Pacific Premier Bancorp Approves LTIP Amendment

Published 20/05/2025, 11:20
Pacific Premier Bancorp Approves LTIP Amendment

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI), a Delaware-incorporated commercial bank with a market capitalization of $2.15 billion, announced today that at its Annual Meeting of Stockholders on Monday, its stockholders approved an amendment to the company’s Amended and Restated 2022 Long-Term Incentive Plan (2022 LTIP). According to InvestingPro analysis, the company appears undervalued at its current trading price of $22.17. The amendment increases the total number of shares of common stock reserved for issuance under the 2022 LTIP by 2,000,000.

The 2022 LTIP, initially detailed in the company’s definitive proxy statement filed on April 7, 2025, is designed to provide long-term incentives to the company’s officers and employees. The full text of the approved 2022 LTIP is attached as Exhibit 10.1 to the company’s Current Report on Form 8-K. The company maintains strong shareholder-friendly policies, with InvestingPro data showing an attractive dividend yield of 5.95% and a moderate P/E ratio of 13.8x.

Additionally, the stockholders elected eleven nominees to the board of directors, approved executive compensation on a non-binding advisory basis, ratified the appointment of Deloitte & Touche LLP as the company’s independent auditor for the fiscal year ending December 31, 2025, and passed other agenda items as detailed in the definitive proxy statement.

The meeting saw a strong stockholder turnout, with 87,817,716 shares represented in person or by proxy out of a total of 97,081,596 shares issued and outstanding.

The election of the board directors, advisory approval of executive compensation, amendment to the LTIP, and ratification of the company’s independent auditor were all approved with a significant majority of the votes cast.

The company’s headquarters are located at 17901 Von Karman Avenue, Suite 1200, Irvine, CA 92614. This news is based on a press release statement.

In other recent news, Columbia Banking System (NASDAQ:COLB) reported its first-quarter 2025 earnings, surpassing expectations with an earnings per share (EPS) of $0.41 against the forecasted $0.30. The company also exceeded revenue projections, reporting $144.8 million compared to the anticipated $143.2 million. Columbia’s announcement of its acquisition of Pacific Premier Bancorp (PPBI) is a significant development, expected to enhance its market position in Southern California. The merger is projected to result in a company with strong profitability metrics, including a 1.4% return on average assets and a 20% return on average tangible common equity. Raymond (NSE:RYMD) James maintained its Outperform rating on PPBI but adjusted the price target from $28.00 to $25.00, reflecting the first-quarter results and the merger announcement. The firm highlighted the strategic advantages of the merger, noting the increased scale and market share potential. Columbia anticipates realizing $127 million in pretax cost savings from the acquisition and expects EPS accretion of 14% in 2026 and 15% in 2027. This merger is seen as providing significant opportunities for financial growth and market expansion.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.