Following this transaction, Karr holds 79,474 shares indirectly through The Karr Family Revocable Trust, as indicated in the filing. Additionally, he owns 31,007 shares directly, which are part of a restricted stock grant subject to a vesting schedule. Karr also holds restricted stock units that could convert to common stock based on performance metrics over a three-year period.This sale is part of Karr's ongoing management of his equity holdings in the company, which operates as a state commercial bank headquartered in Irvine, California. The bank, with a market capitalization of $2.4 billion, currently offers investors a notable 5.3% dividend yield. InvestingPro subscribers can access detailed analysis and additional insights through the comprehensive Pro Research Report, available for over 1,400 US stocks including PPBI. The bank, with a market capitalization of $2.4 billion, currently offers investors a notable 5.3% dividend yield. InvestingPro subscribers can access detailed analysis and additional insights through the comprehensive Pro Research Report, available for over 1,400 US stocks including PPBI.
Following this transaction, Karr holds 79,474 shares indirectly through The Karr Family Revocable Trust, as indicated in the filing. Additionally, he owns 31,007 shares directly, which are part of a restricted stock grant subject to a vesting schedule. Karr also holds restricted stock units that could convert to common stock based on performance metrics over a three-year period.
This sale is part of Karr's ongoing management of his equity holdings in the company, which operates as a state commercial bank headquartered in Irvine, California.
In other recent news, Pacific Premier Bancorp (NASDAQ:PPBI) reported strong third-quarter 2024 financial results, posting a net income of $36 million, or $0.37 per share. The company also announced an increase in its net interest margin projection for the fourth quarter, expecting net interest income to be between $120 million and $125 million. Additionally, the bank reported a reduction in higher-cost funding sources and an improvement in its tangible common equity ratio to 11.83%.
In other significant developments, Pacific Premier Bancorp gained approval from the Office of the Comptroller of the Currency to transition from a California-chartered bank to a national banking association. This move aligns with the bank's strategic growth objectives and is expected to provide operational efficiencies and a broader market reach.
Furthermore, Pacific Premier Bancorp's board is exploring various capital management options, including potential mergers and acquisitions. The bank is also adding new loan producers to enhance loan growth capabilities. According to InvestingPro data, analysts expect the bank's net income to grow, with price targets ranging from $25 to $30.
These recent developments reflect the bank's ongoing commitment to strategic growth and operational efficiency.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.