PacWest Bancorp (NASDAQ:PACW) – Research analysts at Wedbush increased their Q3 2017 earnings per share estimates for shares of PacWest Bancorp in a research note issued on Tuesday. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings per share of $0.75 for the quarter, up from their prior estimate of $0.73. Wedbush currently has a “Neutral” rating and a $49.00 price target on the stock. Wedbush also issued estimates for PacWest Bancorp’s Q4 2017 earnings at $0.76 EPS, FY2017 earnings at $2.93 EPS, Q1 2018 earnings at $0.79 EPS, Q2 2018 earnings at $0.82 EPS and FY2018 earnings at $3.30 EPS.
PacWest Bancorp (NASDAQ:PACW) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $272.57 million. During the same quarter last year, the company posted $0.68 earnings per share. TRADEMARK VIOLATION WARNING: This piece was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://sportsperspectives.com/2017/07/21/analysts-offer-predictions-for-pacwest-bancorps-q3-2017-earnings-nasdaqpacw.html.
Other analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods reissued a “buy” rating and set a $55.00 target price on shares of PacWest Bancorp in a research report on Thursday, May 18th. Zacks Investment Research raised shares of PacWest Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, March 23rd. ValuEngine raised shares of PacWest Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Stephens reissued a “buy” rating and set a $56.00 target price on shares of PacWest Bancorp in a research report on Friday, July 14th. Finally, FBR & Co set a $55.00 target price on shares of PacWest Bancorp and gave the stock a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company’s stock. PacWest Bancorp currently has a consensus rating of “Buy” and an average target price of $55.60.
Shares of PacWest Bancorp (PACW) opened at 48.73 on Wednesday. The stock has a market cap of $5.77 billion, a PE ratio of 17.40 and a beta of 1.58. PacWest Bancorp has a one year low of $40.01 and a one year high of $57.53. The company has a 50-day moving average of $47.23 and a 200 day moving average of $51.34.
In other news, Director Craig A. Carlson sold 1,081 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $47.16, for a total value of $50,979.96. Following the sale, the director now directly owns 6,273 shares of the company’s stock, valued at approximately $295,834.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.98% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the company. Charter Trust Co. increased its stake in shares of PacWest Bancorp by 0.8% in the second quarter. Charter Trust Co. now owns 4,757 shares of the financial services provider’s stock worth $222,000 after buying an additional 38 shares during the period. Chesley Taft & Associates LLC increased its stake in shares of PacWest Bancorp by 0.6% in the first quarter. Chesley Taft & Associates LLC now owns 17,825 shares of the financial services provider’s stock worth $949,000 after buying an additional 100 shares during the period. Tudor Investment Corp ET AL increased its stake in shares of PacWest Bancorp by 0.5% in the first quarter. Tudor Investment Corp ET AL now owns 20,370 shares of the financial services provider’s stock worth $1,085,000 after buying an additional 101 shares during the period. World Asset Management Inc increased its stake in shares of PacWest Bancorp by 1.6% in the first quarter. World Asset Management Inc now owns 7,432 shares of the financial services provider’s stock worth $396,000 after buying an additional 118 shares during the period. Finally, Denver Investment Advisors LLC increased its stake in shares of PacWest Bancorp by 0.5% in the first quarter. Denver Investment Advisors LLC now owns 38,343 shares of the financial services provider’s stock worth $2,042,000 after buying an additional 181 shares during the period. 88.25% of the stock is currently owned by hedge funds and other institutional investors.
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 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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