Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Equities researchers at FIG Partners raised their Q1 2019 earnings per share estimates for Pacific Premier Bancorp in a note issued to investors on Monday. FIG Partners analyst T. Coffey now anticipates that the financial services provider will earn $0.81 per share for the quarter, up from their previous forecast of $0.74. FIG Partners also issued estimates for Pacific Premier Bancorp’s Q2 2019 earnings at $0.83 EPS, Q3 2019 earnings at $0.86 EPS, Q4 2019 earnings at $0.87 EPS and FY2019 earnings at $3.37 EPS.
Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday. Piper Jaffray Companies set a $55.00 price target on shares of Pacific Premier Bancorp and gave the company a “buy” rating in a research note on Tuesday. Stephens reaffirmed a “hold” rating and issued a $45.00 price target on shares of Pacific Premier Bancorp in a research note on Tuesday, February 6th. Finally, ValuEngine downgraded shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $46.00.
Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Tuesday, January 30th. The financial services provider reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.05. Pacific Premier Bancorp had a return on equity of 8.65% and a net margin of 19.96%. The business had revenue of $87.62 million during the quarter, compared to analysts’ expectations of $83.30 million. During the same quarter last year, the firm posted $0.43 earnings per share.
Several large investors have recently bought and sold shares of PPBI. Citigroup Inc. boosted its holdings in Pacific Premier Bancorp by 664.8% during the second quarter. Citigroup Inc. now owns 3,044 shares of the financial services provider’s stock worth $113,000 after purchasing 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 4th quarter worth $130,000. Ameritas Investment Partners Inc. increased its holdings in shares of 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 last quarter. Quantbot Technologies LP increased its holdings in shares of 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 last quarter. Finally, Financial Advisors Network Inc. bought a new position in shares of Pacific Premier Bancorp in the 4th quarter worth $200,000. 71.15% of the stock is owned by institutional investors.
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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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