Wedbush Research Analysts Cut Earnings Estimates for Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Research analysts at Wedbush dropped their Q2 2024 earnings estimates for shares of Pacific Premier Bancorp in a research report issued on Thursday, April 25th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will earn $0.46 per share for the quarter, down from their previous estimate of $0.47. Wedbush has a “Neutral” rating and a $25.00 price objective on the stock. The consensus estimate for Pacific Premier Bancorp’s current full-year earnings is $1.93 per share. Wedbush also issued estimates for Pacific Premier Bancorp’s Q3 2024 earnings at $0.46 EPS, Q4 2024 earnings at $0.45 EPS, FY2024 earnings at $1.85 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at $0.49 EPS, Q3 2025 earnings at $0.51 EPS, Q4 2025 earnings at $0.52 EPS and FY2025 earnings at $2.00 EPS.

PPBI has been the subject of several other research reports. DA Davidson cut their price objective on Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a report on Thursday. Keefe, Bruyette & Woods reduced their price target on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a research report on Thursday. StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a report on Tuesday. TheStreet lowered shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. Finally, Stephens reiterated an “equal weight” rating and issued a $28.00 price target on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $27.17.

Pacific Premier Bancorp Price Performance

Shares of PPBI opened at $21.98 on Friday. The firm has a fifty day simple moving average of $22.96 and a two-hundred day simple moving average of $24.08. The firm has a market cap of $2.11 billion, a PE ratio of 169.09 and a beta of 1.21. 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 issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $239.21 million for the quarter, compared to the consensus estimate of $166.98 million. During the same quarter in the prior year, the firm earned $0.66 earnings per share.

Hedge Funds Weigh In On Pacific Premier Bancorp

Several institutional investors have recently added to or reduced their stakes in PPBI. Vanguard Group Inc. boosted its position in shares of Pacific Premier Bancorp by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock valued at $329,437,000 after acquiring an additional 65,694 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Pacific Premier Bancorp by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,067,760 shares of the financial services provider’s stock valued at $147,527,000 after purchasing an additional 131,448 shares in the last quarter. American Century Companies Inc. lifted its position in Pacific Premier Bancorp by 5.0% during the third quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock valued at $90,387,000 after purchasing an additional 198,874 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Pacific Premier Bancorp by 9.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,486,456 shares of the financial services provider’s stock worth $72,381,000 after buying an additional 207,901 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in shares of Pacific Premier Bancorp by 4.0% in the 3rd quarter. Brown Advisory Inc. now owns 1,709,458 shares of the financial services provider’s stock worth $37,198,000 after buying an additional 66,113 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Insiders Place Their Bets

In related news, Director Barbara Polsky bought 1,200 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was purchased at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the completion of the transaction, the director now owns 14,507 shares in the company, valued at $347,007.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.21% of the stock is currently owned by corporate insiders.

Pacific Premier Bancorp Dividend Announcement

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

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.