Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Forecasted to Post Q1 2023 Earnings of $0.72 Per Share

Posted by Defense World Staff on Apr 7th, 2023

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI – Get Rating) – Equities research analysts at DA Davidson dropped their Q1 2023 earnings per share estimates for Pacific Premier Bancorp in a research report issued on Wednesday, April 5th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings of $0.72 per share for the quarter, down from their prior forecast of $0.73. The consensus estimate for Pacific Premier Bancorp’s current full-year earnings is $2.82 per share.

Several other research firms have also recently weighed in on PPBI. StockNews.com cut Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, March 30th. Raymond James dropped their price target on Pacific Premier Bancorp from $37.00 to $34.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 27th.

Pacific Premier Bancorp Trading Up 1.1 %

Shares of Pacific Premier Bancorp stock opened at $23.13 on Thursday. The stock has a fifty day simple moving average of $29.53 and a 200 day simple moving average of $32.11. Pacific Premier Bancorp has a 12-month low of $22.33 and a 12-month high of $37.50. The company has a market capitalization of $2.20 billion, a P/E ratio of 7.79 and a beta of 1.21. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48.

Pacific Premier Bancorp (NASDAQ:PPBI – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The financial services provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.01). Pacific Premier Bancorp had a net margin of 33.10% and a return on equity of 10.25%. The firm had revenue of $238.28 million for the quarter, compared to the consensus estimate of $202.25 million. During the same quarter in the prior year, the firm earned $0.89 EPS.

Pacific Premier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 10th. Stockholders of record on Friday, February 3rd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, February 2nd. This represents a $1.32 annualized dividend and a dividend yield of 5.71%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Insider Buying and Selling

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 19,000 shares of the stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $33.38, for a total value of $634,220.00. Following the completion of the sale, the chief operating officer now owns 153,782 shares in the company, valued at approximately $5,133,243.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Pacific Premier Bancorp by 19.0% in the 1st quarter. JPMorgan Chase & Co. now owns 274,989 shares of the financial services provider’s stock worth $9,721,000 after purchasing an additional 43,956 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Pacific Premier Bancorp by 1.2% in the first quarter. Raymond James & Associates now owns 46,891 shares of the financial services provider’s stock worth $1,658,000 after acquiring an additional 534 shares during the period. Citigroup Inc. grew its holdings in shares of Pacific Premier Bancorp by 9.9% in the first quarter. Citigroup Inc. now owns 83,219 shares of the financial services provider’s stock worth $2,941,000 after acquiring an additional 7,486 shares during the period. PNC Financial Services Group Inc. lifted its position in Pacific Premier Bancorp by 6.2% during the first quarter. PNC Financial Services Group Inc. now owns 32,267 shares of the financial services provider’s stock valued at $1,140,000 after purchasing an additional 1,881 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in Pacific Premier Bancorp by 46.1% during the first quarter. Bank of Montreal Can now owns 49,928 shares of the financial services provider’s stock valued at $1,802,000 after purchasing an additional 15,753 shares in the last quarter. Hedge funds and other institutional investors own 94.22% of the company’s stock.

About Pacific Premier Bancorp

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Pacific Premier Bancorp, Inc is a bank holding company, which engages in the provision of banking services through its subsidiary, Pacific Premier Bank. It offers deposit products and services for business and consumer customers, including checking, money market and savings accounts, cash management services, electronic banking, and on-line bill payment.