Analysts expect PacWest Bancorp (NASDAQ:PACW) to report $0.81 earnings per share (EPS) for the current quarter, according to Zacks. Seven analysts have issued 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 per share of $0.65 in the same quarter last year, which indicates a positive year over year growth rate of 24.6%. The company is scheduled to announce its next quarterly earnings results on Monday, April 16th.
On average, analysts expect that PacWest Bancorp will report full-year earnings of $3.46 per share for the current fiscal year, with EPS estimates ranging from $3.32 to $3.59. For the next fiscal year, analysts expect that the business will report earnings of $3.84 per share, with EPS estimates ranging from $3.60 to $4.12. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow PacWest Bancorp.
PacWest Bancorp (NASDAQ:PACW) last posted its earnings results on Thursday, January 18th. The financial services provider reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ 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 net margin of 30.12% and a return on equity of 7.65%. During the same period last year, the company posted $0.71 EPS.
In related news, Director Daniel B. Platt sold 7,000 shares of the stock in a transaction dated 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 can be accessed through the SEC website. Corporate insiders own 0.98% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SWS Partners purchased a new position in PacWest Bancorp during the fourth quarter worth about $110,000. Captrust Financial Advisors purchased a new position in PacWest Bancorp during the fourth quarter worth about $111,000. Steward Partners Investment Advisory LLC purchased a new position in PacWest Bancorp during the third quarter worth about $122,000. Cerebellum GP LLC purchased a new position in PacWest Bancorp during the fourth quarter worth about $135,000. Finally, Bessemer Group Inc. purchased a new position in PacWest Bancorp during the fourth quarter worth about $144,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.
Shares of PacWest Bancorp (NASDAQ:PACW) opened at $52.91 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.90. The firm has a market capitalization of $6,715.29, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 1.54 and a beta of 1.45. PacWest Bancorp has a twelve month low of $43.08 and a twelve month high of $57.08.
PacWest Bancorp declared that its board has authorized a stock buyback program on Thursday, November 16th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were given a dividend of $0.50 per share. The ex-dividend date was Friday, February 16th. This represents a $2.00 annualized dividend and a yield of 3.78%. PacWest Bancorp’s dividend payout ratio (DPR) is presently 68.49%.
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 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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