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Pacific Premier Bancorp (PPBI) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2 min read

For the quarter ended March 2023, Pacific Premier Bancorp (PPBI) reported revenue of $189.8 million, up 1.1% over the same period last year. EPS came in at $0.66, compared to $0.70 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $196.23 million, representing a surprise of -3.28%. The company delivered an EPS surprise of -7.04%, with the consensus EPS estimate being $0.71.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Pacific Premier Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net interest margin: 3.44% versus 3.54% estimated by four analysts on average.

  • Efficiency Ratio [%]: 51.7% versus the four-analyst average estimate of 51.6%.

  • Net Charge-off (% of Average Loans): 0.02% compared to the 0.07% average estimate based on three analysts.

  • Average Interest-Earning Assets: $19.90 billion compared to the $20.02 billion average estimate based on three analysts.

  • Total Noninterest Income: $21.19 million versus the four-analyst average estimate of $21.35 million.

  • Net interest income before provision for loan losses: $168.61 million versus $175.03 million estimated by four analysts on average.

View all Key Company Metrics for Pacific Premier Bancorp here>>>

Shares of Pacific Premier Bancorp have returned -14.3% over the past month versus the Zacks S&P 500 composite's +2.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research