PacWest Bancorp Expected to Post Q4 2018 Earnings of $0.88 Per Share (PACW)

PacWest Bancorp (NASDAQ:PACW) – Equities research analysts at Wedbush issued their Q4 2018 EPS estimates for PacWest Bancorp in a note issued to investors on Wednesday, October 17th, Zacks Investment Research reports. Wedbush analyst D. Chiaverini expects that the financial services provider will post earnings of $0.88 per share for the quarter. Wedbush has a “Neutral” rating on the stock. Wedbush also issued estimates for PacWest Bancorp’s Q1 2019 earnings at $0.86 EPS, Q2 2019 earnings at $0.92 EPS, Q3 2019 earnings at $0.95 EPS, Q4 2019 earnings at $0.97 EPS, FY2019 earnings at $3.70 EPS and FY2020 earnings at $3.95 EPS.

Several other brokerages also recently commented on PACW. BidaskClub upgraded PacWest Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, August 17th. Zacks Investment Research upgraded PacWest Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Thursday, July 19th. Sandler O’Neill reiterated a “buy” rating and set a $58.00 target price on shares of PacWest Bancorp in a research note on Friday, July 20th. Finally, Stephens reissued a “buy” rating and set a $58.00 price target on shares of PacWest Bancorp in a report on Wednesday, September 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $54.89.

PACW traded down $0.56 during trading on Thursday, hitting $41.25. 879,277 shares of the company’s stock traded hands, compared to its average volume of 1,589,852. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.41. PacWest Bancorp has a 12-month low of $37.65 and a 12-month high of $55.86. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 1.12 and a beta of 1.45.

PacWest Bancorp (NASDAQ:PACW) last issued its earnings results on Tuesday, October 16th. The financial services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.92 by $0.02. PacWest Bancorp had a return on equity of 8.95% and a net margin of 33.60%. The business had revenue of $297.23 million for the quarter, compared to the consensus estimate of $301.52 million. During the same period last year, the business posted $0.84 EPS.

A number of institutional investors have recently made changes to their positions in PACW. UBS Group AG raised its holdings in PacWest Bancorp by 104.1% in the 1st quarter. UBS Group AG now owns 200,363 shares of the financial services provider’s stock worth $9,924,000 after purchasing an additional 102,177 shares during the period. Barclays PLC raised its holdings in PacWest Bancorp by 42.9% in the 1st quarter. Barclays PLC now owns 40,069 shares of the financial services provider’s stock worth $1,985,000 after purchasing an additional 12,037 shares during the period. LPL Financial LLC raised its holdings in PacWest Bancorp by 28.4% in the 1st quarter. LPL Financial LLC now owns 8,346 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 1,847 shares during the period. Guggenheim Capital LLC raised its holdings in PacWest Bancorp by 11.6% in the 1st quarter. Guggenheim Capital LLC now owns 200,067 shares of the financial services provider’s stock worth $9,909,000 after purchasing an additional 20,844 shares during the period. Finally, Verition Fund Management LLC bought a new position in PacWest Bancorp in the 1st quarter worth $701,000. 87.28% of the stock is currently owned by institutional investors.

In other news, Director Tanya M. Acker purchased 1,000 shares of the stock in a transaction dated Friday, September 14th. The shares were purchased at an average cost of $50.26 per share, with a total value of $50,260.00. Following the acquisition, the director now directly owns 3,900 shares of the company’s stock, valued at $196,014. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John M. Eggemeyer III bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was bought at an average cost of $41.23 per share, for a total transaction of $412,300.00. The disclosure for this purchase can be found here. Insiders have bought a total of 31,925 shares of company stock worth $1,278,844 over the last three months. Insiders own 1.01% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 19th. This represents a $2.40 annualized dividend and a dividend yield of 5.82%. PacWest Bancorp’s payout ratio is 82.19%.

PacWest Bancorp Company Profile

PacWest Bancorp operates as the holding company for Pacific Western Bank, a state chartered bank that provides commercial banking products and services. The company accepts demand, money market, and time deposits. It also provides real estate loans to professional developers and real estate investors for the acquisition, refinancing, and construction of commercial real estate properties; small business administration loans; asset-based loans for working capital needs; venture capital loans to support the start-up operations of entrepreneurial companies; and equipment-secured loans and leases.

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

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