Brokers Set Expectations for Pacific Premier Bancorp, Inc.’s Q1 2024 Earnings (NASDAQ:PPBI)

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Stock analysts at Wedbush cut their Q1 2024 earnings per share (EPS) estimates for Pacific Premier Bancorp in a research report issued to clients and investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings per share of $0.45 for the quarter, down from their previous forecast of $0.48. Wedbush currently has a “Neutral” rating and a $30.00 target price on the stock. The consensus estimate for Pacific Premier Bancorp’s current full-year earnings is $1.98 per share. Wedbush also issued estimates for Pacific Premier Bancorp’s Q2 2024 earnings at $0.47 EPS, Q3 2024 earnings at $0.50 EPS, Q4 2024 earnings at $0.52 EPS, FY2024 earnings at $1.95 EPS, Q1 2025 earnings at $0.53 EPS, Q2 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.55 EPS and Q4 2025 earnings at $0.57 EPS.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of ($17.00) million during the quarter, compared to analysts’ expectations of $169.50 million. Pacific Premier Bancorp had a return on equity of 7.50% and a net margin of 24.75%. During the same period last year, the business earned $0.77 earnings per share.

Other research analysts have also recently issued reports about the company. StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a research report on Wednesday, March 20th. Stephens restated an “equal weight” rating and issued a $28.00 price objective on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods boosted their price objective on Pacific Premier Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a research report on Monday, December 4th. TheStreet cut Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $29.00 price target (up from $26.00) on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $28.60.

Pacific Premier Bancorp Stock Up 4.7 %

Shares of PPBI stock opened at $24.02 on Thursday. The stock has a 50 day moving average of $24.43 and a 200 day moving average of $24.00. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.30 billion, a P/E ratio of 80.07 and a beta of 1.20. Pacific Premier Bancorp has a twelve month low of $17.53 and a twelve month high of $30.13.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 9th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date was Thursday, February 8th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is currently 440.00%.

Insiders Place Their Bets

In related news, Director Barbara Polsky acquired 1,200 shares of the stock in a transaction on Thursday, March 21st. The shares were bought at an average price of $23.92 per share, with a total value of $28,704.00. Following the completion of the purchase, the director now owns 14,507 shares of the company’s stock, valued at approximately $347,007.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pacific Premier Bancorp

Hedge funds have recently modified their holdings of the business. ProShare Advisors LLC grew its holdings in shares of Pacific Premier Bancorp by 9.0% during the 2nd quarter. ProShare Advisors LLC now owns 14,852 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 1,221 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Pacific Premier Bancorp by 7.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 953,147 shares of the financial services provider’s stock worth $19,711,000 after acquiring an additional 67,900 shares in the last quarter. American Century Companies Inc. lifted its stake in Pacific Premier Bancorp by 5.0% during the 3rd quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock worth $90,387,000 after acquiring an additional 198,874 shares in the last quarter. EJF Capital LLC acquired a new position in Pacific Premier Bancorp during the 3rd quarter worth about $1,632,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Pacific Premier Bancorp during the 2nd quarter worth about $308,000. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

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.