Brokerages Expect Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Will Announce Earnings of $0.61 Per Share

Analysts expect Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) to post $0.61 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Pacific Premier Bancorp’s earnings. The highest EPS estimate is $0.64 and the lowest is $0.58. Pacific Premier Bancorp reported earnings of $0.66 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 7.6%. The company is expected to announce its next quarterly earnings results on Tuesday, February 4th.

On average, analysts expect that Pacific Premier Bancorp will report full-year earnings of $2.53 per share for the current year, with EPS estimates ranging from $2.48 to $2.55. For the next fiscal year, analysts anticipate that the business will post earnings of $2.43 per share, with EPS estimates ranging from $2.32 to $2.51. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Pacific Premier Bancorp.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.07. The business had revenue of $123.77 million during the quarter, compared to analyst estimates of $117.66 million. Pacific Premier Bancorp had a return on equity of 8.07% and a net margin of 28.03%. During the same quarter in the previous year, the business earned $0.46 earnings per share.

PPBI has been the subject of a number of recent analyst reports. BidaskClub cut Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Zacks Investment Research raised Pacific Premier Bancorp from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 26th. Finally, Stephens reiterated a “hold” rating and issued a $31.00 target price on shares of Pacific Premier Bancorp in a research note on Tuesday, October 22nd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $31.00.

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 13,969 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $33.85, for a total transaction of $472,850.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Tom Rice sold 3,829 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total value of $129,420.20. The disclosure for this sale can be found here. Insiders have sold a total of 87,309 shares of company stock valued at $2,879,400 in the last quarter. 3.67% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PPBI. BlackRock Inc. grew its position in shares of Pacific Premier Bancorp by 12.5% during the 2nd quarter. BlackRock Inc. now owns 7,587,878 shares of the financial services provider’s stock worth $234,314,000 after buying an additional 843,759 shares in the last quarter. Janus Henderson Group PLC increased its position in Pacific Premier Bancorp by 9.0% during the 2nd quarter. Janus Henderson Group PLC now owns 5,046,515 shares of the financial services provider’s stock valued at $155,836,000 after purchasing an additional 417,199 shares during the period. Nuveen Asset Management LLC bought a new stake in shares of Pacific Premier Bancorp in the 2nd quarter valued at about $12,129,000. Vanguard Group Inc. raised its holdings in shares of Pacific Premier Bancorp by 6.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,929,371 shares of the financial services provider’s stock valued at $183,099,000 after purchasing an additional 379,035 shares in the last quarter. Finally, Investment Counselors of Maryland LLC purchased a new stake in shares of Pacific Premier Bancorp in the 2nd quarter worth approximately $11,550,000. 85.43% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ PPBI opened at $31.91 on Friday. Pacific Premier Bancorp has a fifty-two week low of $23.01 and a fifty-two week high of $34.90. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 12.71 and a beta of 1.22. The business’s 50 day moving average price is $32.88 and its 200-day moving average price is $30.85.

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.76%. The ex-dividend date was Thursday, October 31st. Pacific Premier Bancorp’s dividend payout ratio is presently 35.06%.

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. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.

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Earnings History and Estimates for Pacific Premier Bancorp (NASDAQ:PPBI)

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