$83.30 Million in Sales Expected for Pacific Premier Bancorp Inc (PPBI) This Quarter

Wall Street brokerages expect Pacific Premier Bancorp Inc (NASDAQ:PPBI) to report $83.30 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Pacific Premier Bancorp’s earnings. The lowest sales estimate is $82.70 million and the highest is $83.70 million. Pacific Premier Bancorp reported sales of $46.62 million in the same quarter last year, which would suggest a positive year over year growth rate of 78.7%. The business is scheduled to report its next earnings results on Tuesday, January 23rd.

According to Zacks, analysts expect that Pacific Premier Bancorp will report full-year sales of $83.30 million for the current year, with estimates ranging from $271.50 million to $274.70 million. For the next year, analysts forecast that the firm will post sales of $377.57 million per share, with estimates ranging from $370.70 million to $384.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Pacific Premier Bancorp.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Tuesday, October 24th. The financial services provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The business had revenue of $72.51 million for the quarter, compared to the consensus estimate of $72.23 million. Pacific Premier Bancorp had a return on equity of 9.21% and a net margin of 21.82%. During the same period last year, the business earned $0.33 earnings per share.

PPBI has been the subject of a number of analyst reports. BidaskClub cut shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. ValuEngine cut shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Piper Jaffray Companies restated a “buy” rating and set a $49.00 price target on shares of Pacific Premier Bancorp in a research note on Friday, October 27th. Finally, Stephens cut shares of Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $45.00.

In other news, Chairman Steven R. Gardner sold 12,500 shares of Pacific Premier Bancorp stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $41.02, for a total value of $512,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Zareh Hovik Sarrafian bought 1,500 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was purchased at an average price of $32.65 per share, with a total value of $48,975.00. The disclosure for this purchase can be found here. Insiders sold 77,500 shares of company stock valued at $2,714,150 in the last quarter. 4.59% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of PPBI. First Mercantile Trust Co. bought a new position in shares of Pacific Premier Bancorp in the second quarter valued at approximately $113,000. Citigroup Inc. raised its position in Pacific Premier Bancorp by 664.8% in the 2nd quarter. Citigroup Inc. now owns 3,044 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 2,646 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in Pacific Premier Bancorp by 52.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,441 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 1,177 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Pacific Premier Bancorp by 4,866.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,023 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 3,942 shares during the last quarter. Finally, Quantbot Technologies LP raised its position in Pacific Premier Bancorp by 266.5% in the 3rd quarter. Quantbot Technologies LP now owns 4,182 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 3,041 shares during the last quarter. Institutional investors own 71.87% of the company’s stock.

Pacific Premier Bancorp (NASDAQ:PPBI) opened at $38.85 on Tuesday. The company has a market cap of $1,790.00, a PE ratio of 20.08, a price-to-earnings-growth ratio of 2.86 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.02. Pacific Premier Bancorp has a one year low of $31.20 and a one year high of $42.55.

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About Pacific Premier Bancorp

Pacific Premier Bancorp, Inc is a bank holding company. The Company’s subsidiary, Pacific Premier Bank (the Bank), is a California state-chartered commercial bank. The Company’s principal business is attracting deposits from small and middle market businesses and consumers and investing those deposits together with funds generated from operations and borrowings, primarily in commercial business loans and various types of commercial real estate (CRE) loans.

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Earnings History and Estimates for Pacific Premier Bancorp (NASDAQ:PPBI)

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