DA Davidson Weighs in on Pacific Premier Bancorp, Inc.’s FY2024 Earnings (NASDAQ:PPBI)

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Investment analysts at DA Davidson dropped their FY2024 earnings estimates for shares of Pacific Premier Bancorp in a report released on Thursday, April 25th. DA Davidson analyst G. Tenner now expects that the financial services provider will earn $1.78 per share for the year, down from their prior forecast of $2.08. DA Davidson has a “Buy” rating and a $27.00 price objective on the stock. The consensus estimate for Pacific Premier Bancorp’s current full-year earnings is $1.84 per share.

A number of other research firms have also issued reports on PPBI. StockNews.com upgraded shares of Pacific Premier Bancorp to a “sell” rating in a research note on Tuesday, April 23rd. Wedbush reiterated a “neutral” rating and issued a $25.00 target price on shares of Pacific Premier Bancorp in a research note on Thursday, April 25th. Stephens reiterated an “equal weight” rating and issued a $28.00 target price on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. Keefe, Bruyette & Woods lowered their target price on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Finally, Raymond James reissued an “outperform” rating and issued a $25.00 price target (down from $29.00) on shares of Pacific Premier Bancorp in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.33.

Pacific Premier Bancorp Stock Performance

Shares of PPBI opened at $21.50 on Monday. The company’s fifty day moving average is $22.84 and its 200-day moving average is $24.12. Pacific Premier Bancorp has a 12 month low of $17.53 and a 12 month high of $30.13. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 165.40 and a beta of 1.21. The company has a quick ratio of 0.93, a current ratio of 0.90 and a debt-to-equity ratio of 0.18.

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, topping the consensus estimate of $0.48 by $0.01. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. The company had revenue of $239.21 million for the quarter, compared to analyst estimates of $166.98 million. During the same quarter in the prior year, the business posted $0.66 EPS.

Hedge Funds Weigh In On Pacific Premier Bancorp

Large investors have recently modified their holdings of the stock. WBI Investments Inc. raised its stake in shares of Pacific Premier Bancorp by 4.8% during the third quarter. WBI Investments Inc. now owns 15,328 shares of the financial services provider’s stock worth $334,000 after buying an additional 708 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Pacific Premier Bancorp by 7.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 14,882 shares of the financial services provider’s stock worth $324,000 after buying an additional 1,052 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Pacific Premier Bancorp during the fourth quarter worth approximately $42,000. Teza Capital Management LLC increased its stake in Pacific Premier Bancorp by 13.6% in the third quarter. Teza Capital Management LLC now owns 13,417 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 1,610 shares in the last quarter. Finally, Truist Financial Corp increased its stake in Pacific Premier Bancorp by 5.8% in the fourth quarter. Truist Financial Corp now owns 33,848 shares of the financial services provider’s stock valued at $985,000 after purchasing an additional 1,842 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pacific Premier Bancorp

In other news, Director Barbara Polsky purchased 1,200 shares of Pacific Premier Bancorp stock in a transaction on Thursday, March 21st. The shares were purchased at an average cost of $23.92 per share, for a total transaction of $28,704.00. Following the completion of the transaction, the director now directly owns 14,507 shares in the company, valued at $347,007.44. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.21% of the stock is owned by insiders.

Pacific Premier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date is Friday, May 3rd. Pacific Premier Bancorp’s payout ratio is 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.