Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Equities research analysts at FIG Partners upped their FY2018 EPS estimates for Pacific Premier Bancorp in a research report issued on Wednesday. FIG Partners analyst T. Coffey now expects that the financial services provider will post earnings per share of $2.69 for the year, up from their previous forecast of $2.67. FIG Partners also issued estimates for Pacific Premier Bancorp’s FY2019 earnings at $3.09 EPS.
A number of other research firms have also issued reports on PPBI. ValuEngine lowered shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Piper Jaffray Companies reissued a “buy” rating and issued a $49.00 price target on shares of Pacific Premier Bancorp in a research report on Friday, October 27th. Zacks Investment Research raised shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Wednesday, December 27th. Finally, Stephens reissued a “hold” rating and issued a $45.00 price target on shares of Pacific Premier Bancorp in a research report on Tuesday. One 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 a consensus rating of “Hold” and an average price target of $44.80.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Pacific Premier Bancorp had a net margin of 19.96% and a return on equity of 8.65%. The company had revenue of $87.62 million during the quarter, compared to analyst estimates of $83.30 million. During the same period in the prior year, the firm earned $0.43 earnings per share.
In related news, CFO Ronald J. Jr. Nicolas acquired 2,500 shares of the stock in a transaction dated Monday, November 13th. The shares were acquired at an average price of $36.97 per share, for a total transaction of $92,425.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.59% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Citigroup Inc. raised its holdings in shares of Pacific Premier Bancorp by 664.8% in the second quarter. Citigroup Inc. now owns 3,044 shares of the financial services provider’s stock valued at $113,000 after buying an additional 2,646 shares during the last quarter. LS Investment Advisors LLC bought a new position in shares of Pacific Premier Bancorp in the fourth quarter valued at about $130,000. Ameritas Investment Partners Inc. increased its position in Pacific Premier Bancorp by 52.0% in the second quarter. Ameritas Investment Partners Inc. now owns 3,441 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 1,177 shares during the period. Quantbot Technologies LP increased its position in Pacific Premier Bancorp by 266.5% in the third quarter. Quantbot Technologies LP now owns 4,182 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 3,041 shares during the period. Finally, Financial Advisors Network Inc. acquired a new stake in Pacific Premier Bancorp in the fourth quarter worth about $200,000. 71.49% of the stock is owned by hedge funds and other 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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