PacWest Bancorp (PACW) Set to Announce Earnings on Wednesday

PacWest Bancorp (NASDAQ:PACW) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, January 17th. Analysts expect PacWest Bancorp to post earnings of $0.74 per share for the quarter.

PacWest Bancorp (NASDAQ:PACW) last announced its earnings results on Tuesday, October 17th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $273.07 million during the quarter, compared to analysts’ expectations of $281.14 million. PacWest Bancorp had a return on equity of 7.87% and a net margin of 30.80%. During the same quarter in the prior year, the business earned $0.77 earnings per share. On average, analysts expect PacWest Bancorp to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Shares of PacWest Bancorp (NASDAQ PACW) opened at $51.69 on Wednesday. The stock has a market capitalization of $6,660.00, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.60 and a beta of 1.59. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15. PacWest Bancorp has a 12-month low of $43.08 and a 12-month high of $57.53.

PacWest Bancorp announced that its Board of Directors has initiated a share repurchase program on Thursday, November 16th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

In other PacWest Bancorp news, CFO Patrick J. Rusnak acquired 2,000 shares of PacWest Bancorp stock in a transaction dated Thursday, October 19th. The stock was bought at an average cost of $46.92 per share, with a total value of $93,840.00. Following the completion of the transaction, the chief financial officer now owns 77,852 shares of the company’s stock, valued at $3,652,815.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is currently owned by corporate insiders.

A number of equities research analysts have issued reports on the company. SunTrust Banks reaffirmed a “hold” rating and set a $54.00 target price on shares of PacWest Bancorp in a research report on Tuesday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $59.00 target price on shares of PacWest Bancorp in a research report on Friday, December 22nd. BMO Capital Markets reaffirmed a “hold” rating and set a $49.00 target price on shares of PacWest Bancorp in a research report on Wednesday, December 20th. BidaskClub raised PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Finally, Zacks Investment Research cut PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Ten equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. PacWest Bancorp currently has a consensus rating of “Hold” and an average target price of $53.64.

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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 October 23, 2017, the Bank offered a range of loan and deposit products and services through 83 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 for PacWest Bancorp (NASDAQ:PACW)

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