PacWest Bancorp (NASDAQ:PACW) – Analysts at FIG Partners decreased their Q1 2019 EPS estimates for PacWest Bancorp in a research note issued on Wednesday, October 17th. FIG Partners analyst C. Marinac now expects that the financial services provider will post earnings per share of $0.69 for the quarter, down from their prior estimate of $0.74. FIG Partners also issued estimates for PacWest Bancorp’s FY2019 earnings at $3.68 EPS, Q1 2020 earnings at $1.00 EPS, Q2 2020 earnings at $1.01 EPS, Q3 2020 earnings at $1.04 EPS and FY2020 earnings at $4.11 EPS.
Several other research analysts have also commented on the stock. BMO Capital Markets dropped their price objective on shares of PacWest Bancorp from $52.00 to $50.00 and set a “market perform” rating for the company in a research note on Wednesday. ValuEngine lowered shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Stephens reaffirmed a “buy” rating and set a $58.00 price objective on shares of PacWest Bancorp in a research note on Tuesday. Wells Fargo & Co set a $51.00 price objective on shares of PacWest Bancorp and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Finally, BidaskClub lowered shares of PacWest Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. PacWest Bancorp currently has an average rating of “Hold” and a consensus price target of $54.92.
PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.92 by $0.02. The company had revenue of $297.23 million during the quarter, compared to analyst estimates of $301.52 million. PacWest Bancorp had a net margin of 33.41% and a return on equity of 8.70%. During the same period in the previous year, the firm earned $0.84 earnings per share.
Several large investors have recently added to or reduced their stakes in PACW. Qube Research & Technologies Ltd bought a new stake in shares of PacWest Bancorp during the second quarter worth $158,000. ARP Americas LP bought a new stake in shares of PacWest Bancorp during the second quarter worth $217,000. NumerixS Investment Technologies Inc bought a new stake in shares of PacWest Bancorp during the second quarter worth $235,000. Summit X LLC bought a new stake in shares of PacWest Bancorp during the second quarter worth $238,000. Finally, Raymond James Trust N.A. bought a new stake in shares of PacWest Bancorp in the second quarter valued at about $267,000. Institutional investors and hedge funds own 87.42% of the company’s stock.
In other PacWest Bancorp news, Director Tanya M. Acker bought 1,000 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was acquired at an average cost of $50.26 per share, for a total transaction of $50,260.00. Following the completion of the transaction, the director now owns 3,900 shares in the company, valued at $196,014. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.01% of the stock is currently owned by company insiders.
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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