PacWest Bancorp (NASDAQ:PACW) Expected to Announce Earnings of $0.95 Per Share

Brokerages predict that PacWest Bancorp (NASDAQ:PACW) will report earnings per share (EPS) of $0.95 for the current quarter, according to Zacks. Seven analysts have issued estimates for PacWest Bancorp’s earnings. The lowest EPS estimate is $0.93 and the highest is $0.97. PacWest Bancorp posted earnings per share of $0.94 in the same quarter last year, which suggests a positive year-over-year growth rate of 1.1%. The company is scheduled to announce its next quarterly earnings report on Tuesday, October 15th.

According to Zacks, analysts expect that PacWest Bancorp will report full-year earnings of $3.85 per share for the current fiscal year, with EPS estimates ranging from $3.73 to $3.93. For the next year, analysts expect that the company will post earnings of $3.82 per share, with EPS estimates ranging from $3.76 to $3.89. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for PacWest Bancorp.

PacWest Bancorp (NASDAQ:PACW) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.13. PacWest Bancorp had a net margin of 34.54% and a return on equity of 9.83%. The firm had revenue of $311.79 million for the quarter, compared to analyst estimates of $291.71 million. During the same quarter in the previous year, the firm posted $0.92 earnings per share.

A number of research analysts have weighed in on PACW shares. Raymond James lowered shares of PacWest Bancorp from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 8th. ValuEngine lowered shares of PacWest Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 16th. Wells Fargo & Co set a $38.00 price objective on shares of PacWest Bancorp and gave the stock a “hold” rating in a research report on Wednesday, April 17th. BidaskClub raised shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Stephens reissued a “buy” rating and issued a $43.00 price objective on shares of PacWest Bancorp in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $43.00.

A number of hedge funds and other institutional investors have recently bought and sold shares of PACW. FMR LLC raised its position in PacWest Bancorp by 117.6% during the fourth quarter. FMR LLC now owns 2,664,592 shares of the financial services provider’s stock worth $88,677,000 after acquiring an additional 1,439,867 shares in the last quarter. Norges Bank bought a new stake in PacWest Bancorp during the fourth quarter worth $38,929,000. Ceredex Value Advisors LLC raised its position in PacWest Bancorp by 36.7% during the first quarter. Ceredex Value Advisors LLC now owns 2,008,750 shares of the financial services provider’s stock worth $75,549,000 after acquiring an additional 539,050 shares in the last quarter. Principal Financial Group Inc. raised its position in PacWest Bancorp by 9.8% during the first quarter. Principal Financial Group Inc. now owns 4,581,899 shares of the financial services provider’s stock worth $172,328,000 after acquiring an additional 410,280 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in PacWest Bancorp by 23.0% during the first quarter. Lazard Asset Management LLC now owns 1,348,274 shares of the financial services provider’s stock worth $50,708,000 after acquiring an additional 251,761 shares in the last quarter. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

PACW traded down $1.90 during trading on Thursday, reaching $36.73. The company had a trading volume of 804,700 shares, compared to its average volume of 938,598. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.96 and a current ratio of 0.99. PacWest Bancorp has a 12 month low of $31.16 and a 12 month high of $52.15. The company’s fifty day moving average price is $38.19. The stock has a market capitalization of $4.41 billion, a P/E ratio of 9.87, a P/E/G ratio of 1.00 and a beta of 1.45.

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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