Q2 2024 EPS Estimates for Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Lowered by Analyst

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Analysts at Wedbush cut their Q2 2024 earnings estimates for Pacific Premier Bancorp in a research report issued to clients and investors on Thursday, April 25th. Wedbush analyst D. Chiaverini now expects that the financial services provider will earn $0.46 per share for the quarter, down from their previous estimate of $0.47. Wedbush has a “Neutral” rating and a $25.00 price objective 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 also recently issued reports on PPBI. Raymond James reiterated an “outperform” rating and set a $25.00 price target (down previously from $29.00) on shares of Pacific Premier Bancorp in a report on Thursday. Stephens reiterated an “equal weight” rating and issued a $28.00 target price on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. TheStreet lowered shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. DA Davidson reduced their price objective on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday. Finally, StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.17.

Pacific Premier Bancorp Stock Performance

Shares of Pacific Premier Bancorp stock opened at $21.98 on Friday. Pacific Premier Bancorp has a 52 week low of $17.53 and a 52 week high of $30.13. The company has a quick ratio of 0.93, a current ratio of 0.90 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average price of $22.96 and a 200-day moving average price of $24.08. The company has a market cap of $2.11 billion, a PE ratio of 169.09 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $239.21 million for the quarter, compared to analyst estimates of $166.98 million. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. During the same quarter in the prior year, the business posted $0.66 EPS.

Pacific Premier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date is Friday, May 3rd. Pacific Premier Bancorp’s payout ratio is 1,015.46%.

Insider Activity

In other news, Director Barbara Polsky bought 1,200 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was acquired 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 approximately $347,007.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.21% of the company’s stock.

Institutional Investors Weigh In On Pacific Premier Bancorp

Several institutional investors have recently added to or reduced their stakes in PPBI. GAMMA Investing LLC purchased a new stake in shares of Pacific Premier Bancorp during the 4th quarter valued at approximately $42,000. Bfsg LLC purchased a new stake in shares of Pacific Premier Bancorp during the fourth quarter worth $93,000. Versor Investments LP bought a new position in shares of Pacific Premier Bancorp in the third quarter worth $200,000. Bailard Inc. purchased a new position in shares of Pacific Premier Bancorp in the fourth quarter valued at $207,000. Finally, FineMark National Bank & Trust bought a new stake in shares of Pacific Premier Bancorp during the 4th quarter valued at $234,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

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.