Pacific Premier Bancorp (NASDAQ:PPBI – Get Rating) reported quarterly results on Thursday. The financial services provider missed analyst consensus estimates of $0.78 ($0.01), reporting his EPS of $0.77 for the quarter, he reports Briefing.com. The business’ earnings for the quarter were $238.28 million, compared with analysts’ estimates of $202.25 million. Pacific Premier Bancorp had a net profit margin of 35.82% and a return on equity of 10.57%. During the same quarter last year, the company posted his $0.89 earnings per share.
Pacific Premier Bancorp stock fell 0.7%
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NASDAQ:PPBI shares opened Friday at $30.10. The company has a 50-day moving average price of $32.86 and a 200-day moving average price of $33.26. The company has a debt to equity ratio of 0.34, a current ratio of 0.86 and a quick ratio of 0.86. Pacific Premier Bancorp has a year low of $27.92 and a year high of $40.14. The company has a market cap of $2.86 billion, a price/earnings ratio of 9.81, and a beta of 1.24.
Pacific Premier Bancorp Announces Dividend
The company recently announced a quarterly dividend payable on Friday, February 10th. Dividends of $0.33 will be issued to shareholders of record on Friday, February 3rd. This represents his $1.32 dividend and his 4.39% yield on an annualized basis. The ex-dividend date for this dividend is Thursday, February 2. Pacific Premier Bancorp has a payout percentage of 42.72%.
Insider trading at Pacific Premier Bancorp
In other news from Pacific Premier Bancorp, CEO Stephen R. Gardner sold 102,638 shares in the company in a transaction on Monday, December 19th. The shares sold for an average of $31.56, giving him a total of $3,239,255.28. Following the closing of the transaction, the CEO now directly owns 368,482 shares of the Company’s stock valued at approximately $11,629,291.92. The sale is disclosed in legal documents to the SEC, which can be accessed on his website. The insider owns his 2.16% stake in the company.
Pacific Premier Bancorp Institutional Deal
Several institutional investors and hedge funds have recently changed their positions on PPBI. JPMorgan Chase & Co. increased its position in Pacific Premier Bancorp stock by 19.0% in the first quarter. JPMorgan Chase & Co. now owns 274,989 shares of the financial services provider worth $9,721,000 after purchasing an additional 43,956 of his shares last quarter. Raymond James & Associates increased his position in Pacific Premier Bancorp stocks by 1.2% in the first quarter. Raymond James & Associates now owns 46,891 shares in the financial services provider worth $1,658,000 after purchasing an additional 534 shares of him last quarter. Citigroup Inc. increased its stock position in Pacific Premier Bancorp by 9.9% in the first quarter. Citigroup Inc. now owns 83,219 shares of the financial services provider worth $2,941,000 after purchasing an additional 7,486 shares of him last quarter. PNC Financial Services Group Inc. increased its stock position in Pacific Premier Bancorp by 6.2% in the first quarter. PNC Financial Services Group Inc. now owns 32,267 shares of the financial services provider worth $1,140,000 after purchasing an additional 1,881 shares last quarter. Finally, Banc of Montreal Kan increased its position in Pacific Premier Bancorp shares by 46.1% in the first quarter. Bank of Montreal Can now owns 49,928 shares of the financial services provider worth $1,802,000 after purchasing an additional 15,753 shares in the previous quarter. Hedge funds and other institutional investors own 94.22% of the company’s shares.
Wall Street analyst opinion
Recently, a number of brokerage firms have commented on the PPBI. StockNews.com downgraded Pacific Premier Bancorp’s stock from a ‘hold’ rating to a ‘sell’ rating in a research note on Tuesday. Raymond James lowered his price target on Pacific Premier Bancorp shares from his $37.00 to his $34.00, setting a ‘strong buy’ rating in a research note on Friday.
Corporate Profile of Pacific Premier Bancorp
Pacific Premier Bancorp Inc. is a bank holding company and provides banking services through its subsidiary, Pacific Premier Bank. It offers deposit products and services for business and consumer customers, including checking, money market and savings accounts, cash management services, e-banking and online bill payment.
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