Q1 2024 EPS Estimates for Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Lowered by Wedbush

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Stock analysts at Wedbush cut their Q1 2024 earnings per share estimates for Pacific Premier Bancorp in a research report issued to clients and investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will earn $0.45 per share for the quarter, down from their previous estimate of $0.48. Wedbush has a “Neutral” rating and a $30.00 price target on the stock. The consensus estimate for Pacific Premier Bancorp’s current full-year earnings is $1.98 per share. Wedbush also issued estimates for Pacific Premier Bancorp’s Q2 2024 earnings at $0.47 EPS, Q3 2024 earnings at $0.50 EPS, Q4 2024 earnings at $0.52 EPS, FY2024 earnings at $1.95 EPS, Q1 2025 earnings at $0.53 EPS, Q2 2025 earnings at $0.55 EPS, Q3 2025 earnings at $0.55 EPS and Q4 2025 earnings at $0.57 EPS.

A number of other equities analysts have also weighed in on the company. TheStreet lowered Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods upped their target price on Pacific Premier Bancorp from $24.00 to $25.00 and gave the stock a “market perform” rating in a research note on Monday, December 4th. Stephens reiterated an “equal weight” rating and set a $28.00 price objective on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a research report on Wednesday, March 20th. Finally, Raymond James reiterated an “outperform” rating and set a $29.00 price objective (up from $26.00) on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $28.60.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ PPBI opened at $24.00 on Thursday. The firm has a market capitalization of $2.30 billion, a P/E ratio of 80.00 and a beta of 1.20. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. The stock’s 50-day simple moving average is $24.37 and its two-hundred day simple moving average is $24.00. Pacific Premier Bancorp has a twelve month low of $17.53 and a twelve month high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of ($17.00) million for the quarter, compared to analysts’ expectations of $169.50 million. Pacific Premier Bancorp had a return on equity of 7.50% and a net margin of 24.75%. During the same quarter in the prior year, the firm posted $0.77 EPS.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, February 9th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.32 annualized dividend and a yield of 5.50%. Pacific Premier Bancorp’s payout ratio is 440.00%.

Insider Buying and Selling

In related news, Director Barbara Polsky purchased 1,200 shares of Pacific Premier Bancorp stock in a transaction that occurred on Thursday, March 21st. The shares were acquired at an average cost of $23.92 per share, for a total transaction of $28,704.00. Following the transaction, the director now directly owns 14,507 shares in the company, valued at $347,007.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pacific Premier Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of PPBI. Quarry LP purchased a new stake in Pacific Premier Bancorp in the 1st quarter worth approximately $28,000. Lazard Asset Management LLC purchased a new stake in Pacific Premier Bancorp in the 1st quarter worth approximately $32,000. Belpointe Asset Management LLC lifted its holdings in Pacific Premier Bancorp by 279.2% in the 1st quarter. Belpointe Asset Management LLC now owns 1,365 shares of the financial services provider’s stock worth $33,000 after buying an additional 1,005 shares during the period. GAMMA Investing LLC purchased a new stake in Pacific Premier Bancorp in the 4th quarter worth approximately $42,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Pacific Premier Bancorp by 69.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,094 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 1,270 shares during the period. Hedge funds and other institutional investors own 93.11% 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.