Pacific Premier Bancorp
Market Cap
US$1.8b
Last Updated
2020/02/20 00:01 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.
Rewards
Risk Analysis
Snowflake Analysis
Very undervalued with flawless balance sheet.
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 has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-0.5%
PPBI
-1.5%
US Banks
0.06%
US Market
1 Year Return
-0.4%
PPBI
9.7%
US Banks
19.4%
US Market
Return vs Industry: PPBI underperformed the US Banks industry which returned 9.7% over the past year.
Return vs Market: PPBI underperformed the US Market which returned 19.4% over the past year.
Shareholder returns
| PPBI | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.5% | -1.5% | 0.06% |
| 30 Day | -3.3% | -2.8% | 1.1% |
| 90 Day | -5.7% | 0.3% | 8.9% |
| 1 Year | 2.5%-0.4% | 12.9%9.7% | 21.9%19.4% |
| 3 Year | -23.8%-26.5% | 22.5%13.7% | 48.9%39.3% |
| 5 Year | 97.2%90.1% | 72.4%52.8% | 71.9%53.1% |
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
Should You Buy Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) For Its Upcoming Dividend In 3 Days?4 weeks ago | Simply Wall St
Here's Why I Think Pacific Premier Bancorp (NASDAQ:PPBI) Might Deserve Your Attention Today1 month ago | Simply Wall St
Did Business Growth Power Pacific Premier Bancorp's (NASDAQ:PPBI) Share Price Gain of 101%?Valuation
Is Pacific Premier Bancorp undervalued compared to its fair value and its price relative to the market?
21.1%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PPBI ($30.23) is trading below our estimate of fair value ($38.39)
Significantly Below Fair Value: PPBI is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: PPBI is good value based on its PE Ratio (11.4x) compared to the Banks industry average (12.6x).
PE vs Market: PPBI is good value based on its PE Ratio (11.4x) compared to the US market (18.3x).
Price to Earnings Growth Ratio
PEG Ratio: PPBI is good value based on its PEG Ratio (0.4x)
Price to Book Ratio
PB vs Industry: PPBI is good value based on its PB Ratio (0.9x) compared to the US Banks industry average (1.2x).
Next Steps
Future Growth
How is Pacific Premier Bancorp forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
27.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PPBI's forecast earnings growth (27.4% per year) is above the savings rate (1.7%).
Earnings vs Market: PPBI's earnings (27.4% per year) are forecast to grow faster than the US market (14.2% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: PPBI's revenue (24.5% per year) is forecast to grow faster than the US market (7.6% per year).
High Growth Revenue: PPBI's revenue (24.5% per year) is forecast to grow faster 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 (8.5%).
Next Steps
Past Performance
How has Pacific Premier Bancorp performed over the past 5 years?
44.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PPBI has high quality earnings.
Growing Profit Margin: PPBI's current net profit margins (33.5%) are higher than last year (29.7%).
Past Earnings Growth Analysis
Earnings Trend: PPBI's earnings have grown significantly by 44.4% per year over the past 5 years.
Accelerating Growth: PPBI's earnings growth over the past year (29.5%) is below its 5-year average (44.4% per year).
Earnings vs Industry: PPBI earnings growth over the past year (29.5%) exceeded the Banks industry 12.3%.
Return on Equity
High ROE: PPBI's Return on Equity (7.9%) is considered low.
Return on Assets
Return on Capital Employed
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
Inventory Level: PPBI has a low level of unsold assets or inventory.
Debt Coverage by Assets: PPBI's debt is not covered by short term assets (assets are 0.5x debt).
Financial Institutions Analysis
Asset Level: PPBI's level of assets compared to its equity is low.
Allowance for Bad Loans: PPBI has a sufficient allowance for bad loans.
Low Risk Liabilities: PPBI's liabilities are made up of primarily low risk sources of funding.
Loan Level: PPBI has an acceptable proportion of non-loan assets held.
Low Risk Deposits: PPBI's loans are broadly funded by customer deposits.
Level of Bad Loans: PPBI has an appropriate level of bad loans (0.1%)
Next Steps
Dividend
What is Pacific Premier Bancorp's current dividend yield, its reliability and sustainability?
