Pacific Premier Bancorp (NASDAQ:PPBI) – Equities researchers at DA Davidson cut their Q2 2018 earnings per share (EPS) estimates for shares of Pacific Premier Bancorp in a report released on Tuesday, May 1st. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings of $0.63 per share for the quarter, down from their previous forecast of $0.66. DA Davidson also issued estimates for Pacific Premier Bancorp’s Q3 2018 earnings at $0.67 EPS, Q4 2018 earnings at $0.76 EPS, FY2018 earnings at $2.70 EPS and FY2019 earnings at $3.27 EPS.
Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Tuesday, May 1st. The financial services provider reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.01). Pacific Premier Bancorp had a return on equity of 8.57% and a net margin of 22.48%. The company had revenue of $88.95 million during the quarter, compared to the consensus estimate of $89.10 million. During the same period in the prior year, the firm posted $0.34 earnings per share.
A number of other equities analysts also recently weighed in on PPBI. Zacks Investment Research downgraded shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub raised shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, February 22nd. ValuEngine cut shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Stephens reiterated a “hold” rating and set a $45.00 price target on shares of Pacific Premier Bancorp in a research report on Tuesday, February 6th. Finally, Piper Jaffray set a $55.00 price target on shares of Pacific Premier Bancorp and gave the stock a “buy” rating in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $47.00.
Shares of NASDAQ PPBI opened at $39.75 on Friday. Pacific Premier Bancorp has a 1-year low of $32.05 and a 1-year high of $46.05. The stock has a market capitalization of $1,797.40, a price-to-earnings ratio of 22.32, a P/E/G ratio of 1.73 and a beta of 0.69. The company has a quick ratio of 1.04, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.
In other news, President Edward Earl Wilcox sold 21,261 shares of Pacific Premier Bancorp stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $44.50, for a total transaction of $946,114.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven R. Gardner sold 54,849 shares of Pacific Premier Bancorp stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $43.08, for a total transaction of $2,362,894.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 98,146 shares of company stock valued at $4,251,269. 4.59% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Pacific Premier Bancorp by 103.1% during the fourth quarter. BlackRock Inc. now owns 4,970,355 shares of the financial services provider’s stock valued at $198,814,000 after purchasing an additional 2,522,820 shares during the period. Earnest Partners LLC acquired a new position in Pacific Premier Bancorp during the fourth quarter valued at approximately $65,490,000. Dimensional Fund Advisors LP grew its holdings in Pacific Premier Bancorp by 11.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,380,565 shares of the financial services provider’s stock valued at $52,116,000 after purchasing an additional 145,315 shares during the period. Emerald Advisers Inc. PA grew its holdings in Pacific Premier Bancorp by 5.3% during the fourth quarter. Emerald Advisers Inc. PA now owns 1,071,932 shares of the financial services provider’s stock valued at $42,877,000 after purchasing an additional 54,130 shares during the period. Finally, Millennium Management LLC grew its holdings in Pacific Premier Bancorp by 120.4% during the fourth quarter. Millennium Management LLC now owns 938,321 shares of the financial services provider’s stock valued at $37,533,000 after purchasing an additional 512,542 shares during the period. Hedge funds and other institutional investors own 85.96% of the company’s stock.
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. Its deposit products include checking, money market, and savings accounts. The company's loan portfolio comprises commercial business loans, lines of credit, small business administration loans, commercial real estate loans, agribusiness loans, home equity lines of credit, construction loans, farmland, and consumer loans, as well as multi-family residential, one-to-four family real estate, commercial and industrial, and franchise lending; warehouse repurchase facilities; and credit facilities to Home Owners' Associations (HOA) and HOA management companies.
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