DA Davidson Weighs in on Pacific Premier Bancorp, Inc.’s FY2024 Earnings (NASDAQ:PPBI)

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Stock analysts at DA Davidson dropped their FY2024 earnings per share (EPS) estimates for Pacific Premier Bancorp in a research report issued on Thursday, April 25th. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $1.78 per share for the year, down from their previous estimate of $2.08. DA Davidson currently has a “Buy” rating and a $27.00 target price on the stock. The consensus estimate for Pacific Premier Bancorp’s current full-year earnings is $1.84 per share.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $239.21 million during the quarter, compared to the consensus estimate of $166.98 million. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. During the same quarter in the previous year, the company posted $0.66 EPS.

PPBI has been the subject of a number of other research reports. TheStreet downgraded Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. Wedbush reiterated a “neutral” rating and issued a $25.00 price objective on shares of Pacific Premier Bancorp in a research report on Thursday, April 25th. Piper Sandler lowered their price objective on Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday. StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a research report on Tuesday, April 23rd. Finally, Keefe, Bruyette & Woods lowered their price objective on Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.33.

Pacific Premier Bancorp Stock Performance

NASDAQ:PPBI opened at $21.50 on Monday. The business has a 50 day moving average of $22.84 and a 200 day moving average of $24.12. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 165.40 and a beta of 1.21. Pacific Premier Bancorp has a 1-year low of $17.53 and a 1-year high of $30.13. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.93.

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, May 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.32 annualized dividend and a yield of 6.14%. Pacific Premier Bancorp’s payout ratio is 1,015.46%.

Insider Buying and Selling

In other news, Director Barbara Polsky purchased 1,200 shares of Pacific Premier Bancorp stock in a transaction that occurred on Thursday, March 21st. The shares were bought at an average cost of $23.92 per share, with a total value of $28,704.00. Following the completion of the purchase, 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 Securities & Exchange Commission, which is available at the SEC website. 2.21% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in shares of Pacific Premier Bancorp in the fourth quarter worth about $34,788,000. Schroder Investment Management Group purchased a new stake in shares of Pacific Premier Bancorp during the third quarter worth about $6,264,000. Ieq Capital LLC purchased a new stake in shares of Pacific Premier Bancorp during the third quarter worth about $6,091,000. Eagle Asset Management Inc. grew its position in shares of Pacific Premier Bancorp by 1,724.3% during the fourth quarter. Eagle Asset Management Inc. now owns 292,576 shares of the financial services provider’s stock worth $8,517,000 after purchasing an additional 276,538 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Pacific Premier Bancorp by 13.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,278,555 shares of the financial services provider’s stock worth $49,581,000 after purchasing an additional 269,119 shares in the last quarter. 93.11% of the stock is owned by institutional investors.

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.