PacWest Bancorp to Post Q1 2018 Earnings of $0.80 Per Share, FBR & Co Forecasts (PACW)

PacWest Bancorp (NASDAQ:PACW) – Analysts at FBR & Co boosted their Q1 2018 earnings estimates for shares of PacWest Bancorp in a report issued on Tuesday. FBR & Co analyst S. Moss now expects that the financial services provider will earn $0.80 per share for the quarter, up from their previous estimate of $0.78. FBR & Co currently has a “Buy” rating and a $55.00 target price on the stock.

PacWest Bancorp (NASDAQ:PACW) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. PacWest Bancorp had a net margin of 30.61% and a return on equity of 7.73%. The company had revenue of $277.76 million for the quarter, compared to the consensus estimate of $272.57 million. During the same period in the previous year, the firm earned $0.68 earnings per share. TRADEMARK VIOLATION NOTICE: “PacWest Bancorp to Post Q1 2018 Earnings of $0.80 Per Share, FBR & Co Forecasts (PACW)” was first reported by Markets Daily and is the property of of Markets Daily. If you are viewing this article on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.themarketsdaily.com/2017/10/13/pacwest-bancorp-to-post-q1-2018-earnings-of-0-80-per-share-fbr-co-forecasts-pacw.html.

Other equities research analysts have also recently issued reports about the stock. Stephens reaffirmed a “buy” rating and set a $56.00 price target on shares of PacWest Bancorp in a research note on Friday, July 14th. ValuEngine upgraded shares of PacWest Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. DA Davidson upgraded shares of PacWest Bancorp from a “neutral” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Thursday, September 7th. SunTrust Banks, Inc. reiterated a “hold” rating and set a $49.00 price objective on shares of PacWest Bancorp in a report on Thursday. Finally, Zacks Investment Research upgraded shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company. PacWest Bancorp has a consensus rating of “Buy” and a consensus target price of $54.50.

Shares of PacWest Bancorp (PACW) traded down 0.56% during trading on Wednesday, reaching $48.35. 148,564 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $47.16 and a 200-day moving average price of $48.03. PacWest Bancorp has a 52 week low of $41.10 and a 52 week high of $57.53. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 16.70 and a beta of 1.62.

Hedge funds have recently made changes to their positions in the company. Synovus Financial Corp lifted its holdings in shares of PacWest Bancorp by 9.3% during the 2nd quarter. Synovus Financial Corp now owns 142,042 shares of the financial services provider’s stock worth $6,641,000 after acquiring an additional 12,055 shares during the period. Victory Capital Management Inc. raised its holdings in PacWest Bancorp by 11.5% in the second quarter. Victory Capital Management Inc. now owns 1,619,976 shares of the financial services provider’s stock valued at $75,653,000 after buying an additional 167,575 shares during the period. JPMorgan Chase & Co. raised its holdings in PacWest Bancorp by 4.9% in the second quarter. JPMorgan Chase & Co. now owns 1,283,555 shares of the financial services provider’s stock valued at $59,942,000 after buying an additional 59,603 shares during the period. Heartland Advisors Inc. raised its holdings in PacWest Bancorp by 20.1% in the second quarter. Heartland Advisors Inc. now owns 240,200 shares of the financial services provider’s stock valued at $11,217,000 after buying an additional 40,200 shares during the period. Finally, Morgan Stanley raised its holdings in PacWest Bancorp by 51.3% in the first quarter. Morgan Stanley now owns 529,283 shares of the financial services provider’s stock valued at $28,189,000 after buying an additional 179,423 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

About PacWest Bancorp

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.

Earnings History and Estimates for PacWest Bancorp (NASDAQ:PACW)

Receive News & Ratings for PacWest Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PacWest Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply