PacWest Bancorp (PACW) to Release Quarterly Earnings on Wednesday
PacWest Bancorp (NASDAQ:PACW) will issue its quarterly earnings data before the market opens on Wednesday, January 17th. Analysts expect the company to announce earnings of $0.74 per share for the quarter.
PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.09. The business had revenue of $273.07 million for the quarter, compared to analysts’ expectations of $281.14 million. PacWest Bancorp had a return on equity of 7.87% and a net margin of 30.80%. During the same period in the prior year, the firm earned $0.77 EPS. On average, analysts expect PacWest Bancorp to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Shares of PacWest Bancorp (NASDAQ PACW) opened at $53.01 on Monday. The stock has a market capitalization of $6,834.90, a P/E ratio of 17.85, a PEG ratio of 1.59 and a beta of 1.59. PacWest Bancorp has a twelve month low of $43.08 and a twelve month high of $57.53. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15.
PACW has been the topic of several recent research reports. SunTrust Banks restated a “hold” rating and set a $49.00 price target on shares of PacWest Bancorp in a report on Thursday, October 12th. Zacks Investment Research lowered PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Friday, October 13th. UBS Group lowered PacWest Bancorp from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, October 17th. Raymond James Financial lowered PacWest Bancorp from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, October 17th. Finally, FBR & Co lowered PacWest Bancorp from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a report on Wednesday, October 18th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $53.64.
In other PacWest Bancorp news, CFO Patrick J. Rusnak acquired 2,000 shares of the business’s stock in a transaction on Thursday, October 19th. The shares were bought at an average price of $46.92 per share, with a total value of $93,840.00. Following the transaction, the chief financial officer now directly owns 77,852 shares of the company’s stock, valued at approximately $3,652,815.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.98% of the company’s stock.
PacWest Bancorp Company Profile
PacWest Bancorp is a bank holding company for Pacific Western Bank (the Bank). The Company is focused on relationship-based business banking to small, middle-market and venture-backed businesses. As of October 23, 2017, the Bank offered a range of loan and deposit products and services through 83 branches located throughout the state of California, one branch located in Durham, North Carolina, and several loan production offices located in cities across the country.
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