Wedbush Weighs in on Pacific Premier Bancorp, Inc.'s Q1 2024 Earnings (NASDAQ:PPBI)

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) - Stock analysts at Wedbush reduced their Q1 2024 earnings estimates for Pacific Premier Bancorp in a research report issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings per share of $0.45 for the quarter, down from their previous forecast of $0.48. Wedbush has a "Neutral" rating and a $30.00 price objective on the stock. The consensus estimate for Pacific Premier Bancorp's current full-year earnings is $1.98 per share. Wedbush also issued estimates for Pacific Premier Bancorp's Q2 2024 earnings at $0.47 EPS, Q3 2024 earnings at $0.50 EPS, Q4 2024 earnings at $0.52 EPS, FY2024 earnings at $1.95 EPS, Q1 2025 earnings at $0.53 EPS, Q2 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.55 EPS and Q4 2025 earnings at $0.57 EPS.

A number of other research analysts have also recently weighed in on the stock. Stephens restated an "equal weight" rating and set a $28.00 target price on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. Raymond James reiterated an "outperform" rating and set a $29.00 price target (up from $26.00) on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. TheStreet downgraded shares of Pacific Premier Bancorp from a "b-" rating to a "c+" rating in a report on Monday, January 29th. StockNews.com upgraded shares of Pacific Premier Bancorp to a "sell" rating in a report on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Pacific Premier Bancorp from $24.00 to $25.00 and gave the stock a "market perform" rating in a research note on Monday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $28.60.

Pacific Premier Bancorp Stock Performance

NASDAQ:PPBI traded down $0.02 during trading hours on Thursday, reaching $24.00. The company had a trading volume of 410,239 shares, compared to its average volume of 540,392. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. Pacific Premier Bancorp has a 52 week low of $17.53 and a 52 week high of $30.13. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 80.13 and a beta of 1.20. The firm's 50 day moving average price is $24.43 and its 200-day moving average price is $24.00.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 7.50%. The company had revenue of ($17.00) million during the quarter, compared to the consensus estimate of $169.50 million. During the same quarter last year, the firm earned $0.77 earnings per share.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in 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 worth $329,437,000 after acquiring an additional 65,694 shares in the last quarter. Wellington Management Group LLP raised its position in Pacific Premier Bancorp by 16.3% in the 4th quarter. Wellington Management Group LLP now owns 320,186 shares of the financial services provider's stock valued at $9,321,000 after purchasing an additional 44,919 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Pacific Premier Bancorp by 6.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,477,208 shares of the financial services provider's stock valued at $43,002,000 after purchasing an additional 86,564 shares during the last quarter. Chartwell Investment Partners LLC raised its position in Pacific Premier Bancorp by 45.2% in the 4th quarter. Chartwell Investment Partners LLC now owns 438,532 shares of the financial services provider's stock valued at $12,765,000 after purchasing an additional 136,581 shares during the last quarter. Finally, Barclays PLC raised its position in Pacific Premier Bancorp by 50.7% in the 4th quarter. Barclays PLC now owns 216,141 shares of the financial services provider's stock valued at $6,292,000 after purchasing an additional 72,724 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company's stock.

Insiders Place Their Bets

In related news, Director Barbara Polsky purchased 1,200 shares of the company's stock in a transaction on Thursday, March 21st. The stock was acquired at an average cost of $23.92 per share, for a total transaction of $28,704.00. Following the completion of the transaction, the director now directly owns 14,507 shares in the company, valued at $347,007.44. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.31% of the stock is owned by insiders.

Pacific Premier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 9th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date of this dividend was Thursday, February 8th. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 440.00%.

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.