Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) – Investment analysts at FIG Partners increased their FY2018 earnings per share (EPS) estimates for Pacific Premier Bancorp in a research report issued to clients and investors on Wednesday. FIG Partners analyst T. Coffey now anticipates that the financial services provider will earn $2.67 per share for the year, up from their prior estimate of $2.37.
Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.03. The company had revenue of $72.51 million during 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 in the previous year, the business earned $0.33 EPS.
Shares of Pacific Premier Bancorp (PPBI) traded down $0.85 during midday trading on Monday, reaching $39.15. The company’s stock had a trading volume of 295,900 shares, compared to its average volume of 278,300. The stock has a market cap of $1,848.78, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 2.03 and a beta of 0.82. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.02 and a quick ratio of 1.01. Pacific Premier Bancorp has a 12 month low of $32.05 and a 12 month high of $42.55.
In other news, Chairman Steven R. Gardner sold 12,500 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $41.02, for a total value of $512,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ronald J. Jr. Nicolas purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was bought at an average price of $36.97 per share, for a total transaction of $92,425.00. The disclosure for this purchase can be found here. 4.59% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. California Public Employees Retirement System increased its position in Pacific Premier Bancorp by 11.4% in the 3rd quarter. California Public Employees Retirement System now owns 99,097 shares of the financial services provider’s stock valued at $3,741,000 after acquiring an additional 10,110 shares during the period. Granahan Investment Management Inc. MA increased its position in Pacific Premier Bancorp by 16.8% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 222,177 shares of the financial services provider’s stock valued at $8,387,000 after acquiring an additional 31,961 shares during the period. Janus Henderson Group PLC increased its position in Pacific Premier Bancorp by 15.7% in the 3rd quarter. Janus Henderson Group PLC now owns 988,126 shares of the financial services provider’s stock valued at $37,302,000 after acquiring an additional 134,317 shares during the period. Maltese Capital Management LLC acquired a new position in Pacific Premier Bancorp during the 3rd quarter worth approximately $2,204,000. Finally, Allianz Asset Management GmbH increased its position in Pacific Premier Bancorp by 18.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 356,174 shares of the financial services provider’s stock worth $13,446,000 after purchasing an additional 56,305 shares during the period. Hedge funds and other institutional investors own 71.35% of the company’s stock.
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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