PacWest Bancorp (PACW) to Post Q2 2019 Earnings of $0.93 Per Share, SunTrust Banks Forecasts

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PacWest Bancorp (NASDAQ:PACW) – Stock analysts at SunTrust Banks boosted their Q2 2019 EPS estimates for shares of PacWest Bancorp in a research report issued on Tuesday, April 16th. SunTrust Banks analyst M. Young now expects that the financial services provider will post earnings of $0.93 per share for the quarter, up from their previous estimate of $0.89. SunTrust Banks also issued estimates for PacWest Bancorp’s Q3 2019 earnings at $0.96 EPS, Q4 2019 earnings at $0.98 EPS and Q2 2020 earnings at $0.97 EPS.

PACW has been the subject of several other research reports. BMO Capital Markets raised their target price on PacWest Bancorp to $38.00 in a research report on Tuesday, January 22nd. Zacks Investment Research raised PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. BidaskClub raised PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 11th. Raymond James set a $46.00 price objective on PacWest Bancorp and gave the company a “hold” rating in a research report on Friday, January 18th. Finally, Stephens reissued a “buy” rating and set a $43.00 price objective on shares of PacWest Bancorp in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $46.11.

Shares of PacWest Bancorp stock opened at $39.87 on Thursday. The firm has a market capitalization of $4.71 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 1.04 and a beta of 1.53. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.38. PacWest Bancorp has a 12 month low of $31.16 and a 12 month high of $55.86.

PacWest Bancorp (NASDAQ:PACW) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.01. The business had revenue of $285.94 million during the quarter, compared to analysts’ expectations of $291.86 million. PacWest Bancorp had a return on equity of 9.64% and a net margin of 35.33%. During the same quarter last year, the firm posted $0.93 earnings per share.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors increased its stake in PacWest Bancorp by 43.0% during the fourth quarter. Captrust Financial Advisors now owns 2,868 shares of the financial services provider’s stock valued at $95,000 after acquiring an additional 863 shares during the period. Walthausen & Co. LLC bought a new position in PacWest Bancorp during the fourth quarter valued at about $4,904,000. Prudential PLC increased its stake in PacWest Bancorp by 18.2% during the fourth quarter. Prudential PLC now owns 37,100 shares of the financial services provider’s stock valued at $1,235,000 after acquiring an additional 5,700 shares during the period. Jane Street Group LLC bought a new position in PacWest Bancorp during the third quarter valued at about $336,000. Finally, Financial Advocates Investment Management increased its stake in PacWest Bancorp by 973.5% during the fourth quarter. Financial Advocates Investment Management now owns 6,108 shares of the financial services provider’s stock valued at $468,000 after acquiring an additional 5,539 shares during the period. Institutional investors own 93.12% of the company’s stock.

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

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