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

Pacific Premier Bancorp (NASDAQ:PPBI) announced its quarterly earnings data on Thursday. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03, Zacks reports.

Pacific Premier Bancorp Stock Performance

Shares of PPBI stock opened at $25.00 on Thursday. The stock’s fifty day simple moving average is $26.15 and its 200-day simple moving average is $25.68. 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 price-to-earnings ratio of -166.62 and a beta of 1.26. Pacific Premier Bancorp has a 1-year low of $20.52 and a 1-year high of $30.28.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, EVP Michael S. Karr sold 10,290 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total transaction of $276,492.30. Following the transaction, the executive vice president now directly owns 79,474 shares in the company, valued at $2,135,466.38. This trade represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the 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 transaction, the executive vice president now owns 25,475 shares in the company, valued at approximately $712,281. This trade represents a 26.69 % decrease in their position. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Wedbush lowered their price objective on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.