FY2024 EPS Estimates for Pacific Premier Bancorp, Inc. Decreased by Analyst (NASDAQ:PPBI)

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Analysts at DA Davidson cut their FY2024 EPS estimates for shares of Pacific Premier Bancorp in a research report issued on Thursday, June 27th. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $1.77 per share for the year, down from their prior forecast of $1.78. DA Davidson currently has a “Buy” rating and a $27.00 target price on the stock. The consensus estimate for Pacific Premier Bancorp’s current full-year earnings is $1.78 per share. DA Davidson also issued estimates for Pacific Premier Bancorp’s FY2025 earnings at $2.01 EPS.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data 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 firm had revenue of $239.21 million during the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $0.66 EPS.

Several other research firms have also recently commented on PPBI. 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. 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 report on Thursday, April 25th. Piper Sandler dropped their price objective on Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a research report on Friday, May 17th. Finally, Wedbush restated a “neutral” rating and set a $25.00 target price on shares of Pacific Premier Bancorp in a report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.33.

Pacific Premier Bancorp Trading Up 2.7 %

Shares of Pacific Premier Bancorp stock opened at $22.97 on Monday. Pacific Premier Bancorp has a 52-week low of $17.86 and a 52-week high of $30.13. The company’s 50-day simple moving average is $22.14 and its 200-day simple moving average is $24.13. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 176.71 and a beta of 1.24. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.18.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Monday, May 6th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.75%. The ex-dividend date was Friday, May 3rd. Pacific Premier Bancorp’s payout ratio is 1,015.46%.

Insider Buying and Selling

In other Pacific Premier Bancorp news, CFO Lori R. Wright sold 4,668 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $23.59, for a total value of $110,118.12. Following the sale, the chief financial officer now directly owns 31,259 shares of the company’s stock, valued at approximately $737,399.81. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Pacific Premier Bancorp by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock worth $329,437,000 after purchasing an additional 65,694 shares during the period. Dimensional Fund Advisors LP grew its position in Pacific Premier Bancorp by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,067,760 shares of the financial services provider’s stock valued at $147,527,000 after acquiring an additional 131,448 shares during the period. American Century Companies Inc. increased its stake in Pacific Premier Bancorp by 5.0% during the third quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock worth $90,387,000 after acquiring an additional 198,874 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Pacific Premier Bancorp by 9.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,486,456 shares of the financial services provider’s stock valued at $72,381,000 after buying an additional 207,901 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Pacific Premier Bancorp by 6.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,477,208 shares of the financial services provider’s stock worth $43,002,000 after acquiring an additional 86,564 shares in the last quarter. 93.11% of the stock is currently 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.