PacWest Bancorp (PACW) Expected to Post Quarterly Sales of $301.80 Million

Equities research analysts expect that PacWest Bancorp (NASDAQ:PACW) will announce sales of $301.80 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for PacWest Bancorp’s earnings, with the lowest sales estimate coming in at $298.00 million and the highest estimate coming in at $305.60 million. PacWest Bancorp posted sales of $273.07 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.5%. The firm is scheduled to report its next earnings results on Tuesday, October 16th.

According to Zacks, analysts expect that PacWest Bancorp will report full-year sales of $1.20 billion for the current financial year, with estimates ranging from $1.17 billion to $1.22 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.34 billion per share, with estimates ranging from $1.32 billion to $1.36 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow PacWest Bancorp.

PacWest Bancorp (NASDAQ:PACW) last announced its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.05. PacWest Bancorp had a return on equity of 8.70% and a net margin of 33.41%. The firm had revenue of $301.97 million for the quarter, compared to analysts’ expectations of $293.62 million. During the same quarter in the prior year, the firm posted $0.77 earnings per share.

A number of brokerages have recently weighed in on PACW. Zacks Investment Research cut PacWest Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, July 20th. BidaskClub upgraded PacWest Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 6th. Wedbush reiterated a “neutral” rating on shares of PacWest Bancorp in a research report on Monday, July 16th. Stephens reiterated a “buy” rating and set a $58.00 price target on shares of PacWest Bancorp in a research report on Friday, July 13th. Finally, Sandler O’Neill reiterated a “buy” rating and set a $58.00 price target on shares of PacWest Bancorp in a research report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. PacWest Bancorp presently has a consensus rating of “Buy” and a consensus price target of $55.82.

Shares of NASDAQ PACW opened at $50.75 on Friday. PacWest Bancorp has a 52-week low of $43.61 and a 52-week high of $55.86. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.36 and a beta of 1.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.95 and a current ratio of 0.95.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Monday, August 20th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date was Friday, August 17th. PacWest Bancorp’s dividend payout ratio (DPR) is 82.19%.

In other PacWest Bancorp news, Director Tanya M. Acker acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was acquired 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 approximately $196,014. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.01% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Point72 Asia Hong Kong Ltd bought a new position in PacWest Bancorp during the 1st quarter valued at $139,000. Qube Research & Technologies Ltd bought a new position in PacWest Bancorp during the 2nd quarter valued at $158,000. ARP Americas LP bought a new position in PacWest Bancorp during the 2nd quarter valued at $217,000. NumerixS Investment Technologies Inc bought a new position in PacWest Bancorp during the 2nd quarter valued at $235,000. Finally, Summit X LLC bought a new position in PacWest Bancorp during the 2nd quarter valued at $238,000. 87.42% of the stock is owned by institutional investors and hedge funds.

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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