PacWest Bancorp (NASDAQ:PACW) Issues Earnings Results

PacWest Bancorp (NASDAQ:PACW) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.25), reports. PacWest Bancorp had a positive return on equity of 7.15% and a negative net margin of 90.52%. During the same period in the prior year, the firm posted $1.07 EPS.

PACW traded down $0.55 during midday trading on Thursday, hitting $18.19. The company had a trading volume of 936 shares, compared to its average volume of 1,335,927. PacWest Bancorp has a 52 week low of $13.84 and a 52 week high of $40.14. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -1.81 and a beta of 1.60. The stock’s 50 day moving average price is $18.28 and its 200 day moving average price is $18.57.

A number of brokerages recently issued reports on PACW. Raymond James raised shares of PacWest Bancorp from a “market perform” rating to a “strong-buy” rating and set a $26.00 price objective on the stock in a research note on Wednesday, June 17th. ValuEngine cut shares of PacWest Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. Finally, BidaskClub raised shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.20.

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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Earnings History for PacWest Bancorp (NASDAQ:PACW)

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