PacWest Bancorp (NASDAQ:PACW) – Research analysts at Wedbush lowered their FY2020 EPS estimates for shares of PacWest Bancorp in a report released on Tuesday, April 16th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings per share of $3.85 for the year, down from their prior forecast of $3.96.
PacWest Bancorp (NASDAQ:PACW) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.01. PacWest Bancorp had a return on equity of 9.64% and a net margin of 35.33%. The company had revenue of $285.94 million for the quarter, compared to analyst estimates of $291.86 million. During the same quarter last year, the company earned $0.93 earnings per share.
PACW stock opened at $39.87 on Thursday. PacWest Bancorp has a twelve month low of $31.16 and a twelve month high of $55.86. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $4.71 billion, a PE ratio of 10.72, a P/E/G ratio of 1.04 and a beta of 1.53.
Several institutional investors and hedge funds have recently modified their holdings of PACW. Enlightenment Research LLC purchased a new stake in shares of PacWest Bancorp during the fourth quarter valued at approximately $27,000. First Hawaiian Bank increased its position in PacWest Bancorp by 128.5% in the first quarter. First Hawaiian Bank now owns 786 shares of the financial services provider’s stock worth $30,000 after buying an additional 442 shares during the last quarter. JOYN Advisors Inc. increased its position in PacWest Bancorp by 439.6% in the fourth quarter. JOYN Advisors Inc. now owns 1,511 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,231 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in PacWest Bancorp by 3,228.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,692,721 shares of the financial services provider’s stock worth $51,000 after buying an additional 1,641,858 shares during the last quarter. Finally, Lindbrook Capital LLC purchased a new stake in PacWest Bancorp in the fourth quarter worth $52,000. 93.12% of the stock is owned by institutional investors.
PacWest Bancorp Company Profile
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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