NasdaqGS:PPBI

Stock Analysis Report

Pacific Premier Bancorp

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.

Snowflake

Fundamentals

Flawless balance sheet with proven track record.


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


Market Performance


7 Day Return

3.9%

PPBI

4.1%

US Banks

1.0%

US Market


1 Year Return

0.8%

PPBI

7.2%

US Banks

8.0%

US Market

Return vs Industry: PPBI underperformed the US Banks industry which returned 7.2% over the past year.

Return vs Market: PPBI underperformed the US Market which returned 8% over the past year.


Shareholder returns

PPBIIndustryMarket
7 Day3.9%4.1%1.0%
30 Day0.4%2.8%-0.07%
90 Day5.7%2.9%-1.0%
1 Year3.0%0.8%10.3%7.2%10.4%8.0%
3 Year31.4%28.6%53.9%43.3%46.2%36.7%
5 Year112.2%107.7%71.9%53.1%64.3%46.2%

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

Valuation

Is Pacific Premier Bancorp undervalued compared to its fair value and its price relative to the market?

13.64x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PPBI ($31.9) is trading above our estimate of fair value ($30.52)

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 (13.6x) compared to the Banks industry average (12.6x).

PE vs Market: PPBI is good value based on its PE Ratio (13.6x) compared to the US market (17.6x).


Price to Earnings Growth Ratio

PEG Ratio: PPBI is poor value based on its PEG Ratio (7.1x)


Price to Book Ratio

PB vs Industry: PPBI is good value based on its PB Ratio (1x) 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?

1.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PPBI's forecast earnings growth (1.9% per year) is below the savings rate (2.7%).

Earnings vs Market: PPBI's earnings (1.9% per year) are forecast to grow slower than the US market (14.5% per year).

High Growth Earnings: PPBI's earnings are forecast to grow, but not significantly.

Revenue vs Market: PPBI's revenue (2.3% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: PPBI's revenue (2.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if PPBI's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Pacific Premier Bancorp performed over the past 5 years?

45.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: PPBI's earnings have grown significantly by 45.2% per year over the past 5 years.

Accelerating Growth: PPBI's earnings growth over the past year (57.6%) exceeds its 5-year average (45.2% per year).

Earnings vs Industry: PPBI earnings growth over the past year (57.6%) exceeded the Banks industry 30.1%.


Return on Equity

High ROE: PPBI's Return on Equity (7.3%) is considered low.


Return on Assets

ROA vs Industry: PPBI has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate PPBI's Return on Capital Employed to determine if it has improved over the past 3 years.


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 (0.09%)


Next Steps

Dividend

What is Pacific Premier Bancorp's current dividend yield, its reliability and sustainability?

2.76%

Current Dividend Yield


Dividend Yield vs Market

company2.8%marketbottom25%1.4%markettop25%3.7%industryaverage3.0%forecastin3Years2.8%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: PPBI's dividend (2.76%) is higher than the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: PPBI's dividend (2.76%) is low compared to the top 25% of dividend payers in the US market (3.68%).

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 (28.2%), PPBI's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Pacific Premier Bancorp's salary, the management and board of directors tenure and is there insider trading?

6.6yrs

Average management tenure


CEO

Steve Gardner (58yo)

19.2yrs

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 ($USD4.66M) is about average for companies of similar size in the US market ($USD4.07M).

Compensation vs Earnings: Steve's compensation has been consistent with company performance over the past year.


Management Age and Tenure

6.6yrs

Average Tenure

53.5yo

Average Age

Experienced Management: PPBI's management team is seasoned and experienced (6.6 years average tenure).


Board Age and Tenure

3.6yrs

Average Tenure

64yo

Average Age

Experienced Board: PPBI's board of directors are considered experienced (3.6 years average tenure).


Insider Trading

Insider Buying: PPBI insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$28,78008 Aug 19
Joseph Garrett
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,000
Max PriceUS$28.78
SellUS$1,302,56702 Mar 19
Steven Gardner
EntityIndividual
Role
Chief Executive Officer
Chairman
Shares43,535
Max PriceUS$29.92
BuyUS$26,72013 Dec 18
Ronald Nicolas
EntityIndividual
Role
Chief Financial Officer
Senior EVP & CFO
Shares1,000
Max PriceUS$26.72
BuyUS$28,73006 Dec 18
Ronald Nicolas
EntityIndividual
Role
Chief Financial Officer
Senior EVP & CFO
Shares1,000
Max PriceUS$28.73
BuyUS$29,38816 Nov 18
Ronald Nicolas
EntityIndividual
Role
Chief Financial Officer
Senior EVP & CFO
Shares1,000
Max PriceUS$29.39

Ownership Breakdown


Management Team

  • Steve Gardner (58yo)

    Chairman

    • Tenure: 19.2yrs
    • Compensation: US$4.66m
  • Jorge Díaz-Irizarry (64yo)

    Vice President of Seal Beach Branch and Branch Manager of Seal Beach Branch

    • Tenure: 15.6yrs
  • Katherine Hage

    Vice President and Branch Manager of San Bernardino Banking Branch

    • Tenure: 15.4yrs
  • Ron Nicolas (60yo)

    Senior EVP & CFO

    • Tenure: 3.4yrs
    • Compensation: US$1.53m
  • Diana Treadway

    Vice President of Newport Beach Branch and Branch Manager of Newport Beach Branch

    • Tenure: 12.6yrs
  • Mark Whalen

    Chief Lending Officer & Senior VP

    • Tenure: 6.6yrs
  • Dori Kagan

    Vice President and Relationship Manager

    • Tenure: 6.6yrs
  • Steve Arnold (49yo)

    Senior EVP

    • Tenure: 0yrs
  • John Mangold (43yo)

    First Vice President and Treasurer

    • Tenure: 4.1yrs
  • Lori Wright (39yo)

    Executive VP & Chief Accounting Officer

    • Tenure: 1.1yrs

Board Members

  • Cora Tellez (69yo)

    Independent Director

    • Tenure: 4yrs
    • Compensation: US$123.26k
  • Steve Gardner (58yo)

    Chairman

    • Tenure: 19.2yrs
    • Compensation: US$4.66m
  • Jaynie Studenmund (65yo)

    Independent Director

    • Tenure: 0.4yrs
  • Michael Morris (73yo)

    Independent Director

    • Tenure: 2.5yrs
    • Compensation: US$129.01k
  • Chris Mitchell (64yo)

    Independent Director

    • Tenure: 1.3yrs
    • Compensation: US$30.67k
  • Joe Garrett (70yo)

    Independent Director

    • Tenure: 7.6yrs
    • Compensation: US$131.51k
  • Jeff Jones (64yo)

    Lead Independent Director

    • Tenure: 3.4yrs
    • Compensation: US$135.57k
  • Zareh Sarrafian (55yo)

    Independent Director

    • Tenure: 3.8yrs
    • Compensation: US$148.93k
  • Ayad Fargo (58yo)

    Independent Director

    • Tenure: 3.8yrs
    • Compensation: US$128.93k
  • John Carona (63yo)

    Director

    • Tenure: 6.6yrs
    • Compensation: US$119.01k

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$1.926b
  • Shares outstanding: 60.36m
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PPBINasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJun 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 23:37
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.