PacWest Bancorp (NASDAQ:PACW) Posts Earnings Results, Beats Estimates By $0.10 EPS
PacWest Bancorp (NASDAQ:PACW) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.10, Fidelity Earnings reports. PacWest Bancorp had a return on equity of 9.60% and a net margin of 34.40%. The company had revenue of $273.80 million for the quarter, compared to analysts’ expectations of $281.65 million.
Shares of NASDAQ PACW opened at $36.66 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.99 and a quick ratio of 0.96. The company has a market cap of $4.34 billion, a P/E ratio of 9.42, a PEG ratio of 1.08 and a beta of 1.47. PacWest Bancorp has a 1 year low of $32.64 and a 1 year high of $41.60. The firm has a 50-day simple moving average of $37.87 and a two-hundred day simple moving average of $36.90.
In other PacWest Bancorp news, COO Mark Yung bought 2,670 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average price of $37.37 per share, for a total transaction of $99,777.90. Following the completion of the transaction, the chief operating officer now directly owns 55,558 shares of the company’s stock, valued at $2,076,202.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.18% of the stock is owned by insiders.
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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