PacWest Bancorp (PACW) Expected to Announce Earnings of $0.81 Per Share

Analysts expect that PacWest Bancorp (NASDAQ:PACW) will post earnings per share (EPS) of $0.81 for the current quarter, according to Zacks. Seven analysts have provided estimates for PacWest Bancorp’s earnings, with the highest EPS estimate coming in at $0.85 and the lowest estimate coming in at $0.78. PacWest Bancorp reported earnings of $0.65 per share during the same quarter last year, which suggests a positive year over year growth rate of 24.6%. The business is expected to report its next quarterly earnings report on Monday, April 16th.

According to Zacks, analysts expect that PacWest Bancorp will report full-year earnings of $3.46 per share for the current financial year, with EPS estimates ranging from $3.32 to $3.59. For the next financial year, analysts expect that the company will post earnings of $3.84 per share, with EPS estimates ranging from $3.60 to $4.12. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for PacWest Bancorp.

PacWest Bancorp (NASDAQ:PACW) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). PacWest Bancorp had a net margin of 30.12% and a return on equity of 7.65%. The business had revenue of $289.75 million for the quarter, compared to analysts’ expectations of $297.74 million. During the same quarter in the prior year, the firm earned $0.71 EPS.

PACW has been the topic of a number of research analyst reports. UBS Group downgraded PacWest Bancorp from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, October 17th. FBR & Co downgraded PacWest Bancorp from a “buy” rating to a “neutral” rating and set a $50.00 target price on the stock. in a report on Wednesday, October 18th. Raymond James Financial downgraded PacWest Bancorp from an “outperform” rating to a “market perform” rating and set a $55.00 target price on the stock. in a report on Wednesday, November 1st. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $59.00 target price on shares of PacWest Bancorp in a report on Friday, December 22nd. Finally, BidaskClub upgraded PacWest Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $55.18.

Shares of PacWest Bancorp (NASDAQ PACW) traded down $0.26 during trading hours on Thursday, reaching $51.33. The company had a trading volume of 416,984 shares, compared to its average volume of 763,461. PacWest Bancorp has a 52 week low of $43.08 and a 52 week high of $57.53. The stock has a market cap of $6,565.35, a P/E ratio of 17.60, a PEG ratio of 1.47 and a beta of 1.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.90 and a current ratio of 0.93.

PacWest Bancorp declared that its board has authorized a share repurchase program on Thursday, November 16th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, February 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.90%. PacWest Bancorp’s dividend payout ratio (DPR) is 68.49%.

In other PacWest Bancorp news, Director Daniel B. Platt sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $53.61, for a total transaction of $375,270.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.98% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of PACW. PNC Financial Services Group Inc. grew its stake in shares of PacWest Bancorp by 4.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,662 shares of the financial services provider’s stock worth $452,000 after buying an additional 452 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of PacWest Bancorp by 21.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 85,015 shares of the financial services provider’s stock worth $3,970,000 after buying an additional 15,108 shares during the last quarter. GSA Capital Partners LLP grew its stake in shares of PacWest Bancorp by 90.6% in the 2nd quarter. GSA Capital Partners LLP now owns 7,761 shares of the financial services provider’s stock worth $362,000 after buying an additional 3,690 shares during the last quarter. Numeric Investors LLC bought a new position in PacWest Bancorp in the 2nd quarter valued at approximately $285,000. Finally, First Allied Advisory Services Inc. lifted its position in PacWest Bancorp by 1.1% in the 2nd quarter. First Allied Advisory Services Inc. now owns 5,781 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

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

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