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

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

Pacific Premier Bancorp Trading Down 0.9 %

Pacific Premier Bancorp stock opened at $24.42 on Thursday. Pacific Premier Bancorp has a fifty-two week low of $20.52 and a fifty-two week high of $30.28. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s fifty day moving average price is $26.15 and its 200-day moving average price is $25.68.

Insider Buying and Selling

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of the company’s stock in a transaction 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael S. Karr sold 10,290 shares of Pacific Premier Bancorp stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total transaction of $276,492.30. Following the completion of the transaction, the executive vice president now owns 79,474 shares in the company, valued at approximately $2,135,466.38. The trade was a 11.46 % decrease in their position. The disclosure for this sale can be found here. 2.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Wedbush reduced their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Pacific Premier Bancorp currently has a consensus rating of “Hold” and a consensus target price of $26.50.

About Pacific Premier Bancorp

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.