PacWest Bancorp (NASDAQ:PACW) declared a quarterly dividend on Thursday, August 1st, NASDAQ reports. Shareholders of record on Tuesday, August 20th will be given a dividend of 0.60 per share by the financial services provider on Friday, August 30th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 7.14%. The ex-dividend date of this dividend is Monday, August 19th.
PacWest Bancorp has raised its dividend payment by an average of 4.8% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. PacWest Bancorp has a payout ratio of 64.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PacWest Bancorp to earn $3.80 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 63.2%.
PacWest Bancorp stock opened at $33.61 on Friday. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 0.86 and a beta of 1.45. PacWest Bancorp has a 52-week low of $31.16 and a 52-week high of $51.88. The stock’s 50 day moving average price is $37.01 and its two-hundred day moving average price is $38.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.96 and a current ratio of 0.99.
A number of research firms have issued reports on PACW. ValuEngine cut PacWest Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 16th. Raymond James cut PacWest Bancorp from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 8th. Zacks Investment Research cut PacWest Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Stephens reiterated a “buy” rating and issued a $43.00 target price on shares of PacWest Bancorp in a report on Tuesday, July 16th. Finally, BidaskClub cut PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. PacWest Bancorp currently has a consensus rating of “Hold” and an average price target of $43.00.
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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