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

Pacific Premier Bancorp (NASDAQ:PPBI) issued its earnings results on Thursday. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03, Zacks reports.

Pacific Premier Bancorp Trading Up 2.4 %

NASDAQ PPBI opened at $25.00 on Thursday. Pacific Premier Bancorp has a 12 month low of $20.52 and a 12 month high of $30.28. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $2.41 billion, a PE ratio of -166.62 and a beta of 1.26. The stock has a 50-day simple moving average of $26.15 and a 200 day simple moving average of $25.68.

Insiders Place Their Bets

In related news, EVP Michael S. Karr sold 10,290 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 79,474 shares of the company’s stock, valued at approximately $2,135,466.38. This trade represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $27.96, for a total value of $259,273.08. Following the completion of the transaction, the executive vice president now owns 25,475 shares of the company’s stock, valued at approximately $712,281. This represents a 26.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.21% of the company’s stock.

Analysts Set New Price Targets

Separately, Wedbush dropped their price objective on shares of 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $26.50.

Pacific Premier Bancorp Company Profile

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.