Brokerages predict that PacWest Bancorp (NASDAQ:PACW) will announce earnings per share (EPS) of $1.04 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for PacWest Bancorp’s earnings. The lowest EPS estimate is $0.97 and the highest is $1.15. PacWest Bancorp posted earnings of $0.38 per share in the same quarter last year, which would indicate a positive year over year growth rate of 173.7%. The business is scheduled to report its next earnings report on Wednesday, October 13th.
On average, analysts expect that PacWest Bancorp will report full-year earnings of $4.82 per share for the current financial year, with EPS estimates ranging from $4.73 to $5.06. For the next year, analysts expect that the firm will report earnings of $4.23 per share, with EPS estimates ranging from $4.03 to $4.43. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for PacWest Bancorp.
PacWest Bancorp (NASDAQ:PACW) last announced its earnings results on Sunday, July 18th. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $0.98 by $0.54. PacWest Bancorp had a net margin of 39.30% and a return on equity of 13.62%. The company had revenue of $306.68 million during the quarter, compared to analysts’ expectations of $304.07 million. During the same period last year, the company posted $0.28 earnings per share.
Shares of PACW traded down $0.88 during midday trading on Monday, hitting $41.15. The stock had a trading volume of 655,544 shares, compared to its average volume of 910,231. PacWest Bancorp has a fifty-two week low of $15.62 and a fifty-two week high of $46.75. The business has a 50-day simple moving average of $41.14 and a two-hundred day simple moving average of $41.57. The firm has a market cap of $4.82 billion, a P/E ratio of 9.73 and a beta of 1.60. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.23.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 31st. Investors of record on Tuesday, August 17th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Monday, August 16th. PacWest Bancorp’s dividend payout ratio is currently 47.62%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in PacWest Bancorp by 4.7% in the second quarter. Vanguard Group Inc. now owns 12,668,794 shares of the financial services provider’s stock valued at $521,448,000 after acquiring an additional 563,363 shares during the last quarter. FMR LLC lifted its stake in PacWest Bancorp by 4.9% in the second quarter. FMR LLC now owns 6,670,178 shares of the financial services provider’s stock valued at $274,545,000 after acquiring an additional 312,549 shares during the last quarter. State Street Corp lifted its stake in PacWest Bancorp by 0.4% in the second quarter. State Street Corp now owns 5,958,208 shares of the financial services provider’s stock valued at $245,240,000 after acquiring an additional 25,197 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in PacWest Bancorp by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,498,595 shares of the financial services provider’s stock valued at $133,374,000 after acquiring an additional 53,093 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in PacWest Bancorp by 1.2% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,179,910 shares of the financial services provider’s stock valued at $89,725,000 after acquiring an additional 26,733 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.
About PacWest Bancorp
PacWest Bancorp is a bank holding company, which specializes in financial and banking solutions. Through the Pacific Western Bank, it offers commercial banking services including real estate, construction, commercial loans, comprehensive deposit, and treasury management services to small and middle-market businesses.
Read More: Inflation
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PacWest Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PacWest Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.