Zacks: Analysts Expect PacWest Banc (PACW) to Announce $0.88 Earnings Per Share

Brokerages expect PacWest Banc (NASDAQ:PACW) to report $0.88 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for PacWest Banc’s earnings, with estimates ranging from $0.86 to $0.92. PacWest Banc reported earnings per share of $0.77 during the same quarter last year, which would suggest a positive year over year growth rate of 14.3%. The firm is scheduled to announce its next earnings report on Tuesday, July 17th.

According to Zacks, analysts expect that PacWest Banc will report full year earnings of $3.68 per share for the current year, with EPS estimates ranging from $3.60 to $3.75. For the next year, analysts expect that the firm will post earnings of $3.98 per share, with EPS estimates ranging from $3.85 to $4.25. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow PacWest Banc.

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PacWest Banc (NASDAQ:PACW) last released its earnings results on Tuesday, April 17th. The financial services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.13. PacWest Banc had a net margin of 32.53% and a return on equity of 8.34%. The firm had revenue of $295.06 million during the quarter, compared to analyst estimates of $288.49 million. During the same quarter in the previous year, the firm earned $0.65 earnings per share.



Several research firms have weighed in on PACW. BidaskClub upgraded shares of PacWest Banc from a “sell” rating to a “hold” rating in a research note on Tuesday. B. Riley reissued a “neutral” rating and set a $55.00 price target (up previously from $52.00) on shares of PacWest Banc in a report on Monday, January 22nd. Zacks Investment Research raised shares of PacWest Banc from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Wednesday, March 28th. Raymond James raised shares of PacWest Banc from a “market perform” rating to a “strong-buy” rating in a report on Tuesday, April 10th. Finally, UBS raised shares of PacWest Banc from a “market perform” rating to a “strong-buy” rating in a report on Tuesday, April 10th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $54.73.

PACW stock traded down $0.16 during trading on Tuesday, hitting $51.91. 738,244 shares of the company’s stock traded hands, compared to its average volume of 845,052. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.92 and a quick ratio of 0.90. PacWest Banc has a 52 week low of $43.08 and a 52 week high of $54.86. The firm has a market cap of $6,380.35, a price-to-earnings ratio of 17.78, a PEG ratio of 1.39 and a beta of 1.45.

PacWest Banc declared that its Board of Directors has initiated a stock repurchase plan on Friday, February 16th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Institutional investors and hedge funds have recently made changes to their positions in the company. SWS Partners acquired a new position in shares of PacWest Banc during the fourth quarter valued at $110,000. Captrust Financial Advisors acquired a new stake in PacWest Banc in the fourth quarter worth about $111,000. Steward Partners Investment Advisory LLC acquired a new stake in PacWest Banc in the third quarter worth about $122,000. Cerebellum GP LLC acquired a new stake in PacWest Banc in the fourth quarter worth about $135,000. Finally, Bessemer Group Inc. acquired a new stake in PacWest Banc in the fourth quarter worth about $144,000. 88.44% of the stock is owned by institutional investors.

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PacWest Banc 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 and Estimates for PacWest Banc (NASDAQ:PACW)

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