Pacific Premier Bancorp: Surges to 3-mnth high on profit, loan growth

Pacific Premier Bancorp

29/01/2019 17:06

** Shares of California-based regional bank  PPBI.O  up 8
pct at $32.09 on Q4 profit; stock highest in over three months
    ** Q4 net income rose more than two folds to $39.6 mln; EPS
up at 63 cents/shr vs 36 cents/shr  urn:newsml:reuters.com:*:nASB0151A
    ** Excluding items, PPBI earned 66 cents/shr, beating
analysts' estimates of 60 cents/shr, according to Refinitiv
Eikon data
    ** Total loans up 43 pct, with growth across all lending
segments: business, real-estate and consumer loans
    ** Q4 interest expense more than halved to $7.5 mln
    ** Loan growth in Q4 has generally been slow for most
regional banks, as they grapple with higher interest rates that
while help bring in more money in interest income, also reduce
borrowers' ability to take out loans
    ** As of Monday's close, PPBI's shares had fallen 28.4 pct
in the last 12 months; financial stocks declined in Dec. during
the broader market sell-off, which added to the fall in share
price
    

 (Reporting By Aparajita Saxena in Bengaluru)
 ((Aparajita.Saxena@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806 749 8901; Reuters Messaging:
aparajita.saxena.thomsonreuters.com@reuters.net))