Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) to Post Q2 2024 Earnings of $0.46 Per Share, Wedbush Forecasts

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Analysts at Wedbush reduced their Q2 2024 earnings per share estimates for Pacific Premier Bancorp in a research report issued to clients and investors on Thursday, April 25th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings of $0.46 per share for the quarter, down from their prior estimate of $0.47. Wedbush currently has a “Neutral” rating and a $25.00 target price on the stock. The consensus estimate for Pacific Premier Bancorp’s current full-year earnings is $1.93 per share. Wedbush also issued estimates for Pacific Premier Bancorp’s Q3 2024 earnings at $0.46 EPS, Q4 2024 earnings at $0.45 EPS, FY2024 earnings at $1.85 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at $0.49 EPS, Q3 2025 earnings at $0.51 EPS, Q4 2025 earnings at $0.52 EPS and FY2025 earnings at $2.00 EPS.

Several other brokerages have also commented on PPBI. TheStreet lowered Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. DA Davidson reduced their price objective on Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday. Raymond James reissued an “outperform” rating and issued a $25.00 price objective (down previously from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday. Stephens restated an “equal weight” rating and set a $28.00 target price on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Finally, StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $27.17.

Pacific Premier Bancorp Price Performance

Shares of PPBI stock opened at $22.16 on Friday. The stock’s fifty day simple moving average is $23.02 and its 200 day simple moving average is $24.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.93. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 170.47 and a beta of 1.21. Pacific Premier Bancorp has a one year low of $17.53 and a one year high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $239.21 million for the quarter, compared to analyst estimates of $166.98 million. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. During the same quarter in the previous year, the firm earned $0.66 EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC acquired a new position in shares of Pacific Premier Bancorp during the fourth quarter worth about $42,000. Bfsg LLC purchased a new position in Pacific Premier Bancorp in the fourth quarter worth about $93,000. Versor Investments LP purchased a new position in shares of Pacific Premier Bancorp during the 3rd quarter valued at about $200,000. Bailard Inc. purchased a new position in shares of Pacific Premier Bancorp during the 4th quarter valued at about $207,000. Finally, FineMark National Bank & Trust purchased a new position in shares of Pacific Premier Bancorp during the 4th quarter valued at about $234,000. 93.11% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pacific Premier Bancorp

In other news, Director Barbara Polsky acquired 1,200 shares of Pacific Premier Bancorp stock in a transaction dated Thursday, March 21st. The stock was bought at an average cost of $23.92 per share, with a total value of $28,704.00. Following the completion of the transaction, the director now directly owns 14,507 shares of the company’s stock, valued at $347,007.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.21% of the stock is owned by insiders.

Pacific Premier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be issued a $0.33 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.32 annualized dividend and a dividend yield of 5.96%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is currently 1,015.46%.

About Pacific Premier Bancorp

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.