PacWest Bancorp (PACW) to Release Quarterly Earnings on Wednesday
PacWest Bancorp (NASDAQ:PACW) is scheduled to post its Q313 quarterly earnings results on Wednesday, October 16th. Analysts expect PacWest Bancorp to post earnings of $0.49 per share and revenue of $83.76 million for the quarter.
PacWest Bancorp (NASDAQ:PACW) last announced its earnings results on Tuesday, July 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.06. During the same quarter in the previous year, the company posted $0.42 earnings per share. On average, analysts expect PacWest Bancorp to post $1.76 EPS for the current fiscal year and $2.28 EPS for the next fiscal year.
Shares of PacWest Bancorp (NASDAQ:PACW) opened at 36.66 on Tuesday. PacWest Bancorp has a 1-year low of $21.50 and a 1-year high of $37.10. The stock has a 50-day moving average of $34.24 and a 200-day moving average of $31.33. The company has a market cap of $1.624 billion and a P/E ratio of 25.67.
PACW has been the subject of a number of recent research reports. Analysts at Ned Davis Research initiated coverage on shares of PacWest Bancorp in a research note to investors on Monday, October 7th. They set a “neutral” rating on the stock. On a related note, analysts at Keefe, Bruyette & Woods upgraded shares of PacWest Bancorp from a “market perform” rating to an “outperform” rating in a research note to investors on Friday, September 20th. They now have a $40.00 price target on the stock, up previously from $30.00. Finally, analysts at Sterne Agee reiterated a “buy” rating on shares of PacWest Bancorp in a research note to investors on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. PacWest Bancorp currently has an average rating of “Buy” and a consensus price target of $36.33.
PacWest Bancorp is a bank holding company. The Company’s principal business is to serve as the holding company for its wholly-owned banking subsidiary, Pacific Western Bank (NASDAQ:PACW).
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