3.31%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: PPBI's dividend (3.31%) is higher than the bottom 25% of dividend payers in the US market (1.43%).
High Dividend: PPBI's dividend (3.31%) is low compared to the top 25% of dividend payers in the US market (3.7%).
Stability and Growth of Payments
Stable Dividend: Too early to tell whether PPBI's dividend payments have been stable as they only just started paying a dividend.
Growing Dividend: Too early to tell if PPBI's dividend payments are increasing as they only just started paying a dividend.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (34.4%), PPBI's dividend payments are 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 (37.6% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
6.9yrs
Average management tenure
CEO
Steve Gardner (58yo)
19.5yrs
Tenure
US$4,655,512
Compensation
Mr. Steven R. Gardner, also known as Steve, serves as Chairman, President and Chief Executive Officer of Pacific Premier Bancorp, Inc. and Chairman and Chief Executive Officer of its primary operating subs ...
CEO Compensation Analysis
Compensation vs Market: Steve's total compensation ($USD4.66M) is about average for companies of similar size in the US market ($USD3.81M).
Compensation vs Earnings: Steve's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 19.5yrs | US$4.66m | 0.51% $9.2m | |
| Senior EVP & CFO | 3.8yrs | US$1.53m | 0.068% $1.2m | |
| Executive VP & Chief Accounting Officer | 1.4yrs | no data | 0.011% $196.4k | |
| Senior EVP | 0yrs | no data | 0.020% $361.6k | |
| Chief Lending Officer & Senior VP | 6.9yrs | no data | no data | |
| First Vice President and Treasurer | 4.4yrs | no data | no data | |
| Vice President of Seal Beach Branch and Branch Manager of Seal Beach Branch | 15.9yrs | no data | no data | |
| Vice President and Branch Manager of San Bernardino Banking Branch | 15.8yrs | no data | no data | |
| Vice President of Newport Beach Branch and Branch Manager of Newport Beach Branch | 12.9yrs | no data | no data | |
| Vice President and Relationship Manager | 6.9yrs | no data | no data |
6.9yrs
Average Tenure
53.5yo
Average Age
Experienced Management: PPBI's management team is seasoned and experienced (6.9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 19.5yrs | US$4.66m | 0.51% $9.2m | |
| Independent Director | 4.3yrs | US$123.26k | 0.031% $557.8k | |
| Independent Director | 0.8yrs | no data | no data | |
| Independent Director | 2.8yrs | US$129.01k | 0.049% $879.5k | |
| Independent Director | 1.6yrs | US$30.67k | 0.030% $545.6k | |
| Independent Director | 7.9yrs | US$131.51k | 0.13% $2.3m | |
| Lead Independent Director | 3.8yrs | US$135.57k | 0.21% $3.9m | |
| Independent Director | 4.1yrs | US$148.93k | 0.042% $753.2k | |
| Independent Director | 4.1yrs | US$128.93k | 0.50% $9.0m | |
| Director | 6.9yrs | US$119.01k | 0.057% $1.0m |
3.9yrs
Average Tenure
64yo
Average Age
Experienced Board: PPBI's board of directors are considered experienced (3.9 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: PPBI insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 11.8%.
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$1.799b
- Shares outstanding: 59.51m
- 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. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit. Its loan products include commercial business loans, lines of credit, small business administration loans, commercial real estate loans, agribusiness loans, home equity lines of credit, construction loans, farmland, and consumer loans, as well as multi-family residential, one-to-four family real estate, commercial and industrial, and franchise lending; and credit facilities to Homeowners’ Associations (HOA) and HOA management companies. The company also offers cash management, electronic banking, and online bill payment services. It operates 44 full-service depository branches in the counties of Orange, Los Angeles, Riverside, San Bernardino, San Diego, San Luis Obispo, and Santa Barbara, California; Pima and Maricopa Counties, Arizona; Clark County, Nevada; and Clark County, Washington. Pacific Premier Bancorp, Inc. was founded in 1983 and is headquartered in Irvine, California.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/20 00:01 |
| End of Day Share Price | 2020/02/19 00:00 |
| Earnings | 2019/12/31 |
| 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.