Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Equities research analysts at Piper Jaffray Companies upped their Q2 2020 earnings per share estimates for Pacific Premier Bancorp in a research note issued on Tuesday, December 3rd. Piper Jaffray Companies analyst M. Clark now forecasts that the financial services provider will post earnings per share of $0.62 for the quarter, up from their previous forecast of $0.61. Piper Jaffray Companies also issued estimates for Pacific Premier Bancorp’s Q3 2020 earnings at $0.64 EPS, Q4 2020 earnings at $0.65 EPS and FY2020 earnings at $2.49 EPS.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.07. Pacific Premier Bancorp had a return on equity of 8.07% and a net margin of 28.03%. The business had revenue of $123.77 million for the quarter, compared to analyst estimates of $117.66 million. During the same period in the prior year, the company posted $0.46 EPS.
Pacific Premier Bancorp stock opened at $32.45 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 1.02. Pacific Premier Bancorp has a 12 month low of $23.01 and a 12 month high of $34.90. The company has a fifty day moving average price of $32.94 and a two-hundred day moving average price of $30.87. The company has a market cap of $1.93 billion, a PE ratio of 12.93 and a beta of 1.22.
The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Thursday, October 31st. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 35.06%.
In related news, EVP Tom Rice sold 3,829 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total value of $129,420.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Edward Earl Wilcox sold 13,969 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $33.85, for a total transaction of $472,850.65. The disclosure for this sale can be found here. Insiders have sold 87,309 shares of company stock valued at $2,879,400 over the last ninety days. Corporate insiders own 3.67% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in shares of Pacific Premier Bancorp by 12.5% in the second quarter. BlackRock Inc. now owns 7,587,878 shares of the financial services provider’s stock valued at $234,314,000 after purchasing an additional 843,759 shares during the period. Vanguard Group Inc. grew its holdings in Pacific Premier Bancorp by 6.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,929,371 shares of the financial services provider’s stock worth $183,099,000 after buying an additional 379,035 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Pacific Premier Bancorp by 9.0% in the 2nd quarter. Janus Henderson Group PLC now owns 5,046,515 shares of the financial services provider’s stock worth $155,836,000 after buying an additional 417,199 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Pacific Premier Bancorp by 11.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,499,092 shares of the financial services provider’s stock worth $108,052,000 after buying an additional 348,623 shares in the last quarter. Finally, State Street Corp increased its position in Pacific Premier Bancorp by 2.6% in the 3rd quarter. State Street Corp now owns 2,003,111 shares of the financial services provider’s stock valued at $62,477,000 after acquiring an additional 50,783 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.
Pacific Premier Bancorp Company Profile
Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.
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