Pacific Premier Bancorp, Inc. Forecasted to Earn Q1 2024 Earnings of $0.45 Per Share (NASDAQ:PPBI)

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Wedbush decreased their Q1 2024 EPS estimates for Pacific Premier Bancorp in a report issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of $0.45 for the quarter, down from their prior forecast of $0.48. Wedbush has a “Neutral” rating and a $30.00 price objective on the stock. The consensus estimate for Pacific Premier Bancorp’s current full-year earnings is $1.98 per share. Wedbush also issued estimates for Pacific Premier Bancorp’s Q2 2024 earnings at $0.47 EPS, Q3 2024 earnings at $0.50 EPS, Q4 2024 earnings at $0.52 EPS, FY2024 earnings at $1.95 EPS, Q1 2025 earnings at $0.53 EPS, Q2 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.55 EPS and Q4 2025 earnings at $0.57 EPS.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Monday, January 29th. The financial services provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 7.50%. The business had revenue of ($17.00) million for the quarter, compared to the consensus estimate of $169.50 million. During the same quarter last year, the firm posted $0.77 EPS.

Other equities analysts also recently issued research reports about the stock. Stephens reissued 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 raised their price target on shares of Pacific Premier Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a report on Monday, December 4th. TheStreet lowered shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Monday, January 29th. Raymond James reaffirmed an “outperform” rating and set a $29.00 price target (up from $26.00) on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Finally, StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pacific Premier Bancorp presently has a consensus rating of “Hold” and a consensus price target of $28.60.

Pacific Premier Bancorp Stock Performance

Shares of PPBI stock opened at $24.02 on Thursday. The company’s fifty day simple moving average is $24.43 and its 200-day simple moving average is $24.00. Pacific Premier Bancorp has a 52 week low of $17.53 and a 52 week high of $30.13. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The company has a market cap of $2.30 billion, a PE ratio of 80.07 and a beta of 1.20.

Institutional Trading of Pacific Premier Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Pacific Premier Bancorp by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock worth $329,437,000 after buying an additional 65,694 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Pacific Premier Bancorp by 16.3% in the 4th quarter. Wellington Management Group LLP now owns 320,186 shares of the financial services provider’s stock worth $9,321,000 after purchasing an additional 44,919 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Pacific Premier Bancorp by 6.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,477,208 shares of the financial services provider’s stock worth $43,002,000 after purchasing an additional 86,564 shares during the last quarter. Chartwell Investment Partners LLC grew its stake in shares of Pacific Premier Bancorp by 45.2% in the 4th quarter. Chartwell Investment Partners LLC now owns 438,532 shares of the financial services provider’s stock worth $12,765,000 after purchasing an additional 136,581 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Pacific Premier Bancorp by 50.7% in the fourth quarter. Barclays PLC now owns 216,141 shares of the financial services provider’s stock worth $6,292,000 after acquiring an additional 72,724 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors.

Insider Activity at Pacific Premier Bancorp

In other news, Director Barbara Polsky acquired 1,200 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 14,507 shares in the company, valued at approximately $347,007.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.31% of the stock is currently owned by insiders.

Pacific Premier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, February 9th were given a $0.33 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.32 annualized dividend and a yield of 5.50%. Pacific Premier Bancorp’s dividend payout ratio is presently 440.00%.

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.