Pacific Premier Bancorp, Inc. to Post Q2 2022 Earnings of $0.72 Per Share, Wedbush Forecasts (NASDAQ:PPBI)

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI – Get Rating) – Equities researchers at Wedbush dropped their Q2 2022 earnings per share (EPS) estimates for Pacific Premier Bancorp in a research report issued to clients and investors on Wednesday, April 27th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings of $0.72 per share for the quarter, down from their prior forecast of $0.74. Wedbush also issued estimates for Pacific Premier Bancorp’s Q3 2022 earnings at $0.78 EPS, Q4 2022 earnings at $0.80 EPS, FY2022 earnings at $3.00 EPS and FY2023 earnings at $3.40 EPS.

Other analysts also recently issued research reports about the stock. StockNews.com began coverage on shares of Pacific Premier Bancorp in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research downgraded Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Stephens downgraded Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $50.00 to $45.00 in a research note on Tuesday, January 25th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Pacific Premier Bancorp currently has an average rating of “Hold” and a consensus target price of $44.75.

Shares of Pacific Premier Bancorp stock 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 12-month low of $32.04 and a 12-month high of $47.46. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 9.23 and a beta of 1.21. The firm’s 50-day moving average price is $35.84 and its two-hundred day moving average price is $39.18.

Pacific Premier Bancorp (NASDAQ:PPBI – Get Rating) last released its earnings results on Tuesday, April 26th. The financial services provider reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $187.70 million for the quarter, compared to the consensus estimate of $190.69 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. grew its holdings in Pacific Premier Bancorp by 10.7% during the 4th quarter. American Century Companies Inc. now owns 2,497,684 shares of the financial services provider’s stock worth $99,982,000 after acquiring an additional 242,293 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of Pacific Premier Bancorp by 0.9% in the third quarter. Macquarie Group Ltd. now owns 1,996,342 shares of the financial services provider’s stock worth $82,729,000 after purchasing an additional 18,208 shares during the last quarter. Invesco Ltd. increased its holdings in Pacific Premier Bancorp by 7.9% in the fourth quarter. Invesco Ltd. now owns 1,774,493 shares of the financial services provider’s stock valued at $71,033,000 after purchasing an additional 129,650 shares during the period. Geode Capital Management LLC raised its position in Pacific Premier Bancorp by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 1,680,975 shares of the financial services provider’s stock worth $67,289,000 after purchasing an additional 74,592 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Pacific Premier Bancorp by 6.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,621,438 shares of the financial services provider’s stock worth $64,906,000 after buying an additional 101,718 shares during the period. 91.99% of the stock is owned by institutional investors and hedge funds.

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 given a dividend of $0.33 per share. The ex-dividend date of this dividend 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 is currently 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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