Equities Analysts Issue Forecasts for Pacific Premier Bancorp Inc’s Q3 2017 Earnings (NASDAQ:PPBI)
Pacific Premier Bancorp Inc (NASDAQ:PPBI) – FIG Partners lowered their Q3 2017 earnings estimates for Pacific Premier Bancorp in a report issued on Wednesday. FIG Partners analyst T. Coffey now forecasts that the financial services provider will post earnings of $0.50 per share for the quarter, down from their previous estimate of $0.52. FIG Partners also issued estimates for Pacific Premier Bancorp’s FY2017 earnings at $1.95 EPS, Q2 2018 earnings at $0.58 EPS, Q3 2018 earnings at $0.60 EPS, Q4 2018 earnings at $0.63 EPS and FY2018 earnings at $2.36 EPS.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by $0.12. Pacific Premier Bancorp had a net margin of 19.85% and a return on equity of 11.98%. The company had revenue of $72.10 million during the quarter, compared to analyst estimates of $68.18 million. During the same quarter last year, the business posted $0.38 EPS. COPYRIGHT VIOLATION WARNING: “Equities Analysts Issue Forecasts for Pacific Premier Bancorp Inc’s Q3 2017 Earnings (NASDAQ:PPBI)” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another site, it was illegally copied and republished in violation of international copyright law. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/08/08/equities-analysts-issue-forecasts-for-pacific-premier-bancorp-incs-q3-2017-earnings-nasdaqppbi-updated.html.
Several other research firms have also weighed in on PPBI. Stephens lowered Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. BidaskClub lowered Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine upgraded Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research note on Monday. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $42.00 price objective on shares of Pacific Premier Bancorp in a research note on Wednesday, June 28th. Finally, Zacks Investment Research lowered Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $41.75.
Pacific Premier Bancorp (NASDAQ PPBI) traded down 1.98% during midday trading on Friday, hitting $34.65. The stock had a trading volume of 17,785 shares. The company’s 50-day moving average price is $36.65 and its 200 day moving average price is $37.24. The stock has a market cap of $1.38 billion, a P/E ratio of 23.62 and a beta of 0.73. Pacific Premier Bancorp has a 12-month low of $24.00 and a 12-month high of $41.90.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC purchased a new position in Pacific Premier Bancorp during the first quarter valued at about $109,000. Envestnet Asset Management Inc. increased its position in Pacific Premier Bancorp by 7.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,926 shares of the financial services provider’s stock valued at $112,000 after buying an additional 207 shares in the last quarter. North Star Investment Management Corp. purchased a new position in Pacific Premier Bancorp during the second quarter valued at about $133,000. PNC Financial Services Group Inc. purchased a new position in Pacific Premier Bancorp during the first quarter valued at about $188,000. Finally, Paloma Partners Management Co purchased a new position in Pacific Premier Bancorp during the first quarter valued at about $201,000. 62.72% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Simone Lagomarsino sold 6,250 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $37.00, for a total transaction of $231,250.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 29,799 shares of company stock worth $1,099,688. 4.59% of the stock is owned by corporate insiders.
Pacific Premier Bancorp Company Profile
Pacific Premier Bancorp, Inc is a bank holding company. The Company’s subsidiary, Pacific Premier Bank (the Bank), is a California state-chartered commercial bank. The Company’s principal business is attracting deposits from small and middle market businesses and consumers and investing those deposits together with funds generated from operations and borrowings, primarily in commercial business loans and various types of commercial real estate (CRE) loans.
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