Pacific Premier Bancorp Inc (NASDAQ:PPBI) – Equities researchers at DA Davidson dropped their FY2017 earnings per share (EPS) estimates for Pacific Premier Bancorp in a research report issued to clients and investors on Tuesday, according to Zacks Investment Research. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings per share of $1.49 for the year, down from their previous forecast of $1.69. DA Davidson also issued estimates for Pacific Premier Bancorp’s Q4 2017 earnings at $0.30 EPS and FY2018 earnings at $2.38 EPS.
Several other brokerages have also issued reports on PPBI. BidaskClub lowered shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. ValuEngine downgraded shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Piper Jaffray Companies reissued a “buy” rating and issued a $49.00 price objective on shares of Pacific Premier Bancorp in a report on Friday, October 27th. Finally, Stephens downgraded shares of Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $45.00.
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Shares of Pacific Premier Bancorp (PPBI) traded down $0.25 on Friday, reaching $37.05. 459,700 shares of the company’s stock traded hands, compared to its average volume of 348,697. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.47. Pacific Premier Bancorp has a fifty-two week low of $28.75 and a fifty-two week high of $42.55. The stock has a market cap of $1,723.99, a PE ratio of 19.53, a P/E/G ratio of 2.88 and a beta of 0.86.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.03. Pacific Premier Bancorp had a net margin of 21.82% and a return on equity of 9.21%. The business had revenue of $72.51 million for the quarter, compared to analyst estimates of $72.23 million. During the same quarter in the prior year, the firm posted $0.33 EPS.
In other Pacific Premier Bancorp news, Director Simone Lagomarsino sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $36.00, for a total value of $225,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Edward Earl Wilcox sold 25,000 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $32.81, for a total value of $820,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,416 shares of company stock valued at $3,531,960. 4.59% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PPBI. Envestnet Asset Management Inc. increased its stake in shares of Pacific Premier Bancorp by 7.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,926 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 207 shares during the last quarter. Citigroup Inc. increased its position in shares of Pacific Premier Bancorp by 664.8% during the 2nd quarter. Citigroup Inc. now owns 3,044 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 2,646 shares during the last quarter. First Mercantile Trust Co. acquired a new stake in shares of Pacific Premier Bancorp during the 2nd quarter worth about $113,000. Ameritas Investment Partners Inc. increased its position in shares of Pacific Premier Bancorp by 52.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,441 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 1,177 shares during the last quarter. Finally, North Star Investment Management Corp. acquired a new stake in shares of Pacific Premier Bancorp during the 2nd quarter worth about $133,000. 83.98% of the stock is owned by hedge funds and other institutional investors.
Pacific Premier Bancorp Company Profile
Pacific Premier Bancorp, Inc is a bank holding company. The Company’s subsidiary, Pacific Premier Bank (the Bank), is a California state-chartered commercial bank. The Company’s principal business is attracting deposits from small and middle market businesses and consumers and investing those deposits together with funds generated from operations and borrowings, primarily in commercial business loans and various types of commercial real estate (CRE) loans.
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