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%.
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.
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.
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