PacWest Bancorp (PACW) Posts Quarterly Earnings, Misses Estimates By $0.16 EPS
PacWest Bancorp (NASDAQ:PACW) released its earnings data on Thursday. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.50 by $0.16, American Banking News reports. During the same quarter in the previous year, the company posted $0.54 earnings per share.
A number of research firms have recently commented on PACW. Analysts at Evercore Partners upgraded shares of PacWest Bancorp from an “equal weight” rating to an “overweight” rating in a research note to investors on Tuesday, January 7th. They now have a $46.00 price target on the stock, up previously from $39.00. On a related note, analysts at Wunderlich raised their price target on shares of PacWest Bancorp from $42.00 to $47.00 in a research note to investors on Wednesday, December 4th. They now have a “buy” rating on the stock. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of PacWest Bancorp from $40.00 to $46.00 in a research note to investors on Tuesday, October 29th. They now have an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. PacWest Bancorp presently has a consensus rating of “Buy” and an average target price of $43.00.
Shares of PacWest Bancorp (NASDAQ:PACW) opened at 43.35 on Thursday. PacWest Bancorp has a 52-week low of $25.81 and a 52-week high of $43.97. The stock’s 50-day moving average is $42.30 and its 200-day moving average is $37.29. The company has a market cap of $1.921 billion and a price-to-earnings ratio of 27.90.
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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