Q1 2018 EPS Estimates for PacWest Bancorp Raised by Analyst (PACW)
PacWest Bancorp (NASDAQ:PACW) – Equities researchers at FBR & Co lifted their Q1 2018 earnings per share (EPS) estimates for PacWest Bancorp in a note issued to investors on Tuesday. FBR & Co analyst S. Moss now forecasts that the financial services provider will earn $0.80 per share for the quarter, up from their prior estimate of $0.78. FBR & Co has a “Buy” rating and a $55.00 price target on the stock.
PacWest Bancorp (NASDAQ:PACW) last posted its earnings results on Tuesday, July 18th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. PacWest Bancorp had a return on equity of 7.73% and a net margin of 30.61%. The firm had revenue of $277.76 million for the quarter, compared to analyst estimates of $272.57 million. During the same quarter in the prior year, the company earned $0.68 EPS.
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Other research analysts have also issued research reports about the stock. Stephens restated a “buy” rating and issued a $56.00 price target on shares of PacWest Bancorp in a research report on Friday, July 14th. ValuEngine upgraded shares of PacWest Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. DA Davidson upgraded shares of PacWest Bancorp from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Thursday, September 7th. Zacks Investment Research upgraded shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. Finally, SunTrust Banks, Inc. initiated coverage on shares of PacWest Bancorp in a research report on Friday, August 18th. They issued a “hold” rating and a $49.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $54.50.
PacWest Bancorp (PACW) traded down 0.75% during midday trading on Wednesday, reaching $48.86. The company had a trading volume of 19,754 shares. PacWest Bancorp has a 52-week low of $41.10 and a 52-week high of $57.53. The company’s 50 day moving average is $46.98 and its 200-day moving average is $48.02. The company has a market capitalization of $5.87 billion, a P/E ratio of 16.87 and a beta of 1.62.
A number of institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new position in PacWest Bancorp in the 2nd quarter worth approximately $942,000. Public Employees Retirement System of Ohio boosted its stake in PacWest Bancorp by 0.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 44,781 shares of the financial services provider’s stock worth $2,091,000 after purchasing an additional 408 shares during the period. Koch Industries Inc. boosted its stake in PacWest Bancorp by 30,853.3% in the 2nd quarter. Koch Industries Inc. now owns 1,341,514 shares of the financial services provider’s stock worth $1,313,000 after purchasing an additional 1,337,180 shares during the period. 1st Global Advisors Inc. boosted its stake in PacWest Bancorp by 3.4% in the 2nd quarter. 1st Global Advisors Inc. now owns 5,180 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 169 shares during the period. Finally, Verition Fund Management LLC boosted its stake in PacWest Bancorp by 69.8% in the 2nd quarter. Verition Fund Management LLC now owns 23,243 shares of the financial services provider’s stock worth $1,085,000 after purchasing an additional 9,552 shares during the period. 88.64% of the stock is owned by hedge funds and other institutional investors.
About PacWest Bancorp
PacWest Bancorp is a bank holding company for Pacific Western Bank (the Bank). The Company is focused on relationship-based business banking to small, middle-market and venture-backed businesses. As of December 31, 2016, the Bank offered a range of loan and deposit products and services through 77 branches located throughout the state of California, one branch located in Durham, North Carolina, and several loan production offices located in cities across the country.
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