Pacific Premier Bancorp Inc (PPBI) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Pacific Premier Bancorp Inc (NASDAQ:PPBI) released its quarterly earnings results on Tuesday. The financial services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03, MarketWatch Earnings reports. Pacific Premier Bancorp had a net margin of 19.85% and a return on equity of 9.42%. During the same quarter last year, the company earned $0.33 earnings per share.
Pacific Premier Bancorp (NASDAQ PPBI) opened at 41.95 on Wednesday. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 29.09 and a beta of 0.73. Pacific Premier Bancorp has a 12 month low of $24.75 and a 12 month high of $42.55. The company has a 50-day moving average of $37.42 and a 200-day moving average of $36.45.
In related news, CEO Steven R. Gardner sold 7,500 shares of Pacific Premier Bancorp stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $34.14, for a total value of $256,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Zareh Hovik Sarrafian purchased 1,500 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was acquired at an average cost of $32.65 per share, with a total value of $48,975.00. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 87,916 shares of company stock valued at $3,019,210. Company insiders own 4.59% of the company’s stock.
Several equities analysts have recently commented on the stock. ValuEngine lowered shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. BidaskClub upgraded shares of Pacific Premier Bancorp from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Piper Jaffray Companies set a $43.00 price target on shares of Pacific Premier Bancorp and gave the stock a “buy” rating in a research report on Saturday, August 19th. Stephens lowered shares of Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $42.00 price target on shares of Pacific Premier Bancorp in a research report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $43.00.
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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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