Wall Street brokerages expect that Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) will report $92.28 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Pacific Premier Bancorp’s earnings, with estimates ranging from $90.70 million to $94.70 million. Pacific Premier Bancorp posted sales of $72.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 28%. The firm is expected to issue its next quarterly earnings report before the market opens on Tuesday, July 24th.
According to Zacks, analysts expect that Pacific Premier Bancorp will report full year sales of $435.58 million for the current fiscal year, with estimates ranging from $433.10 million to $439.00 million. For the next fiscal year, analysts forecast that the business will report sales of $545.75 million per share, with estimates ranging from $535.10 million to $551.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Pacific Premier Bancorp.
Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Tuesday, May 1st. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.01). The business had revenue of $88.95 million during the quarter, compared to the consensus estimate of $89.10 million. Pacific Premier Bancorp had a net margin of 22.48% and a return on equity of 8.57%. During the same period last year, the business posted $0.34 EPS.
Several research analysts have recently issued reports on the stock. BidaskClub lowered shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine lowered shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Finally, Zacks Investment Research lowered shares of Pacific Premier Bancorp from a “hold” rating to a “strong sell” rating in a research note on Friday, June 29th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. Pacific Premier Bancorp has an average rating of “Hold” and an average price target of $48.67.
In related news, Chairman Steven R. Gardner sold 37,438 shares of Pacific Premier Bancorp stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $41.43, for a total transaction of $1,551,056.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.59% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in PPBI. Sciencast Management LP bought a new position in Pacific Premier Bancorp during the 1st quarter worth approximately $202,000. Quadrature Capital Ltd bought a new position in Pacific Premier Bancorp during the 1st quarter worth approximately $204,000. OppenheimerFunds Inc. bought a new position in Pacific Premier Bancorp during the 4th quarter worth approximately $216,000. Citadel Advisors LLC bought a new position in Pacific Premier Bancorp during the 4th quarter worth approximately $227,000. Finally, Amalgamated Bank bought a new position in Pacific Premier Bancorp during the 4th quarter worth approximately $227,000. 85.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ PPBI traded up $0.15 during mid-day trading on Monday, hitting $38.15. The company’s stock had a trading volume of 216,910 shares, compared to its average volume of 523,728. The firm has a market capitalization of $1.77 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 1.79 and a beta of 0.74. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.47. Pacific Premier Bancorp has a one year low of $32.05 and a one year high of $46.05.
Pacific Premier Bancorp Company Profile
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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