Pacific Premier Bancorp (NASDAQ:PPBI) Announces Earnings Results

Pacific Premier Bancorp (NASDAQ:PPBI) released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.62 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.62, MarketWatch Earnings reports. The business had revenue of $119.09 million during the quarter, compared to analyst estimates of $121.55 million. Pacific Premier Bancorp had a net margin of 25.82% and a return on equity of 8.24%. During the same period last year, the business earned $0.62 EPS.

Shares of PPBI traded down $0.15 on Friday, reaching $29.98. The company’s stock had a trading volume of 781,109 shares, compared to its average volume of 407,105. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 1.44 and a beta of 1.28. Pacific Premier Bancorp has a 12-month low of $23.01 and a 12-month high of $43.20.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Tuesday, April 30th. Pacific Premier Bancorp’s payout ratio is presently 35.06%.

In related news, Chairman Steven R. Gardner sold 43,535 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $29.92, for a total value of $1,302,567.20. Following the transaction, the chairman now owns 234,880 shares of the company’s stock, valued at $7,027,609.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.67% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Flinton Capital Management LLC bought a new stake in shares of Pacific Premier Bancorp during the fourth quarter valued at approximately $27,000. JOYN Advisors Inc. raised its position in shares of Pacific Premier Bancorp by 2,206.1% during the fourth quarter. JOYN Advisors Inc. now owns 1,130 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,081 shares during the last quarter. Advisor Group Inc. raised its position in shares of Pacific Premier Bancorp by 68.2% during the first quarter. Advisor Group Inc. now owns 1,191 shares of the financial services provider’s stock valued at $32,000 after buying an additional 483 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Pacific Premier Bancorp during the first quarter valued at approximately $38,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Pacific Premier Bancorp during the fourth quarter valued at approximately $43,000. 83.47% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on the stock. Stephens restated a “hold” rating and set a $35.00 price objective on shares of Pacific Premier Bancorp in a research note on Tuesday, April 23rd. TheStreet upgraded shares of Pacific Premier Bancorp from a “c+” rating to a “b-” rating in a research note on Tuesday, April 23rd. ValuEngine upgraded shares of Pacific Premier Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 4th. BidaskClub upgraded shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Finally, Zacks Investment Research downgraded shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $37.50.

ILLEGAL ACTIVITY WARNING: This article was originally published by Rockland Register and is the property of of Rockland Register. If you are reading this article on another website, it was stolen and republished in violation of international copyright laws. The correct version of this article can be accessed at https://rocklandregister.com/2019/05/18/pacific-premier-bancorp-ppbi-announces-quarterly-earnings-results-meets-expectations.html.

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. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.

Further Reading: How do taxes affect a CDs total return?

Earnings History for Pacific Premier Bancorp (NASDAQ:PPBI)

Receive News & Ratings for Pacific Premier Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Premier Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.