DA Davidson Weighs in on Pacific Premier Bancorp, Inc.'s Q2 2024 Earnings (NASDAQ:PPBI)

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) - Equities research analysts at DA Davidson issued their Q2 2024 earnings estimates for Pacific Premier Bancorp in a research report issued on Thursday, April 25th. DA Davidson analyst G. Tenner anticipates that the financial services provider will post earnings per share of $0.43 for the quarter. DA Davidson has a "Buy" rating and a $27.00 price target on the stock. The consensus estimate for Pacific Premier Bancorp's current full-year earnings is $1.93 per share. DA Davidson also issued estimates for Pacific Premier Bancorp's FY2025 earnings at $2.03 EPS.

PPBI has been the subject of a number of other research reports. Raymond James reiterated an "outperform" rating and issued a $25.00 price target (down previously from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday. TheStreet downgraded shares of Pacific Premier Bancorp from a "b-" rating to a "c+" rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods decreased 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 note on Thursday. Wedbush reissued a "neutral" rating and set a $25.00 price objective on shares of Pacific Premier Bancorp in a report on Thursday. Finally, Stephens reissued an "equal weight" rating and set a $28.00 price objective on shares of Pacific Premier Bancorp in a 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's stock. According to MarketBeat, Pacific Premier Bancorp currently has a consensus rating of "Hold" and a consensus price target of $27.17.

Pacific Premier Bancorp Trading Down 0.8 %

Shares of PPBI traded down $0.18 during trading on Friday, reaching $21.98. 922,985 shares of the company traded hands, compared to its average volume of 536,400. Pacific Premier Bancorp has a twelve month low of $17.53 and a twelve month high of $30.13. The stock has a 50-day simple moving average of $22.96 and a 200-day simple moving average of $24.08. The company has a quick ratio of 0.93, a current ratio of 0.90 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.11 billion, a PE ratio of 169.09 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $239.21 million during the quarter, compared to analysts' expectations of $166.98 million. During the same period last year, the business earned $0.66 earnings per share.

Hedge Funds Weigh In On Pacific Premier Bancorp

A number of institutional investors have recently modified their holdings of PPBI. American Century Companies Inc. increased its stake in Pacific Premier Bancorp by 5.0% in the 3rd quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider's stock valued at $90,387,000 after buying an additional 198,874 shares during the period. EJF Capital LLC acquired a new position in Pacific Premier Bancorp in the 3rd quarter valued at $1,632,000. Natixis Advisors L.P. increased its stake in Pacific Premier Bancorp by 26.5% in the 3rd quarter. Natixis Advisors L.P. now owns 44,958 shares of the financial services provider's stock valued at $978,000 after buying an additional 9,406 shares during the period. Invesco Ltd. increased its stake in Pacific Premier Bancorp by 1.8% in the 3rd quarter. Invesco Ltd. now owns 1,392,420 shares of the financial services provider's stock valued at $30,299,000 after buying an additional 24,230 shares during the period. Finally, Versor Investments LP acquired a new position in Pacific Premier Bancorp in the 3rd quarter valued at $200,000. 93.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Pacific Premier Bancorp news, Director Barbara Polsky bought 1,200 shares of the business's stock in a transaction dated Thursday, March 21st. The shares were acquired at an average cost of $23.92 per share, with a total value of $28,704.00. Following the acquisition, the director now directly owns 14,507 shares of the company's stock, valued at approximately $347,007.44. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.21% of the company's stock.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.33 per share. 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 payout ratio is currently 1,015.46%.

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.