PacWest Bancorp (PACW) To Go Ex-Dividend on November 17th
PacWest Bancorp (NASDAQ:PACW) announced a quarterly dividend on Wednesday, November 1st, NASDAQ reports. Investors of record on Monday, November 20th will be given a dividend of 0.50 per share by the financial services provider on Thursday, November 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend is Friday, November 17th.
Shares of PacWest Bancorp (NASDAQ:PACW) opened at $44.59 on Thursday. PacWest Bancorp has a fifty-two week low of $43.08 and a fifty-two week high of $57.53. The stock has a market capitalization of $5,794.37, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.52 and a beta of 1.60. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15.
PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.09. The business had revenue of $273.07 million during the quarter, compared to the consensus estimate of $281.14 million. PacWest Bancorp had a return on equity of 7.87% and a net margin of 30.80%. During the same period last year, the company earned $0.77 earnings per share. sell-side analysts predict that PacWest Bancorp will post 2.96 EPS for the current fiscal year.
A number of analysts have recently issued reports on PACW shares. Raymond James Financial, Inc. cut PacWest Bancorp from an “outperform” rating to a “market perform” rating and set a $55.00 price objective for the company. in a research report on Wednesday, November 1st. UBS AG lowered PacWest Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. Zacks Investment Research upgraded PacWest Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 20th. Piper Jaffray Companies reiterated a “buy” rating and issued a $54.00 price target on shares of PacWest Bancorp in a research note on Thursday, October 19th. Finally, BMO Capital Markets decreased their price target on PacWest Bancorp from $49.00 to $48.00 and set a “market perform” rating on the stock in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $53.00.
In other PacWest Bancorp news, CFO Patrick J. Rusnak acquired 2,000 shares of the company’s stock in a transaction dated Thursday, October 19th. The shares were bought at an average cost of $46.92 per share, with a total value of $93,840.00. Following the purchase, the chief financial officer now directly owns 77,852 shares of the company’s stock, valued at $3,652,815.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.98% of the stock is owned by insiders.
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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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