PacWest Bancorp (NASDAQ:PACW) – Equities researchers at FIG Partners decreased their Q3 2017 earnings per share (EPS) estimates for shares of PacWest Bancorp in a research note issued to investors on Wednesday. FIG Partners analyst C. Marinac now anticipates that the financial services provider will earn $0.74 per share for the quarter, down from their prior forecast of $0.75. FIG Partners also issued estimates for PacWest Bancorp’s Q4 2017 earnings at $0.78 EPS.
PacWest Bancorp (NASDAQ:PACW) last announced its earnings results on Tuesday, July 18th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.71 by $0.06. The business had revenue of $277.76 million for the quarter, compared to the consensus estimate of $272.57 million. PacWest Bancorp had a return on equity of 7.73% and a net margin of 30.61%. During the same period last year, the business posted $0.68 EPS. WARNING: “PacWest Bancorp to Post Q3 2017 Earnings of $0.74 Per Share, FIG Partners Forecasts (PACW)” was posted by Markets Daily and is the property of of Markets Daily. If you are accessing this article on another site, it was stolen and republished in violation of US & international copyright legislation. The correct version of this article can be viewed at https://www.themarketsdaily.com/2017/10/13/pacwest-bancorp-to-post-q3-2017-earnings-of-0-74-per-share-fig-partners-forecasts-pacw.html.
A number of other brokerages have also recently weighed in on PACW. FBR & Co set a $55.00 price target on PacWest Bancorp and gave the stock a “buy” rating in a research report on Wednesday, July 19th. SunTrust Banks, Inc. reissued a “hold” rating and set a $49.00 price objective on shares of PacWest Bancorp in a research report on Thursday. Zacks Investment Research cut PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Friday. BidaskClub cut PacWest Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Finally, ValuEngine raised PacWest Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $54.50.
Shares of PacWest Bancorp (NASDAQ PACW) opened at 48.62 on Friday. The company’s 50 day moving average price is $47.16 and its 200 day moving average price is $48.03. The stock has a market capitalization of $5.84 billion, a P/E ratio of 16.79 and a beta of 1.62. PacWest Bancorp has a one year low of $41.10 and a one year high of $57.53.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ffcm LLC lifted its position in shares of PacWest Bancorp by 172.7% during the 2nd quarter. Ffcm LLC now owns 2,394 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 1,516 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in PacWest Bancorp by 12.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,132 shares of the financial services provider’s stock valued at $193,000 after acquiring an additional 468 shares in the last quarter. Creative Planning raised its holdings in PacWest Bancorp by 17.3% in the 2nd quarter. Creative Planning now owns 4,157 shares of the financial services provider’s stock valued at $194,000 after acquiring an additional 613 shares in the last quarter. Two Sigma Securities LLC acquired a new position in PacWest Bancorp in the 1st quarter valued at approximately $237,000. Finally, Charter Trust Co. raised its holdings in PacWest Bancorp by 0.8% in the 2nd quarter. Charter Trust Co. now owns 4,757 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 38 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.
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.
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