PacWest Bancorp (NASDAQ:PACW) – Equities research analysts at FBR & Co lowered their FY2017 EPS estimates for PacWest Bancorp in a report released on Tuesday. FBR & Co analyst S. Moss now anticipates that the financial services provider will earn $2.89 per share for the year, down from their previous forecast of $2.95. FBR & Co has a “Buy” rating and a $55.00 price objective on the stock. FBR & Co also issued estimates for PacWest Bancorp’s Q4 2017 earnings at $0.73 EPS, Q2 2018 earnings at $0.83 EPS, Q3 2018 earnings at $0.85 EPS, Q4 2018 earnings at $0.86 EPS and FY2018 earnings at $3.35 EPS.
PacWest Bancorp (NASDAQ:PACW) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.71 by $0.06. The firm had revenue of $277.76 million for the quarter, compared to analyst estimates of $272.57 million. PacWest Bancorp had a return on equity of 7.73% and a net margin of 30.61%. During the same period in the previous year, the company posted $0.68 EPS. TRADEMARK VIOLATION NOTICE: “FBR & Co Weighs in on PacWest Bancorp’s FY2017 Earnings (PACW)” was first reported by Stock Observer and is the property of of Stock Observer. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.thestockobserver.com/2017/10/13/fbr-co-weighs-in-on-pacwest-bancorps-fy2017-earnings-pacw.html.
A number of other analysts have also issued reports on PACW. BidaskClub lowered PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Wedbush reiterated a “neutral” rating and issued a $49.00 price objective on shares of PacWest Bancorp in a research report on Tuesday, June 27th. ValuEngine upgraded PacWest Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Stephens reiterated a “buy” rating and issued a $56.00 price objective on shares of PacWest Bancorp in a research report on Friday, July 14th. Finally, Zacks Investment Research upgraded PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $54.50.
PacWest Bancorp (PACW) opened at 48.62 on Thursday. The company’s 50-day moving average price is $47.16 and its 200 day moving average price is $48.03. PacWest Bancorp has a 52-week low of $41.10 and a 52-week high of $57.53. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of 16.79 and a beta of 1.62.
Institutional investors have recently bought and sold shares of the stock. Ffcm LLC lifted its position in shares of PacWest Bancorp by 172.7% during the 2nd quarter. Ffcm LLC now owns 2,394 shares of the financial services provider’s stock worth $114,000 after buying an additional 1,516 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PacWest Bancorp by 12.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,132 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 468 shares in the last quarter. Creative Planning increased its holdings in PacWest Bancorp by 17.3% during the 2nd quarter. Creative Planning now owns 4,157 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 613 shares in the last quarter. Charter Trust Co. increased its holdings in PacWest Bancorp by 0.8% during the 2nd quarter. Charter Trust Co. now owns 4,757 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 38 shares in the last quarter. Finally, Investment Counselors of Maryland LLC increased its holdings in PacWest Bancorp by 4.1% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 4,806 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.
PacWest Bancorp Company Profile
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 December 31, 2016, the Bank offered a range of loan and deposit products and services through 77 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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