Pacific Premier Bancorp (NASDAQ:PPBI) Posts Earnings Results, Beats Expectations By $0.03 EPS

Pacific Premier Bancorp (NASDAQ:PPBIGet Free Report) issued its quarterly earnings data on Monday. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03, MarketWatch Earnings reports. The business had revenue of ($17.00) million for the quarter, compared to analysts’ expectations of $169.50 million. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 7.50%. During the same quarter last year, the company earned $0.77 EPS.

Pacific Premier Bancorp Trading Down 3.7 %

Shares of PPBI stock opened at $27.03 on Wednesday. The stock’s fifty day moving average is $27.16 and its two-hundred day moving average is $24.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a market capitalization of $2.59 billion, a P/E ratio of 90.10 and a beta of 1.27. Pacific Premier Bancorp has a fifty-two week low of $17.53 and a fifty-two week high of $35.66.

Pacific Premier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Friday, February 9th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $1.32 dividend on an annualized basis and a yield of 4.88%. Pacific Premier Bancorp’s payout ratio is currently 440.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PPBI shares. StockNews.com cut shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Keefe, Bruyette & Woods raised their price objective on shares of Pacific Premier Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a research note on Monday, December 4th. TheStreet lowered Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Monday. Piper Sandler increased their target price on Pacific Premier Bancorp from $25.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, November 21st. Finally, Wedbush decreased their target price on Pacific Premier Bancorp from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.60.

Get Our Latest Research Report on PPBI

Insider Buying and Selling at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, CFO Lori R. Wright sold 13,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $29.62, for a total value of $385,060.00. Following the transaction, the chief financial officer now owns 27,462 shares in the company, valued at approximately $813,424.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pacific Premier Bancorp news, EVP Tom Rice sold 15,168 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $22.61, for a total value of $342,948.48. Following the transaction, the executive vice president now owns 64,500 shares in the company, valued at approximately $1,458,345. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Lori R. Wright sold 13,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $29.62, for a total value of $385,060.00. Following the completion of the sale, the chief financial officer now directly owns 27,462 shares of the company’s stock, valued at $813,424.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,213 shares of company stock worth $1,640,479. Corporate insiders own 2.31% of the company’s stock.

Institutional Trading of Pacific Premier Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of Pacific Premier Bancorp in the 1st quarter worth $28,000. Lazard Asset Management LLC acquired a new stake in shares of Pacific Premier Bancorp in the 1st quarter worth $32,000. Belpointe Asset Management LLC increased its stake in shares of Pacific Premier Bancorp by 279.2% in the 1st quarter. Belpointe Asset Management LLC now owns 1,365 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 1,005 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Pacific Premier Bancorp by 69.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,094 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 1,270 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Pacific Premier Bancorp by 29.9% in the 1st quarter. Advisors Asset Management Inc. now owns 2,201 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 507 shares during the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Pacific Premier Bancorp Company Profile

(Get Free Report)

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides various banking products and services to businesses, professionals, real estate investors, and non-profit organizations in the United States. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.

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Earnings History for Pacific Premier Bancorp (NASDAQ:PPBI)

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