Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Investment analysts at DA Davidson raised their Q1 2018 earnings estimates for shares of Pacific Premier Bancorp in a research report issued on Tuesday. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings per share of $0.62 for the quarter, up from their previous estimate of $0.55. DA Davidson also issued estimates for Pacific Premier Bancorp’s Q2 2018 earnings at $0.65 EPS, Q3 2018 earnings at $0.68 EPS, Q4 2018 earnings at $0.71 EPS, FY2018 earnings at $2.66 EPS and FY2019 earnings at $3.09 EPS.
A number of other analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Wednesday, December 27th. ValuEngine lowered shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $49.00 target price on shares of Pacific Premier Bancorp in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $44.75.
Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. The business had revenue of $87.62 million for the quarter, compared to analysts’ expectations of $83.30 million. Pacific Premier Bancorp had a net margin of 19.96% and a return on equity of 8.65%. During the same period last year, the firm posted $0.43 earnings per share.
In related news, CFO Ronald J. Jr. Nicolas bought 2,500 shares of the business’s stock in a transaction on Monday, November 13th. The shares were purchased at an average price of $36.97 per share, for a total transaction of $92,425.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.59% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Citigroup Inc. boosted its position in Pacific Premier Bancorp by 664.8% in the second quarter. Citigroup Inc. now owns 3,044 shares of the financial services provider’s stock valued at $113,000 after buying an additional 2,646 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in Pacific Premier Bancorp by 52.0% in the second quarter. Ameritas Investment Partners Inc. now owns 3,441 shares of the financial services provider’s stock valued at $127,000 after buying an additional 1,177 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of Pacific Premier Bancorp by 266.5% during the third quarter. Quantbot Technologies LP now owns 4,182 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 3,041 shares during the period. Strs Ohio acquired a new position in shares of Pacific Premier Bancorp during the third quarter worth $196,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Pacific Premier Bancorp by 9.4% during the second quarter. PNC Financial Services Group Inc. now owns 5,340 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 460 shares during the period. Hedge funds and other institutional investors own 71.87% of the company’s stock.
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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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