Pacific Premier Bancorp: 2Q Earnings Snapshot
IRVINE, Calif. (AP) _ Pacific Premier Bancorp Inc. (PPBI) on Tuesday reported second-quarter net income of $27.3 million.
The Irvine, California-based company said it had net income of 58 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 60 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The holding company for Pacific Premier Bank posted revenue of $100.9 million in the period. Its adjusted revenue was $89.3 million, also missing Street forecasts. Four analysts surveyed by Zacks expected $92.3 million.
Pacific Premier Bancorp shares have dropped 5.5 percent since the beginning of the year. The stock has increased nearly 3 percent in the last 12 months.