Wall Street analysts expect that Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) will announce sales of $121.98 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Pacific Premier Bancorp’s earnings. The lowest sales estimate is $120.80 million and the highest is $122.90 million. Pacific Premier Bancorp posted sales of $87.62 million in the same quarter last year, which suggests a positive year-over-year growth rate of 39.2%. The business is scheduled to issue its next earnings report on Tuesday, January 29th.
On average, analysts expect that Pacific Premier Bancorp will report full-year sales of $420.20 million for the current fiscal year, with estimates ranging from $419.00 million to $421.50 million. For the next financial year, analysts anticipate that the company will post sales of $515.40 million, with estimates ranging from $512.30 million to $519.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Pacific Premier Bancorp.
Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The company had revenue of $120.26 million for the quarter, compared to analyst estimates of $121.43 million. Pacific Premier Bancorp had a net margin of 23.18% and a return on equity of 8.54%. During the same period in the previous year, the firm posted $0.50 earnings per share.
A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. ValuEngine raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Finally, BidaskClub raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $46.00.
In other news, CFO Ronald J. Jr. Nicolas bought 1,000 shares of the business’s stock in a transaction dated Wednesday, November 14th. The stock was bought at an average price of $29.39 per share, for a total transaction of $29,390.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Don M. Griffith sold 19,245 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $40.02, for a total transaction of $770,184.90. The disclosure for this sale can be found here. Insiders own 4.59% of the company’s stock.
Several large investors have recently bought and sold shares of PPBI. Janus Henderson Group PLC raised its stake in shares of Pacific Premier Bancorp by 123.6% in the second quarter. Janus Henderson Group PLC now owns 3,674,522 shares of the financial services provider’s stock valued at $140,183,000 after acquiring an additional 2,031,417 shares during the last quarter. Vanguard Group Inc. raised its position in Pacific Premier Bancorp by 60.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,271,251 shares of the financial services provider’s stock worth $196,091,000 after purchasing an additional 1,980,341 shares during the last quarter. Morgan Stanley raised its position in Pacific Premier Bancorp by 716.1% in the 2nd quarter. Morgan Stanley now owns 976,124 shares of the financial services provider’s stock worth $37,239,000 after purchasing an additional 856,515 shares during the last quarter. BlackRock Inc. raised its position in Pacific Premier Bancorp by 16.7% in the 2nd quarter. BlackRock Inc. now owns 5,929,600 shares of the financial services provider’s stock worth $226,215,000 after purchasing an additional 849,764 shares during the last quarter. Finally, Brown Advisory Inc. raised its position in Pacific Premier Bancorp by 106.9% in the 3rd quarter. Brown Advisory Inc. now owns 990,083 shares of the financial services provider’s stock worth $36,831,000 after purchasing an additional 511,440 shares during the last quarter. Institutional investors own 77.31% of the company’s stock.
NASDAQ PPBI opened at $31.04 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 1.56 and a beta of 1.02. Pacific Premier Bancorp has a 1-year low of $26.70 and a 1-year high of $46.05.
About Pacific Premier Bancorp
Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. Its deposit products include checking, money market, and savings accounts. The company's loan portfolio comprises commercial business loans, lines of credit, small business administration loans, commercial real estate loans, agribusiness loans, home equity lines of credit, construction loans, farmland, and consumer loans, as well as multi-family residential, one-to-four family real estate, commercial and industrial, and franchise lending; warehouse repurchase facilities; and credit facilities to Home Owners' Associations (HOA) and HOA management companies.
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