% per year) is forecast to grow faster than the US market (10.2% per year).
High Growth Revenue: PPBI's revenue (12.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PPBI's Return on Equity is forecast to be low in 3 years time (7.5%).
Next Steps
Past Performance
How has Pacific Premier Bancorp performed over the past 5 years?
25.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PPBI has a large one-off loss of $44.5M impacting its September 30 2020 financial results.
Growing Profit Margin: PPBI's current net profit margins (8.7%) are lower than last year (32.8%).
Past Earnings Growth Analysis
Earnings Trend: PPBI's earnings have grown significantly by 25.8% per year over the past 5 years.
Accelerating Growth: PPBI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: PPBI had negative earnings growth (-78.8%) over the past year, making it difficult to compare to the Banks industry average (-4.3%).
Return on Equity
High ROE: PPBI's Return on Equity (1.3%) is considered low.
Next Steps
Financial Health
How is Pacific Premier Bancorp's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: PPBI's Assets to Equity ratio (7.4x) is low.
Allowance for Bad Loans: PPBI has a sufficient allowance for bad loans (1038%).
Low Risk Liabilities: 95% of PPBI's liabilities are made up of primarily low risk sources of funding.
Loan Level: PPBI has an appropriate level of Loans to Assets ratio (66%).
Low Risk Deposits: PPBI's Loans to Deposits ratio (81%) is appropriate.
Level of Bad Loans: PPBI has an appropriate level of bad loans (0.2%).
Next Steps
Dividend
What is Pacific Premier Bancorp current dividend yield, its reliability and sustainability?
3.67%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: PPBI's dividend (3.67%) is higher than the bottom 25% of dividend payers in the US market (1.47%).
High Dividend: PPBI's dividend (3.67%) is low compared to the top 25% of dividend payers in the US market (4.05%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, PPBI has been paying a dividend for less than 10 years.
Growing Dividend: PPBI's dividend payments have increased, but the company has only paid a dividend for 2 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (217.9%), PPBI's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: PPBI's dividends in 3 years are forecast to be well covered by earnings (49.9% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
7.7yrs
Average management tenure
CEO
Steve Gardner (59 yo)
20.25yrs
Tenure
US$5,279,253
Compensation
Mr. Steven R. Gardner, also known as Steve, serves as Chairman, President and Chief Executive Officer of Pacific Premier Bancorp, Inc. (NASDAQ: PPBI) and Chairman and Chief Executive Officer of its primary...
CEO Compensation Analysis
Compensation vs Market: Steve's total compensation ($USD5.28M) is about average for companies of similar size in the US market ($USD5.15M).
Compensation vs Earnings: Steve's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 20.25yrs | US$5.28m | 0.41% $ 11.8m | |
| Senior EVP & CFO | 4.5yrs | US$1.83m | 0.075% $ 2.2m | |
| Executive VP & Chief Accounting Officer | 2.17yrs | no data | 0.019% $ 534.4k | |
| Chief Lending Officer & Senior VP | 7.67yrs | no data | no data | |
| First Vice President and Treasurer | 5.17yrs | no data | no data | |
| Corporate Secretary | no data | no data | 0.018% $ 518.0k | |
| Vice President of Seal Beach Branch and Branch Manager of Seal Beach Branch | 16.67yrs | no data | no data | |
| Vice President and Branch Manager of San Bernardino Banking Branch | 16.5yrs | no data | no data | |
| Vice President of Newport Beach Branch and Branch Manager of Newport Beach Branch | 13.67yrs | no data | no data | |
| Vice President and Relationship Manager | 7.67yrs | no data | no data |
7.7yrs
Average Tenure
54yo
Average Age
Experienced Management: PPBI's management team is seasoned and experienced (7.7 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 20.25yrs | US$5.28m | 0.41% $ 11.8m | |
| Independent Director | 1.5yrs | US$21.86k | 0.0037% $ 106.9k | |
| Independent Director | 5.08yrs | US$106.40k | 0.023% $ 670.5k | |
| Independent Director | 1.5yrs | US$21.95k | 0.0037% $ 106.9k | |
| Independent Director | 2.33yrs | US$122.21k | 0.023% $ 658.1k | |
| Independent Director | 8.67yrs | US$112.14k | 0.086% $ 2.5m | |
| Lead Independent Director | 4.5yrs | US$135.75k | 0.14% $ 4.0m | |
| Independent Director | 4.83yrs | US$151.37k | 0.030% $ 867.9k | |
| Independent Director | 4.83yrs | US$129.10k | 0.32% $ 9.2m | |
| Director | 0.42yr | no data | 0.0098% $ 282.8k |
4.5yrs
Average Tenure
65yo
Average Age
Experienced Board: PPBI's board of directors are considered experienced (4.5 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: PPBI insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 59%.
Top Shareholders
Company Information
Pacific Premier Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Pacific Premier Bancorp, Inc.
- Ticker: PPBI
- Exchange: NasdaqGS
- Founded: 1983
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$2.883b
- Shares outstanding: 94.39m
- Website: https://www.ppbi.com
Number of Employees
Location
- Pacific Premier Bancorp, Inc.
- 17901 Von Karman Avenue
- Suite 1200
- Irvine
- California
- 92614
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| PPBI | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Jun 1997 |
Biography
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....
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/11/26 23:19 |
| End of Day Share Price | 2020/11/25 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.