Pacific Premier Bancorp (NASDAQ:PPBI) Posts Earnings Results, Misses Estimates By $0.01 EPS

by · The Cerbat Gem

Pacific Premier Bancorp (NASDAQ:PPBI – Get Free Report) issued its quarterly earnings data on Thursday. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01), Briefing.com reports. The firm had revenue of $224.49 million for the quarter, compared to analysts’ expectations of $153.23 million. During the same period in the prior year, the company earned $0.48 EPS.

Pacific Premier Bancorp Stock Performance

Shares of NASDAQ PPBI traded up $0.08 during trading on Friday, reaching $25.09. 532,276 shares of the company traded hands, compared to its average volume of 544,998. The firm has a 50 day simple moving average of $25.09 and a 200-day simple moving average of $23.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 0.89. Pacific Premier Bancorp has a 52-week low of $18.60 and a 52-week high of $30.13.

Pacific Premier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date is Monday, November 4th. Pacific Premier Bancorp’s payout ratio is presently -3,299.18%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Raymond James lifted their price objective on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Stephens upped their target price on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Wedbush cut their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday. 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.50.

Read Our Latest Stock Report on PPBI

Insider Activity

In related news, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the transaction, the chief operating officer now owns 230,592 shares of the company’s stock, valued at approximately $5,448,888.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the transaction, the chief operating officer now owns 230,592 shares of the company’s stock, valued at approximately $5,448,888.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeff C. Jones sold 11,251 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.62, for a total transaction of $265,748.62. Following the completion of the transaction, the director now directly owns 123,794 shares in the company, valued at approximately $2,924,014.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

About Pacific Premier Bancorp

(Get Free Report)

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.

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