PacWest Bancorp (NASDAQ:PACW) – Analysts at FIG Partners decreased their Q4 2018 earnings estimates for shares of PacWest Bancorp in a research note issued on Thursday, January 10th. FIG Partners analyst C. Marinac now forecasts that the financial services provider will post earnings per share of $0.94 for the quarter, down from their prior forecast of $0.95. FIG Partners also issued estimates for PacWest Bancorp’s Q2 2019 earnings at $0.93 EPS, Q3 2019 earnings at $0.96 EPS, Q4 2019 earnings at $0.96 EPS, Q1 2020 earnings at $0.94 EPS, Q2 2020 earnings at $0.96 EPS, Q3 2020 earnings at $0.99 EPS, Q4 2020 earnings at $1.01 EPS and FY2020 earnings at $3.90 EPS.
PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.02. The business had revenue of $297.23 million for the quarter, compared to analysts’ expectations of $301.52 million. PacWest Bancorp had a return on equity of 8.95% and a net margin of 33.60%. During the same quarter last year, the business earned $0.84 earnings per share.
PACW has been the topic of a number of other research reports. Zacks Investment Research cut PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. TheStreet cut PacWest Bancorp from a “b-” rating to a “c+” rating in a report on Monday, November 19th. SunTrust Banks reduced their target price on PacWest Bancorp to $48.00 and set a “hold” rating on the stock in a report on Thursday, October 18th. ValuEngine cut PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. Finally, Stephens restated a “buy” rating and set a $58.00 target price on shares of PacWest Bancorp in a report on Tuesday, October 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $54.38.
Shares of PACW opened at $36.29 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. PacWest Bancorp has a 1 year low of $31.16 and a 1 year high of $55.86. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 0.95 and a beta of 1.48.
In other PacWest Bancorp news, CEO Matthew P. Wagner purchased 20,925 shares of the company’s stock in a transaction dated Monday, October 29th. The shares were bought at an average price of $39.01 per share, with a total value of $816,284.25. Following the completion of the transaction, the chief executive officer now directly owns 530,552 shares in the company, valued at approximately $20,696,833.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Pieczynski purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, November 28th. The shares were acquired at an average cost of $39.72 per share, for a total transaction of $397,200.00. Following the transaction, the insider now owns 47,497 shares of the company’s stock, valued at $1,886,580.84. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 40,925 shares of company stock worth $1,625,784. 1.01% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd acquired a new stake in PacWest Bancorp in the 2nd quarter valued at approximately $158,000. Creative Planning acquired a new stake in PacWest Bancorp in the 3rd quarter valued at approximately $200,000. GAM Holding AG acquired a new stake in PacWest Bancorp in the 3rd quarter valued at approximately $208,000. Laurion Capital Management LP acquired a new stake in PacWest Bancorp in the 3rd quarter valued at approximately $226,000. Finally, Summit X LLC acquired a new stake in PacWest Bancorp in the 2nd quarter valued at approximately $238,000. 88.46% of the stock is currently owned by institutional investors.
About PacWest Bancorp
PacWest Bancorp operates as the holding company for Pacific Western Bank, a state chartered bank that provides commercial banking products and services. The company accepts demand, money market, and time deposits. It also provides real estate loans to professional developers and real estate investors for the acquisition, refinancing, and construction of commercial real estate properties; small business administration loans; asset-based loans for working capital needs; venture capital loans to support the start-up operations of entrepreneurial companies; and equipment-secured loans and leases.
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