Pacific Premier Bancorp, Inc. to Post Q2 2024 Earnings of $0.43 Per Share, DA Davidson Forecasts (NASDAQ:PPBI)

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – DA Davidson issued their Q2 2024 earnings estimates for shares of Pacific Premier Bancorp in a research report issued on Thursday, April 25th. DA Davidson analyst G. Tenner expects that the financial services provider will earn $0.43 per share for the quarter. DA Davidson has a “Buy” rating and a $27.00 price target on the stock. The consensus estimate for Pacific Premier Bancorp’s current full-year earnings is $1.93 per share. DA Davidson also issued estimates for Pacific Premier Bancorp’s FY2025 earnings at $2.03 EPS.

PPBI has been the subject of several other reports. Stephens reiterated an “equal weight” rating and set a $28.00 price objective on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods decreased their price objective on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a research report on Thursday. TheStreet cut shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. Raymond James reissued an “outperform” rating and set a $25.00 target price (down from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday. Finally, Wedbush reissued a “neutral” rating and set a $25.00 target price on shares of Pacific Premier Bancorp in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $27.17.

Pacific Premier Bancorp Trading Down 2.6 %

Shares of NASDAQ PPBI opened at $22.16 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.90. Pacific Premier Bancorp has a 52-week low of $17.53 and a 52-week high of $30.13. The firm has a 50 day moving average price of $23.02 and a two-hundred day moving average price of $24.10. The stock has a market cap of $2.12 billion, a P/E ratio of 170.47 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results 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. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. The firm had revenue of $239.21 million during the quarter, compared to analysts’ expectations of $166.98 million. During the same period in the prior year, the company posted $0.66 EPS.

Pacific Premier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 1,015.46%.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, Director Barbara Polsky purchased 1,200 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were bought at an average cost of $23.92 per share, with a total value of $28,704.00. Following the completion of the transaction, the director now directly owns 14,507 shares of the company’s stock, valued at $347,007.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.21% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Pacific Premier Bancorp during the fourth quarter worth about $34,788,000. Schroder Investment Management Group bought a new position in shares of Pacific Premier Bancorp in the third quarter valued at approximately $6,264,000. Ieq Capital LLC bought a new position in shares of Pacific Premier Bancorp in the third quarter valued at approximately $6,091,000. Eagle Asset Management Inc. boosted its position in shares of Pacific Premier Bancorp by 1,724.3% in the fourth quarter. Eagle Asset Management Inc. now owns 292,576 shares of the financial services provider’s stock valued at $8,517,000 after acquiring an additional 276,538 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Pacific Premier Bancorp by 13.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,278,555 shares of the financial services provider’s stock valued at $49,581,000 after acquiring an additional 269,119 shares during the period. 93.11% of the stock is owned by 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.