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

by · The Markets Daily

Pacific Premier Bancorp (NASDAQ:PPBI – Get Free Report) released its quarterly earnings results 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 company had revenue of $224.49 million for the quarter, compared to analysts’ expectations of $153.23 million. During the same quarter in the prior year, the company earned $0.48 earnings per share.

Pacific Premier Bancorp Trading Down 0.3 %

Shares of PPBI stock traded down $0.08 during trading on Friday, hitting $24.93. 205,321 shares of the stock traded hands, compared to its average volume of 543,419. The firm has a market capitalization of $2.40 billion, a P/E ratio of 192.92 and a beta of 1.22. Pacific Premier Bancorp has a 52-week low of $18.60 and a 52-week high of $30.13. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.89. The firm’s fifty day moving average price is $25.09 and its 200-day moving average price is $23.82.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend is Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is currently 1,015.38%.

Insider Buying and Selling at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.63, for a total transaction of $720,691.37. Following the completion of the transaction, the chief operating officer now owns 230,592 shares of the company’s stock, valued at $5,448,888.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Edward Earl Wilcox sold 30,499 shares of the company’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 transaction of $720,691.37. Following the sale, the chief operating officer now directly owns 230,592 shares in the company, valued at approximately $5,448,888.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeff C. Jones sold 11,251 shares of Pacific Premier Bancorp stock in a transaction 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 sale, the director now directly owns 123,794 shares of the company’s stock, valued at approximately $2,924,014.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Stephens lifted their target price on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Wedbush decreased their target price on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Raymond James lifted their price target on Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pacific Premier Bancorp has a consensus rating of “Hold” and a consensus price target of $26.50.

View Our Latest Research Report on PPBI

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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