Pacific Premier Bancorp Inc (PPBI) Expected to Announce Earnings of $0.41 Per Share
Analysts expect Pacific Premier Bancorp Inc (NASDAQ:PPBI) to post earnings per share (EPS) of $0.41 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Pacific Premier Bancorp’s earnings. The lowest EPS estimate is $0.30 and the highest is $0.51. Pacific Premier Bancorp posted earnings of $0.45 per share during the same quarter last year, which suggests a negative year over year growth rate of 8.9%. The business is expected to issue its next earnings report on Tuesday, January 23rd.
On average, analysts expect that Pacific Premier Bancorp will report full year earnings of $1.68 per share for the current financial year, with EPS estimates ranging from $1.49 to $1.94. For the next fiscal year, analysts forecast that the firm will post earnings of $2.40 per share, with EPS estimates ranging from $2.37 to $2.44. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Pacific Premier Bancorp.
Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Tuesday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.03. The firm had revenue of $72.51 million during the quarter, compared to analyst estimates of $72.23 million. Pacific Premier Bancorp had a return on equity of 9.21% and a net margin of 21.82%. During the same period last year, the business posted $0.33 earnings per share.
A number of research analysts recently issued reports on PPBI shares. Piper Jaffray Companies set a $43.00 target price on Pacific Premier Bancorp and gave the company a “buy” rating in a report on Saturday, August 19th. BidaskClub downgraded Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Stephens cut Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 26th. Finally, ValuEngine upgraded Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $45.00.
Pacific Premier Bancorp (PPBI) traded up $0.15 during trading hours on Friday, reaching $39.00. The company had a trading volume of 381,400 shares, compared to its average volume of 353,443. The stock has a market capitalization of $1,795.63, a price-to-earnings ratio of 20.34, a PEG ratio of 2.90 and a beta of 0.86. Pacific Premier Bancorp has a 52-week low of $31.40 and a 52-week high of $42.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.02.
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In other news, CFO Ronald J. Jr. Nicolas acquired 2,500 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was bought at an average cost of $36.97 per share, with a total value of $92,425.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Edward Earl Wilcox sold 25,000 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $32.81, for a total transaction of $820,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,500 shares of company stock valued at $2,714,150. Insiders own 4.59% of the company’s stock.
Several hedge funds have recently modified their holdings of PPBI. Janus Henderson Group PLC bought a new position in shares of Pacific Premier Bancorp during the second quarter worth about $31,506,000. The Manufacturers Life Insurance Company lifted its position in shares of Pacific Premier Bancorp by 2,947.4% during the second quarter. The Manufacturers Life Insurance Company now owns 634,567 shares of the financial services provider’s stock worth $23,415,000 after purchasing an additional 613,744 shares during the last quarter. Phocas Financial Corp. lifted its position in shares of Pacific Premier Bancorp by 317.5% during the second quarter. Phocas Financial Corp. now owns 495,358 shares of the financial services provider’s stock worth $18,279,000 after purchasing an additional 376,711 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Pacific Premier Bancorp by 875.1% in the second quarter. Victory Capital Management Inc. now owns 397,804 shares of the financial services provider’s stock worth $14,679,000 after acquiring an additional 357,008 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Pacific Premier Bancorp by 31.5% in the second quarter. Vanguard Group Inc. now owns 1,478,727 shares of the financial services provider’s stock worth $54,566,000 after acquiring an additional 354,386 shares during the last quarter. 71.87% of the stock is currently owned by institutional investors and hedge funds.
About Pacific Premier Bancorp
Pacific Premier Bancorp, Inc is a bank holding company. The Company’s subsidiary, Pacific Premier Bank (the Bank), is a California state-chartered commercial bank. The Company’s principal business is attracting deposits from small and middle market businesses and consumers and investing those deposits together with funds generated from operations and borrowings, primarily in commercial business loans and various types of commercial real estate (CRE) loans.
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