Analysts Set Expectations for PacWest Bancorp’s FY2017 Earnings (PACW)

PacWest Bancorp (NASDAQ:PACW) – Analysts at B. Riley lifted their FY2017 EPS estimates for PacWest Bancorp in a research note issued to investors on Thursday. B. Riley analyst S. Moss now anticipates that the financial services provider will post earnings per share of $2.95 for the year, up from their previous forecast of $2.94. B. Riley currently has a “Hold” rating and a $50.00 price target on the stock. B. Riley also issued estimates for PacWest Bancorp’s Q4 2017 earnings at $0.72 EPS, Q1 2018 earnings at $0.82 EPS, Q2 2018 earnings at $0.84 EPS, Q3 2018 earnings at $0.89 EPS, Q4 2018 earnings at $0.90 EPS, FY2018 earnings at $3.45 EPS, Q1 2019 earnings at $0.90 EPS, Q2 2019 earnings at $0.92 EPS, Q3 2019 earnings at $0.95 EPS, Q4 2019 earnings at $0.98 EPS and FY2019 earnings at $3.75 EPS.

Several other research firms have also weighed in on PACW. BMO Capital Markets reissued a “hold” rating and issued a $49.00 price objective on shares of PacWest Bancorp in a research report on Wednesday, December 20th. FBR & Co lowered PacWest Bancorp from a “buy” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research report on Wednesday, October 18th. BidaskClub raised PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Raymond James Financial lowered PacWest Bancorp from an “outperform” rating to a “market perform” rating and set a $55.00 price objective for the company. in a research report on Wednesday, November 1st. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $59.00 price objective on shares of PacWest Bancorp in a research report on Friday, December 22nd. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $53.64.

PacWest Bancorp (NASDAQ:PACW) opened at $53.01 on Friday. PacWest Bancorp has a 12-month low of $43.08 and a 12-month high of $57.53. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $6,830.00, a PE ratio of 17.91, a PEG ratio of 1.60 and a beta of 1.59.

PacWest Bancorp (NASDAQ:PACW) last announced its earnings results on Tuesday, October 17th. The financial services provider reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.09. The firm had revenue of $273.07 million for the quarter, compared to the consensus estimate of $281.14 million. PacWest Bancorp had a return on equity of 7.87% and a net margin of 30.80%. During the same period in the previous year, the business earned $0.77 EPS.

PacWest Bancorp announced that its Board of Directors has approved a share repurchase plan on Thursday, November 16th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other news, CFO Patrick J. Rusnak bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The stock was acquired at an average cost of $46.92 per share, with a total value of $93,840.00. Following the transaction, the chief financial officer now directly owns 77,852 shares of the company’s stock, valued at approximately $3,652,815.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.98% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Bank of Nova Scotia bought a new stake in PacWest Bancorp in the 2nd quarter valued at about $1,742,000. Crestline Management LP increased its position in PacWest Bancorp by 1,500.0% in the 3rd quarter. Crestline Management LP now owns 96,000 shares of the financial services provider’s stock valued at $4,849,000 after buying an additional 90,000 shares in the last quarter. AlphaOne Investment Services LLC increased its position in PacWest Bancorp by 6.4% in the 2nd quarter. AlphaOne Investment Services LLC now owns 84,590 shares of the financial services provider’s stock valued at $3,950,000 after buying an additional 5,062 shares in the last quarter. WESPAC Advisors LLC increased its position in PacWest Bancorp by 5.5% in the 3rd quarter. WESPAC Advisors LLC now owns 36,297 shares of the financial services provider’s stock valued at $1,833,000 after buying an additional 1,907 shares in the last quarter. Finally, TIAA FSB bought a new stake in PacWest Bancorp in the 3rd quarter valued at about $674,000. 82.37% of the stock is owned by institutional investors and hedge funds.

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About PacWest Bancorp

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 and Estimates for PacWest Bancorp (NASDAQ:PACW)

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