Q2 2019 EPS Estimates for PacWest Bancorp (PACW) Increased by Analyst
PacWest Bancorp (NASDAQ:PACW) – Research analysts at FIG Partners boosted their Q2 2019 EPS estimates for PacWest Bancorp in a report released on Tuesday, April 16th. FIG Partners analyst C. Marinac now expects that the financial services provider will earn $0.94 per share for the quarter, up from their prior forecast of $0.93. FIG Partners also issued estimates for PacWest Bancorp’s Q3 2019 earnings at $0.96 EPS, Q4 2019 earnings at $0.97 EPS and FY2019 earnings at $3.79 EPS.
PacWest Bancorp (NASDAQ:PACW) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.01. The company had revenue of $285.94 million for the quarter, compared to the consensus estimate of $291.86 million. PacWest Bancorp had a net margin of 35.33% and a return on equity of 9.64%. During the same quarter in the prior year, the firm earned $0.93 earnings per share.
PacWest Bancorp stock opened at $39.87 on Thursday. The firm has a market cap of $4.71 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 1.04 and a beta of 1.53. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.38. PacWest Bancorp has a 52-week low of $31.16 and a 52-week high of $55.86.
Institutional investors and hedge funds have recently made changes to their positions in the company. Enlightenment Research LLC purchased a new stake in shares of PacWest Bancorp in the fourth quarter valued at $27,000. First Hawaiian Bank raised its stake in shares of PacWest Bancorp by 128.5% in the first quarter. First Hawaiian Bank now owns 786 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 442 shares during the period. JOYN Advisors Inc. raised its stake in shares of PacWest Bancorp by 439.6% in the fourth quarter. JOYN Advisors Inc. now owns 1,511 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 1,231 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of PacWest Bancorp by 3,228.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,692,721 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 1,641,858 shares during the period. Finally, Lindbrook Capital LLC purchased a new stake in shares of PacWest Bancorp in the fourth quarter valued at $52,000. 93.12% of the stock is currently owned by institutional investors and hedge funds.
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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