Pacific Premier Bancorp: 2Q Earnings Snapshot
IRVINE, Calif. (AP) _ Pacific Premier Bancorp Inc. (PPBI) on Tuesday reported second-quarter profit of $38.5 million.
On a per-share basis, the Irvine, California-based company said it had net income of 62 cents.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The holding company for Pacific Premier Bank posted revenue of $138.7 million in the period. Its adjusted revenue was $117 million, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $120.9 million.
Pacific Premier Bancorp shares have increased 18% since the beginning of the year. The stock has declined 20% in the last 12 months.