Pacific Premier Bancorp Inc (PPBI) Expected to Announce Quarterly Sales of $83.30 Million
Equities research analysts expect Pacific Premier Bancorp Inc (NASDAQ:PPBI) to post sales of $83.30 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Pacific Premier Bancorp’s earnings, with the lowest sales estimate coming in at $82.70 million and the highest estimate coming in at $83.70 million. Pacific Premier Bancorp posted sales of $46.62 million during the same quarter last year, which would indicate a positive year over year growth rate of 78.7%. The business is scheduled to report its next earnings report on Tuesday, January 23rd.
According to Zacks, analysts expect that Pacific Premier Bancorp will report full year sales of $83.30 million for the current year, with estimates ranging from $271.50 million to $274.70 million. For the next year, analysts expect that the business will post sales of $377.57 million per share, with estimates ranging from $370.70 million to $384.70 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Pacific Premier Bancorp.
Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $72.51 million for the quarter, compared to analyst estimates of $72.23 million. During the same period last year, the company earned $0.33 earnings per share.
PPBI has been the topic of several recent analyst reports. ValuEngine raised Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub raised Pacific Premier Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Piper Jaffray Companies set a $43.00 price target on Pacific Premier Bancorp and gave the company a “buy” rating in a research note on Saturday, August 19th. Finally, Stephens lowered Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 26th. 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 currently has an average rating of “Hold” and an average price target of $45.00.
In other Pacific Premier Bancorp news, President Edward Earl Wilcox sold 25,000 shares of Pacific Premier Bancorp stock in a transaction on Friday, September 8th. The stock was sold at an average price of $32.81, for a total value of $820,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Zareh Hovik Sarrafian acquired 1,500 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was acquired at an average price of $32.65 per share, with a total value of $48,975.00. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 100,416 shares of company stock worth $3,531,960. 4.59% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of PPBI. UBS Asset Management Americas Inc. bought a new position in Pacific Premier Bancorp in the 1st quarter valued at $214,000. Envestnet Asset Management Inc. raised its position in Pacific Premier Bancorp by 7.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,926 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 207 shares during the last quarter. American International Group Inc. raised its position in Pacific Premier Bancorp by 7.1% in the 1st quarter. American International Group Inc. now owns 16,759 shares of the financial services provider’s stock valued at $646,000 after purchasing an additional 1,115 shares during the last quarter. Teachers Advisors LLC raised its position in Pacific Premier Bancorp by 3.3% in the 1st quarter. Teachers Advisors LLC now owns 46,168 shares of the financial services provider’s stock valued at $1,780,000 after purchasing an additional 1,489 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in Pacific Premier Bancorp by 20.4% in the 1st quarter. TIAA CREF Investment Management LLC now owns 145,283 shares of the financial services provider’s stock valued at $5,601,000 after purchasing an additional 24,649 shares during the last quarter. Hedge funds and other institutional investors own 82.84% of the company’s stock.
Shares of Pacific Premier Bancorp (NASDAQ:PPBI) remained flat at $40.40 during midday trading on Wednesday. The company’s stock had a trading volume of 32,718 shares. The firm has a 50-day moving average price of $38.47 and a 200 day moving average price of $36.64. Pacific Premier Bancorp has a 1-year low of $24.95 and a 1-year high of $42.55. The firm has a market capitalization of $1.62 billion, a P/E ratio of 28.02 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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