Piper Sandler Weighs in on PacWest Bancorp’s Q4 2020 Earnings (NASDAQ:PACW)


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PacWest Bancorp (NASDAQ:PACW) – Piper Sandler issued their Q4 2020 earnings estimates for shares of PacWest Bancorp in a research note issued on Tuesday, January 12th. Piper Sandler analyst M. Clark anticipates that the financial services provider will earn $0.66 per share for the quarter. Piper Sandler also issued estimates for PacWest Bancorp’s Q1 2021 earnings at $0.77 EPS, Q2 2021 earnings at $0.74 EPS, Q3 2021 earnings at $0.75 EPS, Q4 2021 earnings at $0.76 EPS and FY2021 earnings at $3.03 EPS.

PacWest Bancorp (NASDAQ:PACW) last posted its earnings results on Monday, October 19th. The financial services provider reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.25). The business had revenue of $289.58 million during the quarter, compared to the consensus estimate of $284.53 million. PacWest Bancorp had a negative net margin of 98.27% and a positive return on equity of 5.96%. During the same period in the previous year, the firm earned $1.07 EPS.

PACW has been the topic of several other reports. BidaskClub raised shares of PacWest Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, January 7th. TheStreet raised shares of PacWest Bancorp from a “d+” rating to a “c-” rating in a research note on Tuesday, November 17th. Zacks Investment Research cut shares of PacWest Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 5th. Wells Fargo & Company raised shares of PacWest Bancorp from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $20.00 to $29.00 in a research note on Monday, January 4th. Finally, ValuEngine raised shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, January 5th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. PacWest Bancorp has an average rating of “Hold” and a consensus target price of $26.14.

Shares of PacWest Bancorp stock opened at $31.15 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of -2.94 and a beta of 1.64. PacWest Bancorp has a 1-year low of $13.84 and a 1-year high of $38.04. The firm’s 50-day moving average price is $25.91 and its two-hundred day moving average price is $20.98.

A number of institutional investors have recently bought and sold shares of PACW. FMR LLC raised its stake in PacWest Bancorp by 169.4% in the second quarter. FMR LLC now owns 3,760,641 shares of the financial services provider’s stock worth $74,122,000 after buying an additional 2,364,544 shares in the last quarter. Cardinal Capital Management LLC CT boosted its position in shares of PacWest Bancorp by 23.1% in the 3rd quarter. Cardinal Capital Management LLC CT now owns 4,170,190 shares of the financial services provider’s stock valued at $71,227,000 after purchasing an additional 782,820 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of PacWest Bancorp by 105.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,198,314 shares of the financial services provider’s stock valued at $20,467,000 after purchasing an additional 614,476 shares during the period. Stieven Capital Advisors L.P. acquired a new position in shares of PacWest Bancorp in the 3rd quarter valued at $7,086,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of PacWest Bancorp by 29.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,730,093 shares of the financial services provider’s stock valued at $34,101,000 after purchasing an additional 390,358 shares during the period. Institutional investors and hedge funds own 79.90% of the company’s stock.

PacWest Bancorp Company Profile

PacWest Bancorp operates as the holding company for Pacific Western 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, renovation, and construction of commercial real estate properties; small business administration loans; asset-based loans for working capital needs; venture capital loans to support the operations of entrepreneurial companies; and equipment-secured loans and leases.

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

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