PacWest Bancorp (NASDAQ:PACW) – Research analysts at Piper Jaffray Companies boosted their FY2018 EPS estimates for shares of PacWest Bancorp in a research report issued on Wednesday, October 17th. Piper Jaffray Companies analyst B. Rabatin now expects that the financial services provider will earn $3.75 per share for the year, up from their previous forecast of $3.72. Piper Jaffray Companies also issued estimates for PacWest Bancorp’s Q4 2018 earnings at $0.96 EPS.

PacWest Bancorp (NASDAQ:PACW) last announced its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. The firm had revenue of $297.23 million for the quarter, compared to analyst estimates of $301.52 million. PacWest Bancorp had a return on equity of 8.95% and a net margin of 33.60%. During the same period last year, the company earned $0.84 EPS.

A number of other research analysts have also commented on PACW. Sandler O’Neill reiterated a “buy” rating and issued a $59.00 price objective on shares of PacWest Bancorp in a research report on Monday, June 25th. BidaskClub lowered PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Stephens reiterated a “buy” rating and issued a $58.00 price objective on shares of PacWest Bancorp in a research report on Friday, July 13th. Wedbush reiterated a “neutral” rating on shares of PacWest Bancorp in a research report on Monday, July 16th. Finally, Zacks Investment Research upgraded PacWest Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Thursday, July 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $54.82.

Shares of PACW opened at $43.71 on Friday. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.19 and a beta of 1.41. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.95 and a current ratio of 0.97. PacWest Bancorp has a 52 week low of $43.28 and a 52 week high of $55.86.

In related news, Director Tanya M. Acker purchased 1,000 shares of PacWest Bancorp stock in a transaction dated Friday, September 14th. The shares were acquired at an average cost of $50.26 per share, for a total transaction of $50,260.00. Following the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at $196,014. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.01% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of PACW. UBS Group AG boosted its position in shares of PacWest Bancorp by 104.1% in the 1st quarter. UBS Group AG now owns 200,363 shares of the financial services provider’s stock worth $9,924,000 after purchasing an additional 102,177 shares during the last quarter. LPL Financial LLC boosted its position in shares of PacWest Bancorp by 28.4% in the 1st quarter. LPL Financial LLC now owns 8,346 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 1,847 shares during the last quarter. Guggenheim Capital LLC boosted its position in shares of PacWest Bancorp by 11.6% in the 1st quarter. Guggenheim Capital LLC now owns 200,067 shares of the financial services provider’s stock worth $9,909,000 after purchasing an additional 20,844 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of PacWest Bancorp in the 1st quarter worth $701,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of PacWest Bancorp in the 1st quarter worth $1,996,000. Institutional investors and hedge funds own 87.35% of the company’s stock.

About PacWest Bancorp

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.

Further Reading: Retained Earnings

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

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