Equities research analysts expect PacWest Bancorp (NASDAQ:PACW – Get Rating) to report sales of $348.87 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for PacWest Bancorp’s earnings, with the highest sales estimate coming in at $352.60 million and the lowest estimate coming in at $347.00 million. PacWest Bancorp posted sales of $306.68 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13.8%. The business is expected to announce its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that PacWest Bancorp will report full year sales of $1.41 billion for the current year, with estimates ranging from $1.40 billion to $1.42 billion. For the next financial year, analysts expect that the company will post sales of $1.56 billion, with estimates ranging from $1.54 billion to $1.59 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover PacWest Bancorp.
PacWest Bancorp (NASDAQ:PACW – Get Rating) last announced its quarterly earnings data on Tuesday, April 19th. The financial services provider reported $1.01 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.04). PacWest Bancorp had a net margin of 41.84% and a return on equity of 14.96%. The business had revenue of $329.54 million for the quarter, compared to analyst estimates of $342.21 million. During the same quarter in the previous year, the firm posted $1.27 earnings per share.
Several institutional investors and hedge funds have recently modified their holdings of PACW. Vanguard Group Inc. increased its stake in shares of PacWest Bancorp by 2.5% during the first quarter. Vanguard Group Inc. now owns 13,722,556 shares of the financial services provider’s stock worth $591,854,000 after buying an additional 336,055 shares during the period. BlackRock Inc. increased its stake in shares of PacWest Bancorp by 0.8% during the first quarter. BlackRock Inc. now owns 9,989,212 shares of the financial services provider’s stock worth $430,835,000 after buying an additional 80,182 shares during the period. State Street Corp increased its stake in shares of PacWest Bancorp by 2.2% during the first quarter. State Street Corp now owns 5,630,663 shares of the financial services provider’s stock worth $242,850,000 after buying an additional 122,587 shares during the period. Invesco Ltd. increased its stake in shares of PacWest Bancorp by 354.9% during the first quarter. Invesco Ltd. now owns 3,082,898 shares of the financial services provider’s stock worth $132,965,000 after buying an additional 2,405,127 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of PacWest Bancorp by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,055,873 shares of the financial services provider’s stock worth $131,809,000 after buying an additional 78,424 shares during the period. 88.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ PACW opened at $32.44 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51. PacWest Bancorp has a 12 month low of $28.77 and a 12 month high of $51.81. The company has a 50 day simple moving average of $35.23 and a two-hundred day simple moving average of $42.75. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 6.70 and a beta of 1.42.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 31st. Stockholders of record on Monday, May 16th were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 13th. This represents a $1.00 annualized dividend and a dividend yield of 3.08%. PacWest Bancorp’s dividend payout ratio is presently 20.66%.
About PacWest Bancorp (Get Rating)
PacWest Bancorp operates as the bank holding company for Pacific Western Bank that provides various 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, renovation, and construction of commercial real estate properties; small business administration loans; asset-based loans for working capital needs; venture capital loans to support the operations of entrepreneurial and venture-backed companies; and equipment-secured loans and leases.
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