Pacific Premier Bancorp (NASDAQ:PPBI) Issues Quarterly Earnings Results

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) announced its quarterly earnings data on Thursday. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03, Zacks reports.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ:PPBI traded up $0.50 during midday trading on Thursday, reaching $24.92. 894,648 shares of the company's stock were exchanged, compared to its average volume of 455,407. The firm has a market capitalization of $2.40 billion, a PE ratio of -166.12 and a beta of 1.26. The company's 50 day simple moving average is $26.15 and its two-hundred day simple moving average is $25.68. Pacific Premier Bancorp has a 12 month low of $20.52 and a 12 month high of $30.28. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88.

Insider Activity at Pacific Premier Bancorp

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $27.96, for a total transaction of $259,273.08. Following the completion of the sale, the executive vice president now owns 25,475 shares of the company's stock, valued at approximately $712,281. This trade represents a 26.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael S. Karr sold 10,290 shares of the business's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total value of $276,492.30. Following the completion of the transaction, the executive vice president now directly owns 79,474 shares in the company, valued at $2,135,466.38. The trade was a 11.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Wedbush decreased their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Pacific Premier Bancorp presently has an average rating of "Hold" and an average price target of $26.50.

About Pacific Premier Bancorp

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.