Wedbush Cuts Earnings Estimates for Pacific Premier Bancorp

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Investment analysts at Wedbush decreased their FY2024 earnings per share estimates for shares of Pacific Premier Bancorp in a report issued on Friday, October 25th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings per share of $1.62 for the year, down from their previous estimate of $1.74. 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 $1.64 per share. Wedbush also issued estimates for Pacific Premier Bancorp’s Q4 2024 earnings at $0.33 EPS, Q2 2025 earnings at $0.33 EPS, Q3 2025 earnings at $0.35 EPS, Q4 2025 earnings at $0.36 EPS, FY2025 earnings at $1.35 EPS, Q1 2026 earnings at $0.35 EPS, Q2 2026 earnings at $0.37 EPS, Q3 2026 earnings at $0.38 EPS and FY2026 earnings at $1.50 EPS.

Several other equities analysts have also issued reports on PPBI. Raymond James upped their target price on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Stephens upped their price objective on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.50.

Pacific Premier Bancorp Trading Down 0.6 %

NASDAQ:PPBI opened at $26.04 on Monday. Pacific Premier Bancorp has a 52 week low of $18.60 and a 52 week high of $30.13. The firm has a 50-day moving average price of $25.14 and a two-hundred day moving average price of $23.92. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 200.31 and a beta of 1.22.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $224.49 million for the quarter, compared to the consensus estimate of $153.23 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share.

Institutional Trading of Pacific Premier Bancorp

A number of hedge funds have recently made changes to their positions in the stock. Fidelis Capital Partners LLC bought a new stake in Pacific Premier Bancorp in the 1st quarter worth approximately $27,000. GAMMA Investing LLC lifted its holdings in shares of Pacific Premier Bancorp by 121.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 649 shares during the last quarter. nVerses Capital LLC lifted its holdings in shares of Pacific Premier Bancorp by 93.8% in the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 1,500 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Pacific Premier Bancorp in the 2nd quarter valued at $95,000. Finally, Point72 DIFC Ltd grew its holdings in shares of Pacific Premier Bancorp by 202.9% during the 2nd quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider’s stock valued at $183,000 after purchasing an additional 5,336 shares during the last quarter. 93.11% of the stock is owned by institutional investors.

Insider Activity

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.63, for a total transaction of $720,691.37. Following the completion of the transaction, the chief operating officer now owns 230,592 shares in the company, valued at $5,448,888.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Pacific Premier Bancorp news, Director Jeff C. Jones sold 11,251 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the transaction, the director now directly owns 123,794 shares in the company, valued at $2,924,014.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Edward Earl Wilcox sold 30,499 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.63, for a total transaction of $720,691.37. Following the completion of the transaction, the chief operating officer now directly owns 230,592 shares of the company’s stock, valued at approximately $5,448,888.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th will be paid a $0.33 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.32 annualized dividend and a dividend yield of 5.07%. Pacific Premier Bancorp’s payout ratio is presently 1,015.38%.

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.