Pacific Premier Bancorp Inc (PPBI) Expected to Announce Quarterly Sales of $68.18 Million
Equities analysts forecast that Pacific Premier Bancorp Inc (NASDAQ:PPBI) will report $68.18 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Pacific Premier Bancorp’s earnings, with estimates ranging from $66.40 million to $69.40 million. Pacific Premier Bancorp posted sales of $42.01 million during the same quarter last year, which suggests a positive year over year growth rate of 62.3%. The firm is expected to announce its next quarterly earnings results before the market opens on Tuesday, July 25th.
On average, analysts expect that Pacific Premier Bancorp will report full year sales of $68.18 million for the current year, with estimates ranging from $256.70 million to $263.40 million. For the next financial year, analysts forecast that the firm will post sales of $317.33 million per share, with estimates ranging from $305.20 million to $328.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Pacific Premier Bancorp.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. Pacific Premier Bancorp had a net margin of 21.18% and a return on equity of 9.90%. The company had revenue of $46.39 million for the quarter, compared to the consensus estimate of $46.48 million. During the same quarter in the previous year, the firm posted $0.41 EPS.
A number of research firms have recently issued reports on PPBI. BidaskClub upgraded shares of Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Zacks Investment Research cut shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Keefe, Bruyette & Woods restated a “buy” rating and set a $42.00 target price on shares of Pacific Premier Bancorp in a research note on Wednesday, June 28th. FBR & Co upgraded shares of Pacific Premier Bancorp from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $40.00 to $44.00 in a research note on Monday, May 1st. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $41.00 target price (down previously from $43.00) on shares of Pacific Premier Bancorp in a research note on Monday, April 17th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $41.75.
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In other Pacific Premier Bancorp news, Director Simone Lagomarsino sold 11,049 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $37.56, for a total value of $415,000.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders sold 23,549 shares of company stock worth $873,125. Insiders own 4.59% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in PPBI. Envestnet Asset Management Inc. raised its position in Pacific Premier Bancorp by 7.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,926 shares of the financial services provider’s stock valued at $112,000 after buying an additional 207 shares in the last quarter. Navellier & Associates Inc raised its stake in shares of Pacific Premier Bancorp by 0.7% in the first quarter. Navellier & Associates Inc now owns 34,653 shares of the financial services provider’s stock valued at $1,336,000 after buying an additional 228 shares during the period. Citadel Advisors LLC raised its stake in shares of Pacific Premier Bancorp by 4.1% in the first quarter. Citadel Advisors LLC now owns 10,632 shares of the financial services provider’s stock valued at $410,000 after buying an additional 415 shares during the period. Alliancebernstein L.P. raised its stake in shares of Pacific Premier Bancorp by 0.3% in the first quarter. Alliancebernstein L.P. now owns 156,640 shares of the financial services provider’s stock valued at $6,038,000 after buying an additional 500 shares during the period. Finally, Ngam Advisors L.P. raised its stake in shares of Pacific Premier Bancorp by 0.8% in the first quarter. Ngam Advisors L.P. now owns 134,335 shares of the financial services provider’s stock valued at $5,179,000 after buying an additional 1,044 shares during the period. 62.61% of the stock is currently owned by hedge funds and other institutional investors.
Pacific Premier Bancorp (NASDAQ PPBI) traded up 2.03% on Friday, hitting $37.65. 136,798 shares of the stock traded hands. The firm’s 50 day moving average is $35.58 and its 200 day moving average is $36.93. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 25.66 and a beta of 0.73. Pacific Premier Bancorp has a 52 week low of $22.98 and a 52 week high of $41.90.
Pacific Premier Bancorp Company Profile
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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