DA Davidson Brokers Decrease Earnings Estimates for Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Equities research analysts at DA Davidson decreased their FY2024 earnings estimates for shares of Pacific Premier Bancorp in a research note issued on Thursday, April 25th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings per share of $1.78 for the year, down from their prior forecast of $2.08. DA Davidson has a “Buy” rating and a $27.00 price objective on the stock. The consensus estimate for Pacific Premier Bancorp’s current full-year earnings is $1.84 per share.

A number of other equities research analysts have also weighed in on the stock. TheStreet lowered shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. Stephens reissued an “equal weight” rating and set a $28.00 price target on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods lowered 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 research report on Tuesday, April 23rd. Finally, Wedbush reissued a “neutral” rating and set a $25.00 price target on shares of Pacific Premier Bancorp in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $27.17.

Pacific Premier Bancorp Trading Down 0.8 %

Shares of PPBI opened at $21.98 on Monday. The firm’s 50-day moving average price is $22.90 and its 200-day moving average price is $24.11. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 169.08 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 announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $239.21 million for the quarter, compared to analyst estimates of $166.98 million. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. During the same quarter last year, the firm earned $0.66 EPS.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders 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 annualized dividend and a yield of 6.01%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 1,015.38%.

Insider Activity

In related news, Director Barbara Polsky acquired 1,200 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was purchased at an average cost of $23.92 per share, with a total value of $28,704.00. Following the completion of the acquisition, the director now directly owns 14,507 shares of the company’s stock, valued at $347,007.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.21% of the stock is owned by corporate insiders.

Institutional Trading of Pacific Premier Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPBI. American Century Companies Inc. increased its stake in shares of Pacific Premier Bancorp by 5.0% in the third quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock worth $90,387,000 after purchasing an additional 198,874 shares in the last quarter. EJF Capital LLC purchased a new stake in shares of Pacific Premier Bancorp in the third quarter worth $1,632,000. Natixis Advisors L.P. increased its stake in shares of Pacific Premier Bancorp by 26.5% in the third quarter. Natixis Advisors L.P. now owns 44,958 shares of the financial services provider’s stock worth $978,000 after purchasing an additional 9,406 shares in the last quarter. Invesco Ltd. increased its stake in shares of Pacific Premier Bancorp by 1.8% in the third quarter. Invesco Ltd. now owns 1,392,420 shares of the financial services provider’s stock worth $30,299,000 after purchasing an additional 24,230 shares in the last quarter. Finally, Versor Investments LP purchased a new position in Pacific Premier Bancorp during the third quarter valued at $200,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

About Pacific Premier Bancorp

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.