PacWest Bancorp (NASDAQ:PACW) – FBR & Co lowered their FY2017 earnings per share (EPS) estimates for PacWest Bancorp in a research report issued on Tuesday. FBR & Co analyst S. Moss now expects that the financial services provider will earn $2.89 per share for the year, down from their previous forecast of $2.95. FBR & Co currently has a “Buy” rating and a $55.00 target price on the stock. FBR & Co also issued estimates for PacWest Bancorp’s Q4 2017 earnings at $0.73 EPS, Q2 2018 earnings at $0.83 EPS, Q3 2018 earnings at $0.85 EPS, Q4 2018 earnings at $0.86 EPS and FY2018 earnings at $3.35 EPS.

Several other analysts have also weighed in on PACW. BidaskClub lowered PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Wedbush restated a “neutral” rating and set a $49.00 target price on shares of PacWest Bancorp in a research report on Tuesday, June 27th. ValuEngine upgraded PacWest Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Stephens restated a “buy” rating and set a $56.00 target price on shares of PacWest Bancorp in a research report on Friday, July 14th. Finally, Zacks Investment Research upgraded PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. PacWest Bancorp has a consensus rating of “Buy” and an average target price of $54.50.

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Shares of PacWest Bancorp (NASDAQ:PACW) opened at 48.63 on Thursday. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of 16.79 and a beta of 1.62. 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 price is $47.07 and its 200 day moving average price is $48.02.

PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.06. The business had revenue of $277.76 million for the quarter, compared to analyst estimates of $272.57 million. PacWest Bancorp had a return on equity of 7.73% and a net margin of 30.61%. During the same period in the prior year, the company posted $0.68 EPS.

Institutional investors and hedge funds have recently modified their holdings of the business. Synovus Financial Corp raised its position in PacWest Bancorp by 9.3% in the 2nd quarter. Synovus Financial Corp now owns 142,042 shares of the financial services provider’s stock valued at $6,641,000 after purchasing an additional 12,055 shares during the last quarter. Victory Capital Management Inc. raised its position in PacWest Bancorp by 11.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,619,976 shares of the financial services provider’s stock valued at $75,653,000 after purchasing an additional 167,575 shares during the last quarter. JPMorgan Chase & Co. raised its position in PacWest Bancorp by 4.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,283,555 shares of the financial services provider’s stock valued at $59,942,000 after purchasing an additional 59,603 shares during the last quarter. Heartland Advisors Inc. raised its position in PacWest Bancorp by 20.1% in the 2nd quarter. Heartland Advisors Inc. now owns 240,200 shares of the financial services provider’s stock valued at $11,217,000 after purchasing an additional 40,200 shares during the last quarter. Finally, Morgan Stanley raised its position in PacWest Bancorp by 51.3% in the 1st quarter. Morgan Stanley now owns 529,283 shares of the financial services provider’s stock valued at $28,189,000 after purchasing an additional 179,423 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

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.

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

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