Pacific Premier Bancorp, Inc. (PPBI) Expected to Post Quarterly Sales of $83.30 Million
Equities analysts expect that Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) will report sales of $83.30 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Pacific Premier Bancorp’s earnings, with estimates ranging from $82.70 million to $83.70 million. Pacific Premier Bancorp posted sales of $46.62 million in the same quarter last year, which suggests a positive year-over-year growth rate of 78.7%. The company is expected to announce its next earnings report before the market opens on Tuesday, January 30th.
According to Zacks, analysts expect that Pacific Premier Bancorp will report full-year sales of $83.30 million for the current fiscal year, with estimates ranging from $271.50 million to $274.70 million. For the next year, analysts expect that the business will report sales of $377.97 million per share, with estimates ranging from $371.90 million to $384.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Pacific Premier Bancorp.
Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.03. Pacific Premier Bancorp had a return on equity of 9.21% and a net margin of 21.82%. The business had revenue of $72.51 million for the quarter, compared to the consensus estimate of $72.23 million. During the same period last year, the business earned $0.33 EPS.
Pacific Premier Bancorp (NASDAQ:PPBI) opened at $40.55 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.47. Pacific Premier Bancorp has a one year low of $32.05 and a one year high of $42.55. The firm has a market capitalization of $1,870.00, a P/E ratio of 25.03, a P/E/G ratio of 2.02 and a beta of 0.82.
In other Pacific Premier Bancorp news, Chairman Steven R. Gardner sold 12,500 shares of Pacific Premier Bancorp stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $41.02, for a total value of $512,750.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Ronald J. Jr. Nicolas purchased 2,500 shares of the company’s stock in a transaction on Monday, November 13th. The stock was acquired at an average cost of $36.97 per share, for a total transaction of $92,425.00. The disclosure for this purchase can be found here. Insiders own 4.59% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Citigroup Inc. increased its position in Pacific Premier Bancorp by 664.8% in the 2nd quarter. Citigroup Inc. now owns 3,044 shares of the financial services provider’s stock worth $113,000 after buying an additional 2,646 shares during the period. Ameritas Investment Partners Inc. increased its position in Pacific Premier Bancorp by 52.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,441 shares of the financial services provider’s stock worth $127,000 after buying an additional 1,177 shares during the period. BNP Paribas Arbitrage SA increased its position in Pacific Premier Bancorp by 4,866.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,023 shares of the financial services provider’s stock worth $148,000 after buying an additional 3,942 shares during the period. Quantbot Technologies LP increased its position in Pacific Premier Bancorp by 266.5% in the 3rd quarter. Quantbot Technologies LP now owns 4,182 shares of the financial services provider’s stock worth $157,000 after buying an additional 3,041 shares during the period. Finally, Strs Ohio bought a new position in Pacific Premier Bancorp in the 3rd quarter worth approximately $196,000. 71.35% of the stock is currently owned by institutional investors.
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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