PacWest Bancorp (NASDAQ:PACW) – Stock analysts at FIG Partners decreased their Q1 2018 earnings per share estimates for shares of PacWest Bancorp in a research note issued on Tuesday. FIG Partners analyst C. Marinac now forecasts that the financial services provider will earn $0.79 per share for the quarter, down from their prior estimate of $0.82. FIG Partners also issued estimates for PacWest Bancorp’s Q2 2018 earnings at $0.84 EPS, Q3 2018 earnings at $0.87 EPS, Q4 2018 earnings at $0.88 EPS and FY2018 earnings at $3.38 EPS.
PACW has been the subject of a number of other research reports. Zacks Investment Research raised PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. DA Davidson raised PacWest Bancorp from a “neutral” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Thursday, September 7th. UBS AG cut PacWest Bancorp from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday. ValuEngine cut PacWest Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BidaskClub raised PacWest Bancorp from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. PacWest Bancorp has a consensus rating of “Hold” and an average price target of $54.00.
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Shares of PacWest Bancorp (PACW) traded down 0.11% on Thursday, hitting $46.57. The stock had a trading volume of 452,583 shares. The company has a market cap of $5.59 billion, a P/E ratio of 16.08 and a beta of 1.62. PacWest Bancorp has a 12 month low of $41.10 and a 12 month high of $57.53. The company’s 50 day moving average price is $47.37 and its 200-day moving average price is $47.85.
PacWest Bancorp (NASDAQ:PACW) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $273.07 million for the quarter, compared to the consensus estimate of $281.14 million. PacWest Bancorp had a return on equity of 7.91% and a net margin of 30.80%. During the same period in the prior year, the company posted $0.77 earnings per share.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd acquired a new stake in PacWest Bancorp during the 2nd quarter worth about $942,000. Public Employees Retirement System of Ohio lifted its position in PacWest Bancorp by 0.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 44,781 shares of the financial services provider’s stock worth $2,091,000 after acquiring an additional 408 shares during the period. Koch Industries Inc. lifted its position in PacWest Bancorp by 30,853.3% during the 2nd quarter. Koch Industries Inc. now owns 1,341,514 shares of the financial services provider’s stock worth $1,313,000 after acquiring an additional 1,337,180 shares during the period. 1st Global Advisors Inc. lifted its position in PacWest Bancorp by 3.4% during the 2nd quarter. 1st Global Advisors Inc. now owns 5,180 shares of the financial services provider’s stock worth $242,000 after acquiring an additional 169 shares during the period. Finally, Verition Fund Management LLC lifted its position in PacWest Bancorp by 69.8% during the 2nd quarter. Verition Fund Management LLC now owns 23,243 shares of the financial services provider’s stock worth $1,085,000 after acquiring an additional 9,552 shares during the period. 88.75% of the stock is owned by institutional investors.
PacWest Bancorp Company Profile
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 December 31, 2016, the Bank offered a range of loan and deposit products and services through 77 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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