Equities research analysts expect that PacWest Bancorp (NASDAQ:PACW) will post $281.14 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for PacWest Bancorp’s earnings. The lowest sales estimate is $277.50 million and the highest is $284.40 million. PacWest Bancorp reported sales of $261.56 million in the same quarter last year, which indicates a positive year over year growth rate of 7.5%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, October 17th.

According to Zacks, analysts expect that PacWest Bancorp will report full year sales of $281.14 million for the current financial year, with estimates ranging from $1.13 billion to $1.15 billion. For the next fiscal year, analysts expect that the business will report sales of $1.30 billion per share, with estimates ranging from $1.27 billion to $1.34 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow PacWest Bancorp.

PacWest Bancorp (NASDAQ:PACW) last announced its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.06. The business had revenue of $277.76 million during the quarter, compared to analyst estimates of $272.57 million. PacWest Bancorp had a net margin of 30.61% and a return on equity of 7.73%. During the same quarter in the previous year, the business posted $0.68 EPS.

PACW has been the subject of several recent research reports. BMO Capital Markets reissued a “hold” rating and set a $55.00 price objective on shares of PacWest Bancorp in a research report on Friday, May 26th. ValuEngine lowered PacWest Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research lowered PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, June 8th. BidaskClub lowered PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Wedbush reissued a “neutral” rating and set a $49.00 price objective on shares of PacWest Bancorp in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $54.73.

Shares of PacWest Bancorp (PACW) opened at 45.68 on Monday. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 15.77 and a beta of 1.59. PacWest Bancorp has a 52 week low of $41.10 and a 52 week high of $57.53. The firm’s 50-day moving average is $45.79 and its 200-day moving average is $48.81.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Monday, August 21st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $2.00 annualized dividend and a dividend yield of 4.38%. PacWest Bancorp’s payout ratio is presently 68.97%.

Several large investors have recently modified their holdings of PACW. Canada Pension Plan Investment Board increased its holdings in shares of PacWest Bancorp by 167.6% during the first quarter. Canada Pension Plan Investment Board now owns 9,100 shares of the financial services provider’s stock valued at $485,000 after acquiring an additional 5,700 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of PacWest Bancorp by 3.7% during the first quarter. Great West Life Assurance Co. Can now owns 70,685 shares of the financial services provider’s stock valued at $3,762,000 after acquiring an additional 2,540 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of PacWest Bancorp by 0.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 125,060 shares of the financial services provider’s stock valued at $6,661,000 after acquiring an additional 629 shares in the last quarter. Swiss National Bank increased its holdings in shares of PacWest Bancorp by 0.4% during the first quarter. Swiss National Bank now owns 188,760 shares of the financial services provider’s stock valued at $10,053,000 after acquiring an additional 800 shares in the last quarter. Finally, World Asset Management Inc increased its holdings in shares of PacWest Bancorp by 1.6% during the first quarter. World Asset Management Inc now owns 7,432 shares of the financial services provider’s stock valued at $396,000 after acquiring an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

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

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