Pacific Premier Bancorp, Inc. Expected to Earn Q1 2023 Earnings of $0.80 Per Share (NASDAQ:PPBI)

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI – Get Rating) – Research analysts at Wedbush dropped their Q1 2023 EPS estimates for shares of Pacific Premier Bancorp in a report issued on Wednesday, April 27th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings per share of $0.80 for the quarter, down from their prior estimate of $0.82. Wedbush also issued estimates for Pacific Premier Bancorp’s Q2 2023 earnings at $0.85 EPS, Q3 2023 earnings at $0.87 EPS and Q4 2023 earnings at $0.88 EPS.

PPBI has been the subject of a number of other reports. Zacks Investment Research raised shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Wednesday, April 6th. Stephens cut shares of Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $50.00 to $45.00 in a report on Tuesday, January 25th. Finally, StockNews.com assumed coverage on shares of Pacific Premier Bancorp in a report on Thursday, March 31st. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Pacific Premier Bancorp presently has a consensus rating of “Hold” and an average target price of $44.75.

Shares of NASDAQ PPBI opened at $32.16 on Thursday. Pacific Premier Bancorp has a 1-year low of $32.04 and a 1-year high of $47.46. The company has a market cap of $3.05 billion, a PE ratio of 9.01 and a beta of 1.21. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $35.95 and a two-hundred day moving average of $39.25.

Pacific Premier Bancorp (NASDAQ:PPBI – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.04). Pacific Premier Bancorp had a net margin of 42.24% and a return on equity of 12.10%. The firm had revenue of $187.70 million for the quarter, compared to the consensus estimate of $190.69 million. During the same period in the prior year, the business earned $0.72 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis.

Several hedge funds have recently made changes to their positions in PPBI. Strs Ohio raised its position in Pacific Premier Bancorp by 3.4% during the first quarter. Strs Ohio now owns 18,300 shares of the financial services provider’s stock worth $646,000 after acquiring an additional 600 shares in the last quarter. CWM LLC raised its position in Pacific Premier Bancorp by 135.5% during the first quarter. CWM LLC now owns 796 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 458 shares in the last quarter. Norges Bank bought a new stake in Pacific Premier Bancorp during the fourth quarter worth $34,599,000. Wells Fargo & Company MN raised its position in Pacific Premier Bancorp by 29.7% during the fourth quarter. Wells Fargo & Company MN now owns 151,938 shares of the financial services provider’s stock worth $6,083,000 after acquiring an additional 34,808 shares in the last quarter. Finally, EverSource Wealth Advisors LLC bought a new stake in Pacific Premier Bancorp during the fourth quarter worth $33,000. 91.99% of the stock is currently owned by institutional investors and hedge funds.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 13th. Stockholders of record on Friday, May 6th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Thursday, May 5th. Pacific Premier Bancorp’s dividend payout ratio is presently 36.97%.

Pacific Premier Bancorp Company Profile (Get Rating)

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.

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