Pacific Premier Bancorp Inc (PPBI)

Shares of Pacific Premier Bancorp (PPBI) dropped by 7.97% from $20.46 to $18.83 in the trading on Tuesday, October 24, 2023. The reason why PPBI stock down is due to the company's lower-than-expected Q3 results

• Earnings: Pacific Premier Bancorp reported quarterly earnings of $0.48 per share, falling short of the Zacks Consensus Estimate of $0.56 per share, and down from $0.77 per share in the previous year, after adjusting for non-recurring items. This results in an earnings surprise of -14.29%.
• Revenue: In terms of revenue, the company posted $168.1 million for the quarter ending in September 2023, missing the Zacks Consensus Estimate by 3.97% and declining from $201.28 million in the same period last year.