Equities analysts expect that Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) will announce $89.10 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Pacific Premier Bancorp’s earnings. The lowest sales estimate is $88.60 million and the highest is $89.80 million. Pacific Premier Bancorp reported sales of $46.39 million during the same quarter last year, which would suggest a positive year over year growth rate of 92.1%. The company is expected to announce its next earnings report on Tuesday, April 24th.
According to Zacks, analysts expect that Pacific Premier Bancorp will report full-year sales of $89.10 million for the current financial year, with estimates ranging from $437.10 million to $440.70 million. For the next financial year, analysts forecast that the firm will post sales of $552.97 million per share, with estimates ranging from $543.50 million to $558.70 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Pacific Premier Bancorp.
Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Pacific Premier Bancorp had a net margin of 19.96% and a return on equity of 8.65%. The business had revenue of $87.62 million for the quarter, compared to analysts’ expectations of $83.30 million. During the same period last year, the business earned $0.43 earnings per share.
A number of research analysts have commented on PPBI shares. Zacks Investment Research upgraded shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Wednesday, December 27th. Stephens reiterated a “hold” rating and set a $45.00 price target on shares of Pacific Premier Bancorp in a research report on Tuesday, February 6th. Piper Jaffray Companies set a $55.00 price target on shares of Pacific Premier Bancorp and gave the company a “buy” rating in a research report on Tuesday, February 13th. Finally, BidaskClub upgraded shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $46.40.
In other news, President Edward Earl Wilcox sold 21,261 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $44.50, for a total value of $946,114.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Tom Rice sold 22,036 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $42.76, for a total transaction of $942,259.36. The disclosure for this sale can be found here. Insiders sold 98,146 shares of company stock worth $4,251,269 in the last 90 days. Company insiders own 4.59% of the company’s stock.
Several institutional investors have recently modified their holdings of PPBI. BlackRock Inc. grew its holdings in shares of Pacific Premier Bancorp by 103.1% in the fourth quarter. BlackRock Inc. now owns 4,970,355 shares of the financial services provider’s stock worth $198,814,000 after purchasing an additional 2,522,820 shares during the last quarter. Earnest Partners LLC bought a new position in shares of Pacific Premier Bancorp in the fourth quarter worth approximately $65,490,000. Millennium Management LLC grew its holdings in shares of Pacific Premier Bancorp by 120.4% in the fourth quarter. Millennium Management LLC now owns 938,321 shares of the financial services provider’s stock worth $37,533,000 after purchasing an additional 512,542 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Pacific Premier Bancorp by 79.7% in the fourth quarter. Bank of New York Mellon Corp now owns 597,349 shares of the financial services provider’s stock worth $23,893,000 after purchasing an additional 265,020 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Pacific Premier Bancorp by 28.2% in the fourth quarter. Victory Capital Management Inc. now owns 733,782 shares of the financial services provider’s stock worth $29,351,000 after purchasing an additional 161,475 shares during the last quarter. Hedge funds and other institutional investors own 86.35% of the company’s stock.
PPBI stock opened at $43.45 on Wednesday. Pacific Premier Bancorp has a 52-week low of $32.05 and a 52-week high of $46.05. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.04 and a current ratio of 1.05. The company has a market cap of $2,041.55, a P/E ratio of 28.03, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67.
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Pacific Premier Bancorp Company Profile
Pacific Premier Bancorp, Inc is a bank holding company. The Company’s subsidiary, Pacific Premier Bank (the Bank), is a California state-chartered commercial bank. The Company’s principal business is attracting deposits from small and middle market businesses and consumers and investing those deposits together with funds generated from operations and borrowings, primarily in commercial business loans and various types of commercial real estate (CRE) loans.
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