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

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Pacific Premier Bancorp in a research note issued on Thursday, April 25th. DA Davidson analyst G. Tenner anticipates that the financial services provider will post earnings of $0.43 per share for the quarter. DA Davidson currently has a “Buy” rating and a $27.00 target price 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.

Other equities analysts have also issued research reports about the stock. Raymond James reissued an “outperform” rating and issued a $25.00 price target (down previously from $29.00) on shares of Pacific Premier Bancorp in a report on Thursday. Wedbush restated a “neutral” rating and issued a $25.00 price target on shares of Pacific Premier Bancorp in a report on Thursday. StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a report on Tuesday. Keefe, Bruyette & Woods lowered their target price on Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a research note on Thursday. Finally, Stephens reissued an “equal weight” rating and issued a $28.00 price target on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.17.

Pacific Premier Bancorp Price Performance

Shares of PPBI opened at $21.98 on Friday. The stock has a market cap of $2.11 billion, a P/E ratio of 169.09 and a beta of 1.21. The stock’s 50-day moving average price is $22.96 and its two-hundred day moving average price is $24.08. The company has a current ratio of 0.90, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18. Pacific Premier Bancorp has a 1 year low of $17.53 and a 1 year high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $166.98 million. During the same period in the prior year, the business posted $0.66 earnings per share.

Pacific Premier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.32 annualized dividend and a yield of 6.01%. Pacific Premier Bancorp’s payout ratio is currently 1,015.46%.

Insiders Place Their Bets

In related news, Director Barbara Polsky acquired 1,200 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were bought at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the purchase, the director now directly owns 14,507 shares in the company, valued at approximately $347,007.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.21% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in shares of Pacific Premier Bancorp by 63.8% during the 3rd quarter. SG Americas Securities LLC now owns 91,038 shares of the financial services provider’s stock worth $1,981,000 after acquiring an additional 35,454 shares during the period. Brown Advisory Inc. boosted its position in Pacific Premier Bancorp by 4.0% during the third quarter. Brown Advisory Inc. now owns 1,709,458 shares of the financial services provider’s stock worth $37,198,000 after purchasing an additional 66,113 shares during the period. Rosenthal Henry Capital Advisors Inc. increased its holdings in shares of Pacific Premier Bancorp by 19.1% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 59,657 shares of the financial services provider’s stock valued at $1,298,000 after purchasing an additional 9,566 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position 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 valued at $324,000 after purchasing an additional 1,052 shares during the period. Finally, Ieq Capital LLC acquired a new stake in shares of Pacific Premier Bancorp during the 3rd quarter worth about $6,091,000. 93.11% of the stock is currently owned by institutional investors and hedge funds.

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.