Pacific Premier Bancorp (NASDAQ:PPBI) Releases Earnings Results, Misses Expectations By $0.04 EPS

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

Pacific Premier Bancorp stock opened at $32.16 on Thursday. The stock has a market capitalization of $3.05 billion, a PE ratio of 9.01 and a beta of 1.21. Pacific Premier Bancorp has a twelve month low of $32.04 and a twelve month high of $47.46. The company has a quick ratio of 0.84, a current 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 200-day moving average of $39.25.

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

Several institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its holdings in shares of Pacific Premier Bancorp by 0.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 76,787 shares of the financial services provider’s stock valued at $3,074,000 after buying an additional 281 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Pacific Premier Bancorp by 42.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,215 shares of the financial services provider’s stock valued at $49,000 after buying an additional 363 shares during the period. LPL Financial LLC boosted its holdings in shares of Pacific Premier Bancorp by 6.3% in the third quarter. LPL Financial LLC now owns 6,487 shares of the financial services provider’s stock valued at $269,000 after buying an additional 382 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Pacific Premier Bancorp by 42.4% in the fourth quarter. Advisors Asset Management Inc. now owns 1,694 shares of the financial services provider’s stock valued at $68,000 after buying an additional 504 shares during the period. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of Pacific Premier Bancorp in the fourth quarter valued at approximately $33,000. Institutional investors own 91.99% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price target 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $44.75.

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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