Equities analysts expect that Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) will report earnings per share of $0.64 for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Pacific Premier Bancorp’s earnings, with the lowest EPS estimate coming in at $0.63 and the highest estimate coming in at $0.66. Pacific Premier Bancorp posted earnings of $0.50 per share during the same quarter last year, which would indicate a positive year over year growth rate of 28%. The business is expected to announce its next quarterly earnings results on Tuesday, October 23rd.
According to Zacks, analysts expect that Pacific Premier Bancorp will report full year earnings of $2.55 per share for the current fiscal year, with EPS estimates ranging from $2.53 to $2.57. For the next year, analysts forecast that the business will post earnings of $3.06 per share, with EPS estimates ranging from $2.93 to $3.20. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Pacific Premier Bancorp.
Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.60 EPS 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 firm 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 company earned $0.35 earnings per share.
A number of research analysts have commented on the company. Zacks Investment Research lowered Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Thursday. ValuEngine raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. BidaskClub raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Finally, Stephens reissued a “hold” rating and set a $43.00 target price on shares of Pacific Premier Bancorp in a report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $48.00.
Shares of NASDAQ PPBI opened at $39.60 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. Pacific Premier Bancorp has a one year low of $32.35 and a one year high of $46.05. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 1.94 and a beta of 0.72.
In other news, Director Simone Lagomarsino sold 7,828 shares of the stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $38.58, for a total transaction of $302,004.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.59% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of Pacific Premier Bancorp by 36.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 689,752 shares of the financial services provider’s stock worth $26,313,000 after purchasing an additional 182,809 shares in the last quarter. Putnam Investments LLC grew its holdings in shares of Pacific Premier Bancorp by 112.8% during the 2nd quarter. Putnam Investments LLC now owns 110,510 shares of the financial services provider’s stock worth $4,216,000 after purchasing an additional 58,583 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Pacific Premier Bancorp by 35.7% during the 2nd quarter. Millennium Management LLC now owns 606,810 shares of the financial services provider’s stock worth $23,150,000 after purchasing an additional 159,700 shares in the last quarter. MetLife Investment Advisors LLC grew its holdings in shares of Pacific Premier Bancorp by 13.3% during the 2nd quarter. MetLife Investment Advisors LLC now owns 21,020 shares of the financial services provider’s stock worth $802,000 after purchasing an additional 2,475 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its holdings in shares of Pacific Premier Bancorp by 15.2% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 14,844 shares of the financial services provider’s stock worth $566,000 after purchasing an additional 1,962 shares in the last quarter. 74.55% of the stock is currently owned by institutional investors.
Pacific Premier Bancorp Company Profile
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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