Somewhat Positive News Coverage Somewhat Unlikely to Affect PacWest Bancorp (PACW) Share Price
Headlines about PacWest Bancorp (NASDAQ:PACW) have been trending somewhat positive this week, Accern Sentiment reports. The research group scores the sentiment of press coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. PacWest Bancorp earned a media sentiment score of 0.19 on Accern’s scale. Accern also assigned media headlines about the financial services provider an impact score of 47.9831054123809 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the news stories that may have impacted Accern’s rankings:
- FY2018 EPS Estimates for PacWest Bancorp Decreased by Analyst (PACW) (americanbankingnews.com)
- PacWest Bancorp (PACW) to Post Q1 2018 Earnings of $0.69 Per Share, SunTrust Banks Forecasts (americanbankingnews.com)
- FIG Partners Analysts Lift Earnings Estimates for PacWest Bancorp (PACW) (americanbankingnews.com)
- DA Davidson Brokers Boost Earnings Estimates for PacWest Bancorp (PACW) (americanbankingnews.com)
- PacWest Bancorp (PACW) Earns “Hold” Rating from B. Riley (americanbankingnews.com)
Several research analysts have issued reports on PACW shares. UBS cut shares of PacWest Bancorp from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, October 17th. FBR & Co cut shares of PacWest Bancorp from a “buy” rating to a “neutral” rating and set a $50.00 target price for the company. in a report on Wednesday, October 18th. Raymond James Financial cut shares of PacWest Bancorp from an “outperform” rating to a “market perform” rating and set a $55.00 target price for the company. in a report on Wednesday, November 1st. DA Davidson raised shares of PacWest Bancorp from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a report on Thursday, September 7th. Finally, ValuEngine cut shares of PacWest Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $52.73.
PacWest Bancorp (NASDAQ PACW) traded down $1.05 on Thursday, hitting $47.00. 850,461 shares of the stock traded hands, compared to its average volume of 839,479. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93. PacWest Bancorp has a 1 year low of $43.08 and a 1 year high of $57.53. The stock has a market capitalization of $6,272.72, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.64 and a beta of 1.59.
PacWest Bancorp (NASDAQ:PACW) last released its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. PacWest Bancorp had a net margin of 30.80% and a return on equity of 7.87%. The firm had revenue of $273.07 million during the quarter, compared to analysts’ expectations of $281.14 million. During the same period in the previous year, the company earned $0.77 earnings per share. equities analysts predict that PacWest Bancorp will post 2.97 earnings per share for the current year.
PacWest Bancorp declared that its board has authorized a stock repurchase plan on Thursday, November 16th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Monday, November 20th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, November 17th. This represents a $2.00 annualized dividend and a dividend yield of 4.26%. PacWest Bancorp’s payout ratio is 67.34%.
In related news, CFO Patrick J. Rusnak acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was purchased at an average cost of $46.92 per share, with a total value of $93,840.00. Following the completion of the acquisition, the chief financial officer now directly owns 77,852 shares of the company’s stock, valued at $3,652,815.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.98% of the stock is owned by insiders.
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About PacWest Bancorp
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 October 23, 2017, the Bank offered a range of loan and deposit products and services through 83 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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