PacWest Bancorp (NASDAQ:PACW) – Investment analysts at SunTrust Banks reduced their Q1 2018 earnings per share (EPS) estimates for PacWest Bancorp in a report released on Monday. SunTrust Banks analyst M. Young now anticipates that the financial services provider will earn $0.69 per share for the quarter, down from their previous forecast of $0.77. SunTrust Banks currently has a “Hold” rating and a $49.00 target price on the stock. SunTrust Banks also issued estimates for PacWest Bancorp’s Q2 2018 earnings at $0.71 EPS, Q3 2018 earnings at $0.75 EPS, Q4 2018 earnings at $0.77 EPS, FY2018 earnings at $2.92 EPS, Q1 2019 earnings at $0.79 EPS, Q2 2019 earnings at $0.81 EPS, Q3 2019 earnings at $0.84 EPS and FY2019 earnings at $3.30 EPS.

PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.09. The business had revenue of $273.07 million for the quarter, compared to analysts’ expectations of $281.14 million. PacWest Bancorp had a net margin of 30.80% and a return on equity of 7.87%. During the same quarter last year, the company posted $0.77 EPS.

PACW has been the topic of several other research reports. BidaskClub upgraded shares of PacWest Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Raymond James Financial cut shares of PacWest Bancorp from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, October 17th. Zacks Investment Research cut shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. DA Davidson upgraded shares of PacWest Bancorp from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Thursday, September 7th. Finally, UBS cut shares of PacWest Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. PacWest Bancorp presently has an average rating of “Hold” and an average target price of $52.73.

Shares of PacWest Bancorp (NASDAQ PACW) traded down $1.05 during trading on Wednesday, hitting $47.00. 850,400 shares of the stock traded hands, compared to its average volume of 839,479. The stock has a market cap of $6,195.36, a PE ratio of 16.18, a PEG ratio of 1.60 and a beta of 1.59. PacWest Bancorp has a 1-year low of $43.08 and a 1-year high of $57.53. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Allied Advisory Services Inc. lifted its stake in PacWest Bancorp by 1.1% in the 2nd quarter. First Allied Advisory Services Inc. now owns 5,781 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 65 shares in the last quarter. Dowling & Yahnke LLC lifted its stake in PacWest Bancorp by 0.8% in the 2nd quarter. Dowling & Yahnke LLC now owns 7,858 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 65 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in PacWest Bancorp by 1.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,895 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 79 shares in the last quarter. Todd Asset Management LLC lifted its stake in PacWest Bancorp by 0.6% in the 2nd quarter. Todd Asset Management LLC now owns 27,090 shares of the financial services provider’s stock worth $1,265,000 after purchasing an additional 157 shares in the last quarter. Finally, 1st Global Advisors Inc. lifted its stake in PacWest Bancorp by 3.4% in the 2nd quarter. 1st Global Advisors Inc. now owns 5,180 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 169 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

In other news, CFO Patrick J. Rusnak bought 2,000 shares of the stock in a transaction that occurred on Thursday, October 19th. The shares were bought at an average price of $46.92 per share, for a total transaction of $93,840.00. Following the purchase, the chief financial officer now owns 77,852 shares in the company, valued at $3,652,815.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.98% of the stock is currently owned by insiders.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Monday, November 20th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date was Friday, November 17th. PacWest Bancorp’s dividend payout ratio (DPR) is 67.34%.

PacWest Bancorp announced that its Board of Directors has approved a stock repurchase program on Thursday, November 16th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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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.

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

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