In a recent transaction, Tamara Wendoll, the President of Pacific Premier Trust, a division of Pacific Premier Bancorp Inc. (NASDAQ:PPBI), acquired shares of the company's common stock. The purchase, which took place on May 13, 2024, involved 43.234 shares at a price of $23.135 per share, amounting to a total of $1,000.
This acquisition is part of the company's dividend reinvestment plan, which is sponsored by a broker-dealer. Following this transaction, Wendoll's direct ownership in Pacific Premier Bancorp Inc. has increased to a total of 24,152.234 shares. It is important to note that this figure includes 21,078 shares of restricted stock. These shares are subject to a vesting schedule and may be forfeited under certain conditions as specified in the restricted stock grant.
The purchase reflects a continued commitment by the executive to the company, as participating in the dividend reinvestment plan often signals confidence in the firm's future prospects. As President of one of the company's divisions, Wendoll's investment decisions are closely watched by investors and market analysts.
Pacific Premier Bancorp Inc., headquartered in Irvine, California, operates as a state commercial bank and is incorporated in Delaware. The company, through its subsidiaries, offers banking products and services to businesses, professionals, and individuals in the United States.
Investors and stakeholders of Pacific Premier Bancorp Inc. can stay informed about the company's latest financial transactions and executive stock ownership through regular disclosures to the Securities and Exchange Commission.
InvestingPro Insights
Following the recent stock acquisition by Tamara Wendoll, President of Pacific Premier Trust, investors may gain additional insights into Pacific Premier Bancorp Inc. (NASDAQ:PPBI) through metrics and analysis provided by InvestingPro. The company's Market Cap stands at $2.26 billion, reflecting its current valuation in the market. However, the high P/E Ratio of 166.45, which adjusts to 176.02 for the last twelve months as of Q1 2024, indicates that the stock is trading at a premium relative to its earnings. This could be a signal to investors about the market's growth expectations for the company.
Despite a notable decline in revenue growth of -46.13% over the last twelve months as of Q1 2024, the InvestingPro Tips point out that net income is expected to grow this year, which may suggest a potential turnaround or cost management improvements. Additionally, the company's dividend yield stands at a substantial 5.63%, which may appeal to income-focused investors, especially considering the executive's participation in the dividend reinvestment plan.
Investors should note that while Pacific Premier Bancorp Inc. is forecasted to be profitable this year, with a positive basic and diluted EPS of $0.14, the company is also experiencing weak gross profit margins. This could be a concern for those looking at the fundamental health of the company. Moreover, the presence of 7 analysts revising their earnings downwards for the upcoming period further adds a layer of caution.
For those looking to delve deeper into Pacific Premier Bancorp Inc.'s financials and future outlook, InvestingPro offers additional analysis and metrics. By using the coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to a total of 6 InvestingPro Tips for Pacific Premier Bancorp Inc. at https://www.investing.com/pro/PPBI. These tips could be invaluable for making informed investment decisions.
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