Pacific Premier Bancorp (NASDAQ:PPBI) Releases Earnings Results, Beats Expectations By $0.03 EPS

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

Pacific Premier Bancorp Stock Performance

PPBI opened at $24.92 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average is $26.09 and its 200-day moving average is $25.68. Pacific Premier Bancorp has a twelve month low of $20.52 and a twelve month high of $30.28.

Analyst Upgrades and Downgrades

Separately, Wedbush lowered their target price on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.50.

Insider Buying and Selling

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