Research Analysts Issue Forecasts for Pacific Premier Bancorp, Inc.’s Q3 2024 Earnings (NASDAQ:PPBI)

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Equities researchers at DA Davidson reduced their Q3 2024 earnings estimates for shares of Pacific Premier Bancorp in a research note issued on Thursday, October 3rd. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $0.41 per share for the quarter, down from their previous estimate of $0.43. The consensus estimate for Pacific Premier Bancorp’s current full-year earnings is $1.65 per share. DA Davidson also issued estimates for Pacific Premier Bancorp’s FY2024 earnings at $1.68 EPS and FY2025 earnings at $1.70 EPS.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. The business had revenue of $154.62 million for the quarter, compared to analyst estimates of $162.23 million. The company’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share.

PPBI has been the subject of several other reports. Stephens lifted their price target on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Raymond James lifted their target price on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Wedbush decreased their target price on shares of Pacific Premier Bancorp from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pacific Premier Bancorp has an average rating of “Hold” and an average price target of $26.83.

Pacific Premier Bancorp Stock Performance

Shares of PPBI stock opened at $24.59 on Friday. Pacific Premier Bancorp has a 52-week low of $17.86 and a 52-week high of $30.13. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.37 billion, a PE ratio of 189.15 and a beta of 1.22. The business has a 50-day simple moving average of $24.84 and a 200-day simple moving average of $23.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its stake in Pacific Premier Bancorp by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 26,838 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 482 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in Pacific Premier Bancorp by 0.8% during the second quarter. Cubist Systematic Strategies LLC now owns 75,842 shares of the financial services provider’s stock worth $1,742,000 after buying an additional 631 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in Pacific Premier Bancorp by 1.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 53,171 shares of the financial services provider’s stock worth $1,221,000 after buying an additional 858 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in Pacific Premier Bancorp by 2.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the financial services provider’s stock valued at $1,114,000 after buying an additional 1,000 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Pacific Premier Bancorp in the 1st quarter worth $27,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Insider Activity

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $23.63, for a total transaction of $720,691.37. Following the completion of the transaction, the chief operating officer now directly owns 230,592 shares in the company, valued at approximately $5,448,888.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Jeff C. Jones sold 11,251 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the transaction, the director now owns 123,794 shares in the company, valued at $2,924,014.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the sale, the chief operating officer now directly owns 230,592 shares in the company, valued at $5,448,888.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.21% of the company’s stock.

Pacific Premier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, August 5th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date of this dividend was Monday, August 5th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 1,015.38%.

Pacific Premier Bancorp Company Profile

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides various banking products and services in the United States. The company accepts deposit products, which includes checking, money market, savings accounts, and certificates of deposit. Its loan portfolio includes commercial real estate owner and non-owner-occupied, multifamily, construction and land, franchise real estate secured, and small business administration (SBA); revolving lines of credit, term loans, seasonal loans, and loans secured by liquid collateral; one-to-four family and home equity lines of credit loans; and small balance personal unsecured loans and savings account secured loans.