Pacific Premier Bancorp Inc (PPBI) Expected to Announce Earnings of $0.42 Per Share
Brokerages forecast that Pacific Premier Bancorp Inc (NASDAQ:PPBI) will post earnings per share of $0.42 for the current quarter, according to Zacks. Three analysts have issued estimates for Pacific Premier Bancorp’s earnings, with estimates ranging from $0.30 to $0.53. Pacific Premier Bancorp reported earnings per share of $0.45 during the same quarter last year, which suggests a negative year-over-year growth rate of 6.7%. The company is scheduled to issue its next earnings results on Tuesday, January 23rd.
According to Zacks, analysts expect that Pacific Premier Bancorp will report full-year earnings of $1.62 per share for the current financial year, with EPS estimates ranging from $1.49 to $1.73. For the next year, analysts expect that the business will report earnings of $2.36 per share, with EPS estimates ranging from $2.22 to $2.44. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side 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 for the quarter, topping the consensus estimate of $0.47 by $0.03. Pacific Premier Bancorp had a return on equity of 10.49% and a net margin of 21.82%. The business had revenue of $72.51 million during the quarter, compared to the consensus estimate of $72.23 million. During the same period last year, the company earned $0.33 earnings per share.
Several equities analysts recently issued reports on PPBI shares. BidaskClub lowered Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. ValuEngine raised Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Stephens lowered Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 26th. Finally, Piper Jaffray Companies set a $43.00 target price on Pacific Premier Bancorp and gave the stock a “buy” rating in a research note on Saturday, August 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Pacific Premier Bancorp presently has a consensus rating of “Hold” and a consensus price target of $45.00.
In related news, Director Simone Lagomarsino sold 6,250 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $36.00, for a total transaction of $225,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Steven R. Gardner sold 16,666 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $35.57, for a total value of $592,809.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,916 shares of company stock worth $3,019,210. 4.59% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. New York State Common Retirement Fund raised its position in Pacific Premier Bancorp by 95.8% in the 2nd quarter. New York State Common Retirement Fund now owns 73,638 shares of the financial services provider’s stock valued at $2,717,000 after purchasing an additional 36,033 shares in the last quarter. State Street Corp raised its position in Pacific Premier Bancorp by 54.6% in the 1st quarter. State Street Corp now owns 910,631 shares of the financial services provider’s stock valued at $35,104,000 after purchasing an additional 321,765 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Pacific Premier Bancorp in the 2nd quarter valued at about $31,506,000. TD Asset Management Inc. acquired a new stake in Pacific Premier Bancorp in the 2nd quarter valued at about $601,000. Finally, CNH Partners LLC acquired a new stake in Pacific Premier Bancorp in the 2nd quarter valued at about $1,384,000. 82.84% of the stock is currently owned by institutional investors.
Shares of Pacific Premier Bancorp (NASDAQ PPBI) opened at 41.05 on Monday. The stock’s 50 day moving average price is $38.11 and its 200 day moving average price is $36.56. Pacific Premier Bancorp has a 52-week low of $24.95 and a 52-week high of $42.55. The company has a market capitalization of $1.64 billion, a P/E ratio of 28.47 and a beta of 0.73.
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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