Pacific Premier Bancorp, Inc. (PPBI) Expected to Post Quarterly Sales of $121.90 Million

Wall Street analysts expect Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) to post sales of $121.90 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Pacific Premier Bancorp’s earnings, with the lowest sales estimate coming in at $118.40 million and the highest estimate coming in at $125.00 million. Pacific Premier Bancorp reported sales of $88.95 million during the same quarter last year, which indicates a positive year over year growth rate of 37%. The firm is scheduled to announce its next earnings results on Tuesday, May 7th.

On average, analysts expect that Pacific Premier Bancorp will report full year sales of $506.95 million for the current year, with estimates ranging from $495.30 million to $516.90 million. For the next fiscal year, analysts anticipate that the firm will report sales of $542.03 million, with estimates ranging from $524.90 million to $563.20 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Pacific Premier Bancorp.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Tuesday, January 29th. The financial services provider reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.06. Pacific Premier Bancorp had a return on equity of 8.59% and a net margin of 25.76%. The business had revenue of $122.26 million for the quarter, compared to the consensus estimate of $121.76 million. During the same period in the previous year, the business earned $0.36 earnings per share. The business’s revenue was up 43.1% on a year-over-year basis.

A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Pacific Premier Bancorp from a “hold” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research note on Wednesday, October 17th. ValuEngine downgraded shares of Pacific Premier Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, October 22nd. BidaskClub downgraded shares of Pacific Premier Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 4th. Finally, FIG Partners reissued an “outperform” rating on shares of Pacific Premier Bancorp in a research report on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $46.00.

Shares of NASDAQ:PPBI traded up $0.12 during mid-day trading on Friday, reaching $29.97. The stock had a trading volume of 2,949 shares, compared to its average volume of 464,145. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $1.86 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.39 and a beta of 1.26. Pacific Premier Bancorp has a 1 year low of $23.01 and a 1 year high of $46.05.

The company also recently announced a special dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, February 14th.

In related news, CFO Ronald J. Jr. Nicolas purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The stock was acquired at an average cost of $28.73 per share, for a total transaction of $28,730.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have purchased 3,000 shares of company stock valued at $84,840. 4.12% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Piedmont Investment Advisors Inc. grew its holdings in Pacific Premier Bancorp by 3.4% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 10,714 shares of the financial services provider’s stock worth $273,000 after buying an additional 356 shares in the last quarter. New York State Teachers Retirement System increased its position in Pacific Premier Bancorp by 2.5% during the 4th quarter. New York State Teachers Retirement System now owns 18,733 shares of the financial services provider’s stock valued at $478,000 after buying an additional 462 shares in the last quarter. State of Alaska Department of Revenue increased its position in Pacific Premier Bancorp by 3.2% during the 4th quarter. State of Alaska Department of Revenue now owns 15,008 shares of the financial services provider’s stock valued at $383,000 after buying an additional 463 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Pacific Premier Bancorp by 13.8% in the 4th quarter. Bank of Montreal Can now owns 3,956 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 480 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Pacific Premier Bancorp by 22.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,568 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 649 shares in the last quarter. Institutional investors and hedge funds own 79.34% of the company’s stock.

About Pacific Premier Bancorp

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. Its deposit products include checking, money market, and savings accounts. The company's loan portfolio comprises commercial business loans, lines of credit, small business administration loans, commercial real estate loans, agribusiness loans, home equity lines of credit, construction loans, farmland, and consumer loans, as well as multi-family residential, one-to-four family real estate, commercial and industrial, and franchise lending; warehouse repurchase facilities; and credit facilities to Home Owners' Associations (HOA) and HOA management companies.

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