Pacific Premier Bancorp (NASDAQ:PPBI) Trading Up 5.5% After Strong Earnings

Key Points

• Pacific Premier Bancorp shares increased by 5.5% following an announcement of better than expected quarterly earnings, reporting $0.39 earnings per share, which surpassed analysts' predictions of $0.34.
• The company generated revenue of $145.64 million for the quarter, slightly below analysts' expectations of $147.67 million.
• Pacific Premier Bancorp currently holds a consensus rating of "Hold" from analysts, with a price target of $27.25.
• Insider transactions reveal that COO Edward Earl Wilcox sold 14,500 shares, representing a 9.37% decrease in their position in the company.

Pacific Premier Bancorp Inc (NASDAQ:PPBI - Get Free Report) shares traded up 5.5% during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $22.14 and last traded at $22.32. 612,088 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 859,792 shares. The stock had previously closed at $21.16.

The financial services provider reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.05. Pacific Premier Bancorp had a return on equity of 5.01% and a net margin of 16.89%. The firm had revenue of $145.64 million during the quarter, compared to analysts' expectations of $147.67 million. During the same quarter in the prior year, the business earned $0.43 EPS.

Wall Street Analyst Weigh In

PPBI has been the subject of several research analyst reports. DA Davidson downgraded Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 24th. Wall Street Zen initiated coverage on Pacific Premier Bancorp in a research note on Thursday, May 22nd. They set a "sell" rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Pacific Premier Bancorp presently has a consensus rating of "Hold" and a consensus price target of $27.25.

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 14,500 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $20.28, for a total value of $294,060.00. Following the sale, the chief operating officer owned 140,283 shares of the company's stock, valued at $2,844,939.24. This trade represents a 9.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.29% of the stock is owned by company insiders.

Institutional Trading of Pacific Premier Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc acquired a new stake in Pacific Premier Bancorp in the 2nd quarter valued at approximately $29,000. Quarry LP grew its stake in shares of Pacific Premier Bancorp by 488.3% during the first quarter. Quarry LP now owns 1,459 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 1,211 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Pacific Premier Bancorp by 8,794.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,601 shares of the financial services provider's stock worth $34,000 after acquiring an additional 1,583 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Pacific Premier Bancorp by 47.9% during the first quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider's stock worth $49,000 after acquiring an additional 741 shares during the last quarter. Finally, Sterling Capital Management LLC raised its position in shares of Pacific Premier Bancorp by 729.4% during the fourth quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider's stock worth $75,000 after acquiring an additional 2,655 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company's stock.

Pacific Premier Bancorp Trading Up 5.1%

The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50 day moving average of $21.59 and a 200 day moving average of $22.23. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 14.64 and a beta of 1.16.

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.

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