Equities research analysts expect Pacific Premier Bancorp Inc (NASDAQ:PPBI) to post $72.23 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Pacific Premier Bancorp’s earnings, with the highest sales estimate coming in at $72.40 million and the lowest estimate coming in at $72.00 million. Pacific Premier Bancorp reported sales of $44.98 million during the same quarter last year, which indicates a positive year over year growth rate of 60.6%. The company is scheduled to report its next earnings results before the market opens on Tuesday, October 24th.
On average, analysts expect that Pacific Premier Bancorp will report full-year sales of $72.23 million for the current year, with estimates ranging from $263.50 million to $264.80 million. For the next financial year, analysts forecast that the business will report sales of $380.27 million per share, with estimates ranging from $371.60 million to $389.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Pacific Premier Bancorp.
Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.12). Pacific Premier Bancorp had a return on equity of 9.42% and a net margin of 19.85%. The business had revenue of $72.10 million for the quarter, compared to the consensus estimate of $68.18 million. During the same period in the prior year, the business posted $0.38 earnings per share.
A number of research firms recently commented on PPBI. ValuEngine upgraded Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a report on Monday, July 24th. BidaskClub cut Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Stephens cut Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 26th. Piper Jaffray Companies set a $43.00 price objective on Pacific Premier Bancorp and gave the company a “buy” rating in a report on Saturday, August 19th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $42.00 price objective on shares of Pacific Premier Bancorp in a report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $43.00.
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In other Pacific Premier Bancorp news, Chairman Steven R. Gardner sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $34.53, for a total transaction of $690,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Simone Lagomarsino sold 6,250 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $36.25, for a total value of $226,562.50. The disclosure for this sale can be found here. Insiders have sold 94,166 shares of company stock worth $3,245,772 over the last 90 days. 4.59% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alps Advisors Inc. raised its stake in shares of Pacific Premier Bancorp by 0.3% in the second quarter. Alps Advisors Inc. now owns 12,184 shares of the financial services provider’s stock valued at $450,000 after acquiring an additional 31 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Pacific Premier Bancorp by 7.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,926 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 207 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of Pacific Premier Bancorp by 4.1% in the first quarter. Citadel Advisors LLC now owns 10,632 shares of the financial services provider’s stock valued at $410,000 after acquiring an additional 415 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Pacific Premier Bancorp by 9.4% in the second quarter. PNC Financial Services Group Inc. now owns 5,340 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 460 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Pacific Premier Bancorp by 0.3% in the first quarter. Alliancebernstein L.P. now owns 156,640 shares of the financial services provider’s stock valued at $6,038,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 82.40% of the company’s stock.
Shares of Pacific Premier Bancorp (PPBI) opened at 40.05 on Friday. The company’s 50 day moving average price is $36.37 and its 200-day moving average price is $36.25. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 27.77 and a beta of 0.73. Pacific Premier Bancorp has a 52 week low of $24.00 and a 52 week high of $41.90.
About Pacific Premier Bancorp
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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