Wedbush Has Negative Outlook for PPBI FY2024 Earnings

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) - Investment analysts at Wedbush decreased their FY2024 EPS estimates for Pacific Premier Bancorp in a research note issued to investors on Friday, October 25th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings per share of $1.62 for the year, down from their previous estimate of $1.74. Wedbush currently has a "Neutral" rating and a $25.00 target price on the stock. The consensus estimate for Pacific Premier Bancorp's current full-year earnings is $1.64 per share. Wedbush also issued estimates for Pacific Premier Bancorp's Q4 2024 earnings at $0.33 EPS, Q2 2025 earnings at $0.33 EPS, Q3 2025 earnings at $0.35 EPS, Q4 2025 earnings at $0.36 EPS, FY2025 earnings at $1.35 EPS, Q1 2026 earnings at $0.35 EPS, Q2 2026 earnings at $0.37 EPS, Q3 2026 earnings at $0.38 EPS and FY2026 earnings at $1.50 EPS.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The company had revenue of $224.49 million for the quarter, compared to the consensus estimate of $153.23 million. During the same period in the prior year, the firm posted $0.48 EPS.

Several other equities analysts have also recently weighed in on PPBI. Raymond James increased their price target on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Stephens increased their price target on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $26.50.

Pacific Premier Bancorp Stock Up 4.4 %

NASDAQ PPBI traded up $1.10 during mid-day trading on Monday, reaching $26.19. The stock had a trading volume of 626,258 shares, compared to its average volume of 544,904. The stock has a market cap of $2.53 billion, a PE ratio of 201.46 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.89. The company has a fifty day moving average price of $25.11 and a 200 day moving average price of $23.89. Pacific Premier Bancorp has a 1 year low of $18.60 and a 1 year high of $30.13.

Institutional Investors Weigh In On Pacific Premier Bancorp

A number of institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its stake in Pacific Premier Bancorp by 336.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 19,294 shares of the financial services provider's stock worth $485,000 after buying an additional 14,869 shares in the last quarter. CWC Advisors LLC. bought a new position in shares of Pacific Premier Bancorp during the 3rd quarter valued at about $235,000. Assenagon Asset Management S.A. boosted its holdings in shares of Pacific Premier Bancorp by 61.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider's stock valued at $16,214,000 after purchasing an additional 245,771 shares during the last quarter. Creative Planning bought a new position in shares of Pacific Premier Bancorp during the 3rd quarter valued at about $427,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Pacific Premier Bancorp by 121.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 649 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company's stock.

Insider Transactions at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 30,499 shares of the company's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the sale, the chief operating officer now directly owns 230,592 shares in the company, valued at $5,448,888.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Pacific Premier Bancorp news, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the completion of the sale, the director now owns 123,794 shares in the company, valued at approximately $2,924,014.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the sale, the chief operating officer now owns 230,592 shares of the company's stock, valued at $5,448,888.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by company insiders.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th will be paid a $0.33 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.32 annualized dividend and a dividend yield of 5.04%. Pacific Premier Bancorp's dividend payout ratio (DPR) is 1,015.38%.

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.