PacWest Bancorp (NASDAQ:PACW) Posts Earnings Results, Beats Expectations By $0.13 EPS

PacWest Bancorp (NASDAQ:PACW) issued its quarterly earnings results on Tuesday. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.94 by $0.13, Briefing.com reports. The company had revenue of $311.79 million for the quarter, compared to the consensus estimate of $291.71 million. PacWest Bancorp had a net margin of 34.54% and a return on equity of 9.83%. During the same period in the prior year, the firm posted $0.92 EPS.

Shares of NASDAQ:PACW opened at $37.58 on Friday. The company has a market cap of $4.41 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 0.97 and a beta of 1.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.99 and a quick ratio of 0.96. PacWest Bancorp has a 12 month low of $31.16 and a 12 month high of $52.15. The firm’s 50-day moving average price is $37.99.

Several equities analysts recently commented on PACW shares. ValuEngine upgraded shares of Vale from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub upgraded shares of Acceleron Pharma from a “strong sell” rating to a “sell” rating in a report on Friday. Wells Fargo & Co reiterated a “buy” rating on shares of Morgan Stanley in a report on Wednesday, April 17th. Zacks Investment Research downgraded shares of EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Stephens reiterated a “buy” rating and set a $43.00 price target on shares of PacWest Bancorp in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $44.67.

About PacWest Bancorp

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 for PacWest Bancorp (NASDAQ:PACW)

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