Pacific Premier Bancorp Inc (NASDAQ:PPBI) – Research analysts at FIG Partners dropped their FY2018 EPS estimates for Pacific Premier Bancorp in a research report issued on Thursday. FIG Partners analyst T. Coffey now forecasts that the financial services provider will post earnings per share of $2.20 for the year, down from their prior forecast of $2.36. FIG Partners also issued estimates for Pacific Premier Bancorp’s Q1 2019 earnings at $0.65 EPS, Q2 2019 earnings at $0.66 EPS and FY2019 earnings at $2.63 EPS.
Several other research analysts also recently issued reports on PPBI. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $41.00 price objective (down previously from $43.00) on shares of Pacific Premier Bancorp in a research note on Monday, April 17th. Zacks Investment Research downgraded Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. FBR & Co raised Pacific Premier Bancorp from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $40.00 to $44.00 in a research note on Monday, May 1st. BidaskClub raised Pacific Premier Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, June 9th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Pacific Premier Bancorp in a research note on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $41.75.
Shares of Pacific Premier Bancorp (PPBI) traded down 0.56% on Friday, hitting $35.35. 147,278 shares of the stock traded hands. The stock has a market cap of $1.42 billion, a PE ratio of 24.51 and a beta of 0.72. Pacific Premier Bancorp has a 1-year low of $24.00 and a 1-year high of $41.90. The stock has a 50 day moving average of $36.47 and a 200-day moving average of $37.18.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.47 by $0.12. The company had revenue of $72.10 million during the quarter, compared to analyst estimates of $68.18 million. Pacific Premier Bancorp had a net margin of 19.85% and a return on equity of 9.42%. During the same quarter in the previous year, the business posted $0.38 EPS.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC increased its stake in Pacific Premier Bancorp by 3.8% in the fourth quarter. Teachers Advisors LLC now owns 44,679 shares of the financial services provider’s stock worth $1,579,000 after buying an additional 1,618 shares in the last quarter. Navellier & Associates Inc increased its stake in Pacific Premier Bancorp by 0.7% in the first quarter. Navellier & Associates Inc now owns 34,653 shares of the financial services provider’s stock worth $1,336,000 after buying an additional 228 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Pacific Premier Bancorp by 9.2% in the first quarter. Russell Investments Group Ltd. now owns 123,155 shares of the financial services provider’s stock worth $4,747,000 after buying an additional 10,390 shares in the last quarter. Emerald Advisers Inc. PA increased its stake in Pacific Premier Bancorp by 1.4% in the first quarter. Emerald Advisers Inc. PA now owns 666,745 shares of the financial services provider’s stock worth $25,703,000 after buying an additional 9,470 shares in the last quarter. Finally, Chicago Equity Partners LLC purchased a new stake in Pacific Premier Bancorp during the first quarter worth $2,204,000. 63.10% of the stock is owned by institutional investors.
In other news, Director Simone Lagomarsino sold 6,250 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $36.30, for a total value of $226,875.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 18,750 shares of company stock valued at $684,688 in the last ninety days. 4.59% of the stock is currently owned by insiders.
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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