PacWest Bancorp (NASDAQ:PACW) – Wedbush lowered their FY2019 EPS estimates for shares of PacWest Bancorp in a note issued to investors on Wednesday, October 16th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings of $3.78 per share for the year, down from their prior forecast of $3.86. Wedbush also issued estimates for PacWest Bancorp’s Q4 2019 earnings at $0.87 EPS, Q1 2020 earnings at $0.83 EPS, Q2 2020 earnings at $0.82 EPS, Q3 2020 earnings at $0.83 EPS, Q4 2020 earnings at $0.84 EPS, FY2020 earnings at $3.31 EPS and FY2021 earnings at $3.56 EPS.

PacWest Bancorp (NASDAQ:PACW) last released its earnings results on Wednesday, October 16th. The financial services provider reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.01). The firm had revenue of $285.67 million during the quarter, compared to analyst estimates of $290.49 million. PacWest Bancorp had a return on equity of 9.61% and a net margin of 33.80%. During the same quarter last year, the company earned $0.94 earnings per share.

Other equities research analysts also recently issued reports about the company. BidaskClub downgraded PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Royal Bank of Canada assumed coverage on PacWest Bancorp in a research report on Friday, August 23rd. They issued an “outperform” rating and a $40.00 target price for the company. SunTrust Banks cut their target price on PacWest Bancorp from $40.00 to $39.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Stephens restated a “buy” rating and issued a $43.00 target price on shares of PacWest Bancorp in a research report on Tuesday, July 16th. Finally, Zacks Investment Research downgraded PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 15th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $41.67.

PACW opened at $37.02 on Monday. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 9.95, a price-to-earnings-growth ratio of 0.95 and a beta of 1.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.96 and a quick ratio of 0.99. PacWest Bancorp has a 1-year low of $31.16 and a 1-year high of $42.41. The business has a 50 day moving average price of $36.09 and a two-hundred day moving average price of $37.24.

In other news, EVP Mark A. Christian sold 9,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $37.89, for a total transaction of $359,955.00. Following the completion of the sale, the executive vice president now owns 24,781 shares in the company, valued at approximately $938,952.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.18% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its position in shares of PacWest Bancorp by 4.6% during the 2nd quarter. Wells Fargo & Company MN now owns 4,753,685 shares of the financial services provider’s stock valued at $184,585,000 after acquiring an additional 208,600 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its position in shares of PacWest Bancorp by 2.7% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 2,796,095 shares of the financial services provider’s stock valued at $108,572,000 after acquiring an additional 73,529 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of PacWest Bancorp by 2.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,362,218 shares of the financial services provider’s stock valued at $52,895,000 after acquiring an additional 36,274 shares during the last quarter. Prudential Financial Inc. raised its stake in PacWest Bancorp by 22.1% during the 2nd quarter. Prudential Financial Inc. now owns 1,070,649 shares of the financial services provider’s stock valued at $41,574,000 after purchasing an additional 193,905 shares during the period. Finally, Neumeier Poma Investment Counsel LLC raised its stake in PacWest Bancorp by 7.5% during the 2nd quarter. Neumeier Poma Investment Counsel LLC now owns 1,010,920 shares of the financial services provider’s stock valued at $39,254,000 after purchasing an additional 70,330 shares during the period. Institutional investors own 88.55% of the company’s stock.

PacWest Bancorp Company Profile

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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Earnings History and Estimates for PacWest Bancorp (NASDAQ:PACW)

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