Wall Street analysts expect that PacWest Bancorp (NASDAQ:PACW) will report sales of $297.61 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for PacWest Bancorp’s earnings. The highest sales estimate is $301.00 million and the lowest is $294.10 million. PacWest Bancorp posted sales of $289.75 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.7%. The firm is expected to issue its next earnings results on Thursday, January 17th.
On average, analysts expect that PacWest Bancorp will report full year sales of $1.18 billion for the current fiscal year, with estimates ranging from $1.16 billion to $1.20 billion. For the next fiscal year, analysts expect that the business will report sales of $1.30 billion, with estimates ranging from $1.28 billion to $1.32 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow PacWest Bancorp.
PacWest Bancorp (NASDAQ:PACW) last announced its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. The company had revenue of $297.23 million during the quarter, compared to the consensus estimate of $301.52 million. PacWest Bancorp had a return on equity of 8.95% and a net margin of 33.60%. During the same period in the previous year, the company posted $0.84 EPS.
Shares of NASDAQ:PACW traded up $0.78 during mid-day trading on Friday, reaching $40.24. 2,080,230 shares of the company traded hands, compared to its average volume of 987,840. The company has a market cap of $4.81 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.07 and a beta of 1.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. PacWest Bancorp has a 52 week low of $37.65 and a 52 week high of $55.86.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Tuesday, November 20th were issued a $0.60 dividend. The ex-dividend date was Monday, November 19th. This represents a $2.40 dividend on an annualized basis and a yield of 5.96%. PacWest Bancorp’s dividend payout ratio is presently 82.19%.
In other PacWest Bancorp news, insider James Pieczynski purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, November 28th. The shares were bought at an average cost of $39.72 per share, with a total value of $397,200.00. Following the acquisition, the insider now owns 47,497 shares in the company, valued at $1,886,580.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tanya M. Acker purchased 1,000 shares of the stock in a transaction that occurred on Friday, September 14th. The stock was acquired at an average cost of $50.26 per share, for a total transaction of $50,260.00. Following the completion of the acquisition, the director now owns 3,900 shares in the company, valued at approximately $196,014. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 41,925 shares of company stock worth $1,676,044. 1.01% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PACW. Qube Research & Technologies Ltd purchased a new stake in shares of PacWest Bancorp during the 2nd quarter worth approximately $158,000. Creative Planning purchased a new stake in shares of PacWest Bancorp during the 3rd quarter worth approximately $200,000. GAM Holding AG purchased a new stake in shares of PacWest Bancorp during the 3rd quarter worth approximately $208,000. ARP Americas LP purchased a new stake in shares of PacWest Bancorp during the 2nd quarter worth approximately $217,000. Finally, Laurion Capital Management LP purchased a new stake in shares of PacWest Bancorp during the 3rd quarter worth approximately $226,000. 89.69% of the stock is currently owned by institutional investors.
About PacWest Bancorp
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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