DA Davidson Weighs in on Pacific Premier Bancorp, Inc.’s Q2 2024 Earnings (NASDAQ:PPBI)

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Pacific Premier Bancorp in a research note issued on Thursday, April 25th. DA Davidson analyst G. Tenner forecasts that the financial services provider will post earnings of $0.43 per share for the quarter. DA Davidson has a “Buy” rating and a $27.00 price objective on the stock. The consensus estimate for Pacific Premier Bancorp’s current full-year earnings is $1.93 per share. DA Davidson also issued estimates for Pacific Premier Bancorp’s FY2025 earnings at $2.03 EPS.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. The business had revenue of $239.21 million for the quarter, compared to the consensus estimate of $166.98 million. During the same quarter last year, the firm posted $0.66 EPS.

Several other analysts also recently weighed in on PPBI. StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a research note on Tuesday. Raymond James restated an “outperform” rating and set a $25.00 price objective (down previously from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday. TheStreet downgraded Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Monday, January 29th. Stephens reiterated an “equal weight” rating and set a $28.00 target price on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. Finally, Wedbush reissued a “neutral” rating and set a $25.00 price target on shares of Pacific Premier Bancorp in a research report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.17.

Pacific Premier Bancorp Trading Down 0.8 %

PPBI opened at $21.98 on Friday. The firm’s 50 day moving average is $22.96 and its 200-day moving average is $24.08. Pacific Premier Bancorp has a 52-week low of $17.53 and a 52-week high of $30.13. The company has a quick ratio of 0.93, a current ratio of 0.90 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2.11 billion, a P/E ratio of 169.09 and a beta of 1.21.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, May 6th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 6.01%. The ex-dividend date of this dividend is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 1,015.46%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, Director Barbara Polsky acquired 1,200 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were purchased at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the completion of the purchase, the director now directly owns 14,507 shares in the company, valued at $347,007.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pacific Premier Bancorp

Several large investors have recently made changes to their positions in the company. WBI Investments Inc. grew its holdings in Pacific Premier Bancorp by 4.8% in the 3rd quarter. WBI Investments Inc. now owns 15,328 shares of the financial services provider’s stock worth $334,000 after buying an additional 708 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Pacific Premier Bancorp by 7.6% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 14,882 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 1,052 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Pacific Premier Bancorp in the fourth quarter worth $42,000. Teza Capital Management LLC increased its holdings in shares of Pacific Premier Bancorp by 13.6% during the third quarter. Teza Capital Management LLC now owns 13,417 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 1,610 shares during the period. Finally, Truist Financial Corp raised its stake in shares of Pacific Premier Bancorp by 5.8% during the fourth quarter. Truist Financial Corp now owns 33,848 shares of the financial services provider’s stock valued at $985,000 after purchasing an additional 1,842 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Pacific Premier Bancorp Company Profile

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.