Shares of Pacific Premier Bancorp (NASDAQ: PPBI) plummeted by nearly 6% on Wednesday, following the company's third-quarter earnings report, which fell short of analysts' expectations.
The regional bank holding company reported earnings per share of $0.37 for the quarter ended September 30, 2024, missing the consensus estimate of $0.38 by a narrow margin. Despite the earnings miss, Pacific Premier's revenue for the quarter came in at $149.76 million, surpassing the consensus estimate of $139.24 million.
Other key financial metrics for the quarter included net interest income of $130.9 million, net income of $36.0 million, a tangible book value per share of $20.81, and a CET1 capital ratio of 16.83%. The company also declared a quarterly dividend of $0.33 per share.
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