Q1 2019 EPS Estimates for PacWest Bancorp (PACW) Increased by FIG Partners

PacWest Bancorp (NASDAQ:PACW) – Equities research analysts at FIG Partners increased their Q1 2019 EPS estimates for PacWest Bancorp in a research report issued on Thursday, Zacks Investment Research reports. FIG Partners analyst C. Marinac now expects that the financial services provider will earn $0.92 per share for the quarter, up from their prior estimate of $0.88. FIG Partners also issued estimates for PacWest Bancorp’s Q2 2019 earnings at $0.94 EPS, Q3 2019 earnings at $0.99 EPS, Q4 2019 earnings at $1.01 EPS and FY2019 earnings at $3.85 EPS.

PacWest Bancorp (NASDAQ:PACW) last posted its earnings results on Thursday, January 18th. The financial services provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). PacWest Bancorp had a return on equity of 7.65% and a net margin of 30.12%. The business had revenue of $289.75 million for the quarter, compared to analyst estimates of $297.74 million. During the same quarter in the prior year, the business earned $0.71 earnings per share.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of PacWest Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday. B. Riley restated a “neutral” rating and set a $55.00 price target (up previously from $52.00) on shares of PacWest Bancorp in a report on Monday, January 22nd. BidaskClub lowered shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. BMO Capital Markets raised their price target on shares of PacWest Bancorp to $56.00 and gave the stock a “market perform” rating in a report on Friday, January 19th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $54.00 price target on shares of PacWest Bancorp in a report on Thursday, October 19th. Ten analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. PacWest Bancorp has an average rating of “Hold” and a consensus target price of $55.18.

Shares of PacWest Bancorp (NASDAQ PACW) opened at $54.05 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.19. PacWest Bancorp has a 1 year low of $43.08 and a 1 year high of $57.53. The company has a market cap of $6,735.35, a P/E ratio of 18.51, a P/E/G ratio of 1.51 and a beta of 1.52.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, February 16th. This represents a $2.00 dividend on an annualized basis and a yield of 3.70%. PacWest Bancorp’s dividend payout ratio (DPR) is presently 68.49%.

PacWest Bancorp declared that its Board of Directors has authorized a share buyback program on Thursday, November 16th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

In other PacWest Bancorp news, Director Daniel B. Platt sold 7,000 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $53.61, for a total transaction of $375,270.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.98% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of PACW. Janus Henderson Group PLC purchased a new position in PacWest Bancorp during the 2nd quarter worth $108,636,000. Koch Industries Inc. boosted its holdings in PacWest Bancorp by 30,853.3% during the 2nd quarter. Koch Industries Inc. now owns 1,341,514 shares of the financial services provider’s stock worth $1,313,000 after acquiring an additional 1,337,180 shares during the last quarter. Millennium Management LLC boosted its holdings in PacWest Bancorp by 66.5% during the 4th quarter. Millennium Management LLC now owns 2,747,060 shares of the financial services provider’s stock worth $138,452,000 after acquiring an additional 1,097,347 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in PacWest Bancorp during the 4th quarter worth $54,331,000. Finally, State Street Corp boosted its holdings in PacWest Bancorp by 15.0% during the 2nd quarter. State Street Corp now owns 5,909,084 shares of the financial services provider’s stock worth $275,951,000 after acquiring an additional 771,015 shares during the last quarter. 82.27% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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Earnings History and Estimates for PacWest Bancorp (NASDAQ:PACW)

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