PacWest Bancorp (PACW) Earning Somewhat Favorable News Coverage, Study Finds
Media headlines about PacWest Bancorp (NASDAQ:PACW) have been trending somewhat positive on Saturday, Accern Sentiment reports. Accern scores the sentiment of press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. PacWest Bancorp earned a news sentiment score of 0.19 on Accern’s scale. Accern also assigned news headlines about the financial services provider an impact score of 47.8471721828773 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
PacWest Bancorp (NASDAQ:PACW) opened at $51.60 on Friday. The company has a market cap of $6,650.00, a PE ratio of 17.73, a price-to-earnings-growth ratio of 1.49 and a beta of 1.51. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.19. PacWest Bancorp has a fifty-two week low of $43.08 and a fifty-two week high of $57.53.
PacWest Bancorp (NASDAQ:PACW) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.66 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.08). The firm had revenue of $289.75 million during the quarter, compared to the consensus estimate of $297.74 million. PacWest Bancorp had a return on equity of 7.65% and a net margin of 30.12%. During the same quarter in the prior year, the firm posted $0.71 earnings per share. equities analysts predict that PacWest Bancorp will post 3.46 EPS for the current fiscal year.
PacWest Bancorp declared that its Board of Directors has approved a share buyback program on Thursday, November 16th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
A number of research firms recently weighed in on PACW. Raymond James Financial lowered shares of PacWest Bancorp from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, October 17th. Zacks Investment Research lowered shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. DA Davidson reaffirmed a “buy” rating and issued a $59.00 price objective on shares of PacWest Bancorp in a research note on Friday, January 19th. BidaskClub lowered shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $54.00 price objective on shares of PacWest Bancorp in a research note on Tuesday, January 9th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $55.18.
In other PacWest Bancorp news, Director Daniel B. Platt sold 7,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $53.61, for a total value of $375,270.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.98% of the company’s stock.
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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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