DA Davidson Comments on Pacific Premier Bancorp, Inc.’s FY2022 Earnings (NASDAQ:PPBI)

Pacific Premier Bancorp, Inc. (NASDAQ:PPBIGet Rating) – Equities research analysts at DA Davidson reduced their FY2022 earnings per share estimates for shares of Pacific Premier Bancorp in a report issued on Wednesday, April 27th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings of $3.03 per share for the year, down from their previous estimate of $3.16. DA Davidson also issued estimates for Pacific Premier Bancorp’s FY2023 earnings at $3.35 EPS.

Several other research firms have also weighed in on PPBI. Zacks Investment Research lowered Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Friday. StockNews.com assumed coverage on shares of Pacific Premier Bancorp in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Stephens downgraded Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $50.00 to $45.00 in a report on Tuesday, January 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.75.

Shares of NASDAQ:PPBI opened at $32.95 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.31. Pacific Premier Bancorp has a 52 week low of $32.04 and a 52 week high of $47.46. The company has a market cap of $3.13 billion, a P/E ratio of 9.23 and a beta of 1.21. The company has a 50-day moving average price of $35.84 and a 200 day moving average price of $39.18.

Pacific Premier Bancorp (NASDAQ:PPBIGet Rating) last posted its earnings results on Tuesday, April 26th. The financial services provider reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $190.69 million. During the same period in the previous year, the firm posted $0.72 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis.

Several large investors have recently made changes to their positions in the stock. CWM LLC increased its holdings in shares of Pacific Premier Bancorp by 135.5% in the first quarter. CWM LLC now owns 796 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 458 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Pacific Premier Bancorp during the 4th quarter worth $33,000. Northwestern Mutual Wealth Management Co. boosted its position in Pacific Premier Bancorp by 243.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 976 shares of the financial services provider’s stock valued at $39,000 after buying an additional 692 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in 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 purchasing an additional 363 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Pacific Premier Bancorp by 42.4% during the 4th quarter. Advisors Asset Management Inc. now owns 1,694 shares of the financial services provider’s stock worth $68,000 after buying an additional 504 shares during the period. Institutional investors and hedge funds own 91.99% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Friday, May 6th will be given a $0.33 dividend. The ex-dividend date is Thursday, May 5th. This represents a $1.32 dividend on an annualized basis and a yield of 4.01%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 36.97%.

About Pacific Premier Bancorp (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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Earnings History and Estimates for Pacific Premier Bancorp (NASDAQ:PPBI)

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