NASDAQ$PPBI

Pacific Premier Bancorp Inc · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

Announced second quarter 2022 financial results with net income of $69.8 million and EPS of $0.73.

Pacific Premier Bancorp reported a net income of $69.8 million, or $0.73 per diluted share, for the second quarter of 2022. The company's return on average assets was 1.29%, return on average equity was 10.10%, and return on average tangible common equity was 16.07%. Total assets increased to $21.99 billion.

  • Net income of $69.8 million, or $0.73 per diluted share
  • Return on average assets of 1.29%, return on average equity of 10.10%, and return on average tangible common equity of 16.07%
  • Pre-provision net revenue (“PPNR”) to average assets of 1.77%, annualized, and efficiency ratio of 49.0%
  • Diversified loan growth of $356.3 million, or 9.7% annualized

Headline financials

Total Revenue

$195M

Previous: $188M+3.9%
EPS (adj)

$0.73

Previous: $1.01-27.7%
Cost of deposits

0.1%

Previous: 0.1%-25.0%
Net interest margin

3.5%

Previous: 3.4%+1.5%
Return on average assets

1.3%

Previous: 1.9%-32.1%
Return on average equity

10.1%

Previous: 14.0%-28.0%
Return on average tangible common equity

16.1%

Previous: 22.4%-28.4%
Efficiency ratio

49.0%

Previous: 49.4%-0.8%
Loan-to-deposit ratio

83.2%

No prior period
Capital Expenditures

$1.74M

Previous: $1.64M+6.1%
Free Cash Flow

$76.3M

Previous: $63.5M+20.1%
Net Income

$69.8M

Previous: $96.3M-27.5%
Operating Income

$95.5M

Previous: $132M-27.4%
Cash & Equivalents

$973M

Previous: $632M+54.0%
Total Assets

$22B

Previous: $20.5B+7.1%
Stock-Based Comp

$4.31M

Previous: $3.46M+24.5%

Revenue & EPS history

Pacific Premier · Revenue · Quarterly

$195M

Q2 2022+3.9%vs Q2 2021
Beat estimate in 8 of 15 quarters(53%)
ActualEstimate

Revenue by segment

Pacific Premier · $23.7M total across 9 segments · Q4 2021

  • Trust custodial account fees
    $11.6M
  • Earnings on bank owned life insurance
    $3.52M
  • Service charges on deposit accounts
    $2.59M
  • Escrow and exchange fees
    $2.22M
  • Net gain from sales of loans
    $1.33M
  • Debit card interchange fee income
    $769K
  • Other income
    $754K
  • Loan servicing income
    $505K
  • Other service fee income
    $391K

Forward guidance

The Company is well-positioned to effectively navigate through any economic environment and take advantage of opportunities to drive franchise value higher in future periods.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 11 quarterly earnings reports

Historical avg

-0.0%

Avg return

Earnings day

-1.1%

Avg return

5 days after

+0.8%

Avg return

30 days after

54%

34 / 63 earnings

Positive

+11.4%

Q4 2016

Best reaction

-15.6%

Q3 2018

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2025
Q2 2025+6.6%+2.6%+14.7%
Q1 2025+5.6%+2.9%+5.1%
Q4 2025+2.0%+5.5%-1.3%
Q3 2024-3.0%+0.7%+11.1%
Q2 2024-5.4%-7.0%-7.4%
Q1 2024-1.9%-2.6%-2.4%
Q4 2023-3.4%-9.9%-19.1%
Q3 2023-9.4%-5.8%+13.0%
Q2 2023+0.4%+0.5%-10.6%
Q1 2023+5.9%-7.6%-6.2%
Q4 2022+2.4%+6.8%+8.8%
Q3 2022-1.8%+1.2%+4.0%
Q2 2022+1.1%
Q1 2022-7.8%
Q4 2021-6.7%
Q3 2021+2.8%
Q2 2021+2.0%
Q1 2021+2.5%
Q4 2020-2.2%
Q3 2020-5.0%
Q2 2020-1.7%
Q1 2020+8.3%
Q4 2019+0.9%
Q3 2019+4.9%
Q2 2019+4.0%
Q1 2019+0.9%
Q4 2018+1.2%
Q3 2018-15.6%
Q2 2018-2.5%
Q1 2018-2.8%
Q4 2017-1.5%
Q3 2017+2.2%
Q2 2017-1.6%
Q1 2017+0.8%
Q4 2016+11.4%
Q3 2016-3.6%
Q2 2016-6.5%
Q1 2016+7.3%
Q4 2015-1.7%
Q3 2015+0.4%
Q2 2015+6.0%
Q1 2015-1.3%
Q4 2014+1.7%
Q3 2014+2.6%
Q2 2014+2.0%
Q1 2014-11.6%
Q4 2013-0.1%
Q3 2013+1.1%
Q2 2013-4.5%
Q1 2013-4.3%
Q4 2012+6.2%
Q3 2012+5.6%
Q2 2012-1.0%
Q1 2011-0.7%
Q1 2012-2.1%
Q4 2009-3.0%
Q4 2011-3.0%
Q3 2010+5.2%
Q3 2011+5.2%
Q2 2011+1.4%
Q2 2010+1.4%
Q4 2010+1.4%
Q1 2010+0.8%

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