PacWest Bancorp (NASDAQ:PACW) Releases Quarterly Earnings Results, Misses Expectations By $0.25 EPS

PacWest Bancorp (NASDAQ:PACW) released its quarterly earnings data on Wednesday. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.25), reports. PacWest Bancorp had a positive return on equity of 7.15% and a negative net margin of 90.52%. During the same period in the previous year, the firm posted $1.07 earnings per share.

PacWest Bancorp stock traded down $0.28 during trading hours on Thursday, hitting $18.46. The stock had a trading volume of 5,207 shares, compared to its average volume of 1,335,927. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -1.81 and a beta of 1.60. PacWest Bancorp has a 1-year low of $13.84 and a 1-year high of $40.14. The stock’s fifty day moving average is $18.28 and its two-hundred day moving average is $18.57.

Several research firms have issued reports on PACW. BidaskClub upgraded PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 7th. Raymond James upgraded PacWest Bancorp from a “market perform” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, June 17th. Finally, ValuEngine cut PacWest Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, August 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.20.

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.

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Earnings History for PacWest Bancorp (NASDAQ:PACW)

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