Pacific Premier Bancorp Inc reports results for the quarter ended in March - Earnings Summary

Pacific Premier Bancorp

24/04/2024 14:31

* Pacific Premier Bancorp Inc  PPBI.OQ  reported quarterly
adjusted earnings of 49 cents​​ per share for the quarter ended
in March, lower than the same quarter last year, when the
company reported EPS of 66 cents.  The mean expectation of
seven analysts for the quarter was for earnings of 47 cents per
share. Wall Street expected results to range from 42 cents to 52
cents per share.
    * Revenue fell 13.9% to $145.13 million from a year ago;
analysts
expected $149.35 million. 
    * Pacific Premier Bancorp Inc's reported EPS for the quarter
was
49 cents​.
    * The company reported quarterly net income of $46.25
million.
    * Pacific Premier Bancorp Inc shares had fallen by 5.8% this
quarter and lost 22.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 7.5%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for Pacific Premier
Bancorp Inc is $29.00 
This summary was machine generated from LSEG data April 24 at
01:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.47           0.49           Beat
 Dec. 31 2023      0.48           0.51           Beat
 Sep. 30 2023      0.55           0.48           Missed
 Jun. 30 2023      0.58           0.60           Beat