Brokerages predict that PacWest Bancorp (NASDAQ:PACW) will announce sales of $301.80 million for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for PacWest Bancorp’s earnings, with estimates ranging from $298.00 million to $305.60 million. PacWest Bancorp reported sales of $273.07 million in the same quarter last year, which would suggest a positive year over year growth rate of 10.5%. The business is scheduled to issue its next earnings results on Tuesday, October 16th.

According to Zacks, analysts expect that PacWest Bancorp will report full-year sales of $1.20 billion for the current financial year, with estimates ranging from $1.17 billion to $1.22 billion. For the next fiscal year, analysts expect that the company will post sales of $1.34 billion per share, with estimates ranging from $1.32 billion to $1.36 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover PacWest Bancorp.

PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.87 by $0.05. The company had revenue of $301.97 million during the quarter, compared to analysts’ expectations of $293.62 million. PacWest Bancorp had a net margin of 33.41% and a return on equity of 8.70%. During the same quarter in the previous year, the company earned $0.77 earnings per share.

PACW has been the subject of several recent analyst reports. BidaskClub cut shares of PacWest Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 29th. Zacks Investment Research cut shares of PacWest Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 4th. Stephens reaffirmed a “buy” rating and set a $58.00 price objective on shares of PacWest Bancorp in a research note on Friday, July 13th. Sandler O’Neill reaffirmed a “buy” rating and set a $58.00 price objective on shares of PacWest Bancorp in a research note on Friday, July 20th. Finally, Wedbush reaffirmed a “neutral” rating on shares of PacWest Bancorp in a research note on Monday, July 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $55.82.

In related news, Director Tanya M. Acker purchased 1,000 shares of the business’s stock in a transaction on Friday, September 14th. The stock was acquired at an average price of $50.26 per share, with a total value of $50,260.00. Following the purchase, the director now directly owns 3,900 shares in the company, valued at $196,014. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.01% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Hong Kong Ltd purchased a new position in PacWest Bancorp in the 1st quarter worth approximately $139,000. Qube Research & Technologies Ltd purchased a new position in PacWest Bancorp in the 2nd quarter worth approximately $158,000. ARP Americas LP purchased a new position in PacWest Bancorp in the 2nd quarter worth approximately $217,000. NumerixS Investment Technologies Inc purchased a new position in PacWest Bancorp in the 2nd quarter worth approximately $235,000. Finally, Summit X LLC purchased a new position in PacWest Bancorp in the 2nd quarter worth approximately $238,000. 87.42% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:PACW opened at $50.75 on Friday. The company has a market cap of $6.21 billion, a P/E ratio of 17.38, a PEG ratio of 1.36 and a beta of 1.40. PacWest Bancorp has a 12 month low of $43.61 and a 12 month high of $55.86. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.95 and a quick ratio of 0.95.

The business also recently declared a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Monday, August 20th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, August 17th. This represents a $2.40 dividend on an annualized basis and a yield of 4.73%. PacWest Bancorp’s dividend payout ratio is presently 82.19%.

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: Earnings Per Share

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

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