Equities analysts expect Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) to announce sales of $121.43 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Pacific Premier Bancorp’s earnings, with estimates ranging from $120.60 million to $122.10 million. Pacific Premier Bancorp posted sales of $72.51 million in the same quarter last year, which would indicate a positive year over year growth rate of 67.5%. The business is expected to announce its next earnings results on Tuesday, October 23rd.
According to Zacks, analysts expect that Pacific Premier Bancorp will report full year sales of $424.33 million for the current fiscal year, with estimates ranging from $422.50 million to $426.20 million. For the next fiscal year, analysts forecast that the firm will post sales of $529.13 million per share, with estimates ranging from $516.10 million to $537.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Pacific Premier Bancorp.
Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). Pacific Premier Bancorp had a net margin of 24.60% and a return on equity of 8.61%. The company had revenue of $89.32 million during the quarter, compared to analyst estimates of $92.28 million. During the same period in the prior year, the business earned $0.35 EPS.
PPBI has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 17th. BidaskClub raised shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, May 19th. ValuEngine lowered shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Finally, Stephens reaffirmed a “hold” rating and set a $43.00 target price on shares of Pacific Premier Bancorp in a report on Wednesday, July 25th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. Pacific Premier Bancorp presently has a consensus rating of “Hold” and an average target price of $48.00.
PPBI traded up $0.45 during trading on Tuesday, reaching $37.50. 238,997 shares of the company’s stock were exchanged, compared to its average volume of 318,224. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.01. Pacific Premier Bancorp has a fifty-two week low of $32.05 and a fifty-two week high of $46.05. The firm has a market capitalization of $2.31 billion, a PE ratio of 21.19, a P/E/G ratio of 1.82 and a beta of 0.68.
In other news, Chairman Steven R. Gardner sold 37,438 shares of the business’s stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $41.43, for a total value of $1,551,056.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.59% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in Pacific Premier Bancorp by 16.7% in the 2nd quarter. BlackRock Inc. now owns 5,929,600 shares of the financial services provider’s stock valued at $226,215,000 after acquiring an additional 849,764 shares in the last quarter. Janus Henderson Group PLC lifted its position in Pacific Premier Bancorp by 123.6% in the 2nd quarter. Janus Henderson Group PLC now owns 3,674,522 shares of the financial services provider’s stock valued at $140,183,000 after acquiring an additional 2,031,417 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Pacific Premier Bancorp by 28.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,076,930 shares of the financial services provider’s stock valued at $79,236,000 after acquiring an additional 462,393 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Pacific Premier Bancorp by 27.7% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,684,907 shares of the financial services provider’s stock valued at $64,279,000 after acquiring an additional 365,375 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Pacific Premier Bancorp by 0.5% in the 1st quarter. Royal Bank of Canada now owns 1,452,882 shares of the financial services provider’s stock valued at $58,407,000 after acquiring an additional 6,839 shares in the last quarter. 90.01% of the stock is owned by institutional investors.
About Pacific Premier Bancorp
Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. Its deposit products include checking, money market, and savings accounts. The company's loan portfolio comprises commercial business loans, lines of credit, small business administration loans, commercial real estate loans, agribusiness loans, home equity lines of credit, construction loans, farmland, and consumer loans, as well as multi-family residential, one-to-four family real estate, commercial and industrial, and franchise lending; warehouse repurchase facilities; and credit facilities to Home Owners' Associations (HOA) and HOA management companies.
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