PacWest Bancorp (NASDAQ:PACW) – Investment analysts at FIG Partners lifted their Q1 2019 earnings per share (EPS) estimates for shares of PacWest Bancorp in a note issued to investors on Thursday. FIG Partners analyst C. Marinac now expects that the financial services provider will post earnings of $0.92 per share for the quarter, up from their previous forecast of $0.88. FIG Partners also issued estimates for PacWest Bancorp’s Q2 2019 earnings at $0.94 EPS, Q3 2019 earnings at $0.99 EPS, Q4 2019 earnings at $1.01 EPS and FY2019 earnings at $3.85 EPS.
PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.66 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.08). The firm had revenue of $289.75 million during the quarter, compared to analyst estimates of $297.74 million. PacWest Bancorp had a return on equity of 7.65% and a net margin of 30.12%. During the same quarter last year, the business posted $0.71 earnings per share.
PacWest Bancorp (PACW) traded up $1.31 during trading hours on Monday, reaching $53.95. The company had a trading volume of 999,200 shares, compared to its average volume of 936,123. The firm has a market capitalization of $6,890.00, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 1.61 and a beta of 1.59. PacWest Bancorp has a fifty-two week low of $43.08 and a fifty-two week high of $57.53. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.19.
A number of hedge funds and other institutional investors have recently modified their holdings of PACW. Steward Partners Investment Advisory LLC bought a new position in PacWest Bancorp in the third quarter worth about $122,000. Raymond James Trust N.A. bought a new position in PacWest Bancorp in the third quarter worth about $211,000. CIBC Asset Management Inc bought a new position in PacWest Bancorp in the third quarter worth about $213,000. 1st Global Advisors Inc. lifted its holdings in PacWest Bancorp by 3.4% in the second quarter. 1st Global Advisors Inc. now owns 5,180 shares of the financial services provider’s stock worth $242,000 after acquiring an additional 169 shares during the last quarter. Finally, TLP Group LLC bought a new position in PacWest Bancorp in the second quarter worth about $252,000. 82.42% of the stock is currently owned by hedge funds and other institutional investors.
PacWest Bancorp declared that its Board of Directors has initiated a share buyback program on Thursday, November 16th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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PacWest Bancorp Company Profile
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 October 23, 2017, the Bank offered a range of loan and deposit products and services through 83 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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