FY2024 Earnings Estimate for Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Issued By DA Davidson

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Investment analysts at DA Davidson cut their FY2024 earnings per share (EPS) estimates for shares of Pacific Premier Bancorp in a research note issued on Thursday, April 25th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings per share of $1.78 for the year, down from their previous forecast of $2.08. DA Davidson has a “Buy” rating and a $27.00 price objective on the stock. The consensus estimate for Pacific Premier Bancorp’s current full-year earnings is $1.84 per share.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $239.21 million during the quarter, compared to analyst estimates of $166.98 million. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. During the same period last year, the company earned $0.66 EPS.

A number of other equities research analysts have also issued reports on PPBI. Keefe, Bruyette & Woods decreased their price target on Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a research note on Thursday. TheStreet lowered Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. Wedbush reaffirmed a “neutral” rating and set a $25.00 target price on shares of Pacific Premier Bancorp in a research report on Thursday. StockNews.com raised Pacific Premier Bancorp to a “sell” rating in a research report on Tuesday, April 23rd. Finally, Stephens reaffirmed an “equal weight” rating and set a $28.00 target price on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.17.

Pacific Premier Bancorp Price Performance

NASDAQ:PPBI opened at $21.98 on Monday. Pacific Premier Bancorp has a 1 year low of $17.53 and a 1 year high of $30.13. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.93. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 169.08 and a beta of 1.21. The business has a 50 day simple moving average of $22.90 and a 200-day simple moving average of $24.11.

Hedge Funds Weigh In On Pacific Premier Bancorp

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in Pacific Premier Bancorp during the 4th quarter worth approximately $42,000. Bfsg LLC purchased a new position in Pacific Premier Bancorp in the fourth quarter worth approximately $93,000. Bailard Inc. purchased a new position in Pacific Premier Bancorp in the fourth quarter worth approximately $207,000. FineMark National Bank & Trust purchased a new position in Pacific Premier Bancorp in the fourth quarter worth approximately $234,000. Finally, Vest Financial LLC acquired a new position in Pacific Premier Bancorp during the fourth quarter worth $237,000. Institutional investors and hedge funds own 93.11% of the company’s stock.

Insider Buying and Selling

In other news, Director Barbara Polsky purchased 1,200 shares of the stock in a transaction on Thursday, March 21st. The stock was bought at an average price of $23.92 per share, with a total value of $28,704.00. Following the transaction, the director now owns 14,507 shares in the company, valued at approximately $347,007.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.21% of the stock is owned by company insiders.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, May 6th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.32 annualized dividend and a yield of 6.01%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 1,015.38%.

Pacific Premier Bancorp Company Profile

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides various banking products and services in the United States. The company accepts deposit products, which includes checking, money market, savings accounts, and certificates of deposit. Its loan portfolio includes commercial real estate owner and non-owner-occupied, multifamily, construction and land, franchise real estate secured, and small business administration (SBA); revolving lines of credit, term loans, seasonal loans, and loans secured by liquid collateral; one-to-four family and home equity lines of credit loans; and small balance personal unsecured loans and savings account secured loans.