Wall Street analysts predict that Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) will report earnings per share (EPS) of $0.85 for the current quarter, according to Zacks Investment Research. Four analysts have made earnings estimates for Pacific Premier Bancorp. The lowest EPS estimate is $0.76 and the highest is $0.92. Pacific Premier Bancorp posted earnings of $0.71 per share in the same quarter last year, suggesting a positive year-over-year growth rate of 19.7%. The company is expected to announce its next quarterly results before the market opens on Thursday, January 20.
According to Zacks, analysts expect Pacific Premier Bancorp to report annual earnings of $3.48 per share for the current fiscal year, with EPS estimates ranging from $3.34 to $3.58. For the next fiscal year, analysts expect the company to report earnings of $3.04 per share, with EPS estimates ranging from $2.93 to $3.21. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts who provide coverage for Pacific Premier Bancorp.
Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly results on Wednesday, October 20. The financial services provider reported EPS of $0.95 for the quarter, beating analyst consensus estimates of $0.82 by $0.13. The company posted revenue of $199.20 million in the quarter, compared to $189.20 million expected by analysts. Pacific Premier Bancorp posted a net margin of 40.06% and a return on equity of 11.61%. The company’s quarterly revenue increased 3.1% year over year. During the same period last year, the company posted earnings per share of $0.71.
A number of research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, Jan. 8. Raymond James downgraded shares of Pacific Premier Bancorp from a “strong buy” rating to an “outperform” rating and raised his price target for the company from $45.00 to $47.00 in a research note from the Thursday, October 7. They noted that the move was a review call.
Pacific Premier Bancorp stock opened at $44.27 on Friday. Pacific Premier Bancorp has a 1 year minimum of $32.70 and a 1 year maximum of $47.46. The company has a market capitalization of $4.19 billion, a price-earnings ratio of 13.06 and a beta of 1.28. The company’s fifty-day moving average price is $40.91 and its two-hundred-day moving average price is $40.54. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt ratio of 0.17.
The company also recently declared a quarterly dividend, which was paid on Friday, November 12. Investors of record on Monday, November 1 received a dividend of $0.33 per share. This represents a dividend of $1.32 on an annualized basis and a dividend yield of 2.98%. The ex-dividend date was Friday, October 29. Pacific Premier Bancorp’s payout ratio is currently 38.94%.
Separately, director Joseph L. Garrett sold 780 shares of the company in a transaction dated Tuesday, November 9. The shares were sold at an average price of $44.10, for a total transaction of $34,398.00. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Also, director Jeff C.Jones sold 6,248 shares of the company in a transaction dated Tuesday, November 2. The shares were sold at an average price of $43.75, for a total transaction of $273,350.00. Disclosure of this sale can be found here. Insiders have sold 8,518 shares of the company worth $371,654 over the past three months. 2.04% of the shares are held by insiders.
A number of hedge funds and other institutional investors have been buying and selling stocks recently. Amundi Pioneer Asset Management Inc. bought a new position in shares of Pacific Premier Bancorp in the first quarter for a value of approximately $85,000. Rafferty Asset Management LLC increased its stake in shares of Pacific Premier Bancorp by 1.1% in the second quarter. Rafferty Asset Management LLC now owns 60,172 shares of the financial services provider worth $2,545,000 after buying an additional 632 shares last quarter. Citigroup Inc. increased its stake in shares of Pacific Premier Bancorp by 37.1% in the second quarter. Citigroup Inc. now owns 95,938 shares of the financial services provider worth $4,057,000 after buying an additional 25,970 shares last quarter. Principal Financial Group Inc. increased its stake in shares of Pacific Premier Bancorp by 8.2% in the second quarter. Principal Financial Group Inc. now owns 794,544 shares of the financial services provider worth $33,601,000 after purchasing an additional 59,876 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new position in shares of Pacific Premier Bancorp in the second quarter worth approximately $162,000. Institutional investors and hedge funds own 91.69% of the company’s shares.
About Pacific Premier Bancorp
Pacific Premier Bancorp, Inc is a bank holding company that provides banking services through its subsidiary, Pacific Premier Bank. It offers business and consumer deposit products and services, including checking, money market and savings accounts, cash management services, electronic banking and online bill payment.
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