Brokers Issue Forecasts for Pacific Premier Bancorp, Inc.’s Q3 2024 Earnings (NASDAQ:PPBI)

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Equities research analysts at DA Davidson cut their Q3 2024 EPS estimates for shares of Pacific Premier Bancorp in a research report issued to clients and investors on Thursday, October 3rd. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $0.41 per share for the quarter, down from their previous estimate of $0.43. The consensus estimate for Pacific Premier Bancorp’s current full-year earnings is $1.65 per share. DA Davidson also issued estimates for Pacific Premier Bancorp’s FY2024 earnings at $1.68 EPS and FY2025 earnings at $1.70 EPS.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $154.62 million during the quarter, compared to analyst estimates of $162.23 million. During the same period in the previous year, the firm posted $0.60 EPS. The company’s revenue for the quarter was down 9.5% compared to the same quarter last year.

Other research analysts also recently issued research reports about the stock. Wedbush dropped their price objective on shares of Pacific Premier Bancorp from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Raymond James upped their price objective on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Stephens upped their price objective on shares of 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.83.

Pacific Premier Bancorp Trading Up 1.4 %

NASDAQ PPBI opened at $24.59 on Friday. Pacific Premier Bancorp has a 12 month low of $17.86 and a 12 month high of $30.13. The company has a 50-day moving average of $24.90 and a 200-day moving average of $23.55. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $2.37 billion, a P/E ratio of 189.31 and a beta of 1.22.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, August 5th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date of this dividend was Monday, August 5th. Pacific Premier Bancorp’s payout ratio is currently 1,015.38%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the company’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 value 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the company’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 value 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeff C. Jones sold 11,251 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the completion of the transaction, the director now owns 123,794 shares of the company’s stock, valued at approximately $2,924,014.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.21% of the stock is owned by company insiders.

Institutional Trading of Pacific Premier Bancorp

A number of hedge funds have recently made changes to their positions in the stock. EP Wealth Advisors LLC acquired a new stake in shares of Pacific Premier Bancorp during the second quarter worth approximately $667,000. Algert Global LLC grew its position in shares of Pacific Premier Bancorp by 28.9% during the second quarter. Algert Global LLC now owns 192,259 shares of the financial services provider’s stock worth $4,416,000 after buying an additional 43,091 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Pacific Premier Bancorp by 5.7% during the second quarter. The Manufacturers Life Insurance Company now owns 53,831 shares of the financial services provider’s stock worth $1,236,000 after buying an additional 2,908 shares in the last quarter. Millennium Management LLC grew its position in shares of Pacific Premier Bancorp by 14.2% during the second quarter. Millennium Management LLC now owns 150,763 shares of the financial services provider’s stock worth $3,463,000 after buying an additional 18,779 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in shares of Pacific Premier Bancorp by 0.8% during the second quarter. Cubist Systematic Strategies LLC now owns 75,842 shares of the financial services provider’s stock worth $1,742,000 after buying an additional 631 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

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.