Analysts expect Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) to report sales of $121.43 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Pacific Premier Bancorp’s earnings, with the highest sales estimate coming in at $122.10 million and the lowest estimate coming in at $120.60 million. Pacific Premier Bancorp reported sales of $72.51 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 67.5%. The firm is expected to report its next quarterly earnings report on Tuesday, October 23rd.
According to Zacks, analysts expect that Pacific Premier Bancorp will report full year sales of $424.33 million for the current fiscal year, with estimates ranging from $422.50 million to $426.20 million. For the next financial year, analysts expect that the company will post sales of $529.13 million per share, with estimates ranging from $516.10 million to $537.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Pacific Premier Bancorp.
Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.02). Pacific Premier Bancorp had a net margin of 24.60% and a return on equity of 8.61%. The firm had revenue of $89.32 million for the quarter, compared to analyst estimates of $92.28 million. During the same quarter in the previous year, the company earned $0.35 EPS.
PPBI has been the topic of several research reports. BidaskClub upgraded Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, May 19th. Stephens restated a “hold” rating and set a $43.00 price objective on shares of Pacific Premier Bancorp in a research note on Wednesday, July 25th. Zacks Investment Research cut Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 17th. Finally, ValuEngine cut Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $48.00.
In other news, Chairman Steven R. Gardner sold 37,438 shares of the stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $41.43, for a total transaction of $1,551,056.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.59% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Sciencast Management LP bought a new position in Pacific Premier Bancorp in the 1st quarter worth approximately $202,000. Cambridge Investment Research Advisors Inc. bought a new position in Pacific Premier Bancorp in the 2nd quarter worth approximately $203,000. Quadrature Capital Ltd bought a new position in Pacific Premier Bancorp in the 1st quarter worth approximately $204,000. Envestnet Asset Management Inc. grew its holdings in Pacific Premier Bancorp by 132.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 6,122 shares of the financial services provider’s stock worth $246,000 after buying an additional 3,485 shares in the last quarter. Finally, Citadel Advisors LLC grew its holdings in Pacific Premier Bancorp by 32.9% in the 1st quarter. Citadel Advisors LLC now owns 7,527 shares of the financial services provider’s stock worth $303,000 after buying an additional 1,864 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.
Pacific Premier Bancorp traded up $0.45, hitting $37.50, on Tuesday, according to MarketBeat Ratings. 238,997 shares of the stock traded hands, compared to its average volume of 318,224. Pacific Premier Bancorp has a twelve month low of $32.05 and a twelve month high of $46.05. The stock has a market capitalization of $2.31 billion, a P/E ratio of 21.19, a PEG ratio of 1.82 and a beta of 0.68. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.38.
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. Its deposit products include checking, money market, and savings accounts. The company's loan portfolio comprises commercial business loans, lines of credit, small business administration loans, commercial real estate loans, agribusiness loans, home equity lines of credit, construction loans, farmland, and consumer loans, as well as multi-family residential, one-to-four family real estate, commercial and industrial, and franchise lending; warehouse repurchase facilities; and credit facilities to Home Owners' Associations (HOA) and HOA management companies.
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