FIG Partners Weighs in on PacWest Bancorp’s Q2 2019 Earnings (PACW)

PacWest Bancorp (NASDAQ:PACW) – Equities researchers at FIG Partners upped their Q2 2019 EPS estimates for PacWest Bancorp in a research note issued to investors on Tuesday, April 16th, according to Zacks Investment Research. FIG Partners analyst C. Marinac now forecasts that the financial services provider will earn $0.94 per share for the quarter, up from their prior estimate of $0.93. FIG Partners also issued estimates for PacWest Bancorp’s Q3 2019 earnings at $0.96 EPS, Q4 2019 earnings at $0.97 EPS and FY2019 earnings at $3.79 EPS.

PacWest Bancorp (NASDAQ:PACW) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.01. The firm had revenue of $285.94 million during the quarter, compared to the consensus estimate of $291.86 million. PacWest Bancorp had a net margin of 34.47% and a return on equity of 9.58%. During the same quarter last year, the company earned $0.93 earnings per share.

Several other equities analysts also recently weighed in on PACW. Zacks Investment Research upgraded shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, March 30th. Wells Fargo & Co set a $38.00 target price on shares of PacWest Bancorp and gave the stock a “hold” rating in a research note on Wednesday, April 17th. TheStreet upgraded shares of PacWest Bancorp from a “c+” rating to a “b-” rating in a research note on Monday, February 25th. BidaskClub upgraded shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Finally, Stephens reiterated a “buy” rating and issued a $43.00 target price on shares of PacWest Bancorp in a research note on Thursday, March 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $46.11.

Shares of PACW traded down $0.12 during trading hours on Thursday, hitting $39.32. The company’s stock had a trading volume of 619,937 shares, compared to its average volume of 1,025,951. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.07 and a beta of 1.53. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.40. PacWest Bancorp has a 52-week low of $31.16 and a 52-week high of $55.86.

Hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors boosted its position in shares of PacWest Bancorp by 43.0% in the fourth quarter. Captrust Financial Advisors now owns 2,868 shares of the financial services provider’s stock valued at $95,000 after acquiring an additional 863 shares during the period. First Hawaiian Bank boosted its position in shares of PacWest Bancorp by 128.5% in the first quarter. First Hawaiian Bank now owns 786 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 442 shares during the period. Walthausen & Co. LLC bought a new position in shares of PacWest Bancorp in the fourth quarter valued at approximately $4,904,000. Prudential PLC boosted its position in shares of PacWest Bancorp by 18.2% in the fourth quarter. Prudential PLC now owns 37,100 shares of the financial services provider’s stock valued at $1,235,000 after acquiring an additional 5,700 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of PacWest Bancorp in the third quarter valued at approximately $336,000. Institutional investors own 92.85% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be given a $0.60 dividend. The ex-dividend date is Friday, May 17th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.10%. PacWest Bancorp’s dividend payout ratio (DPR) is currently 64.52%.

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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