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

PacWest Bancorp (NASDAQ:PACW) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.38 EPS for the quarter, missing the 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 business earned $1.07 earnings per share.

PACW stock traded down $0.23 during midday trading on Thursday, hitting $18.51. The company’s stock had a trading volume of 6,380 shares, compared to its average volume of 1,335,927. PacWest Bancorp has a 12 month low of $13.84 and a 12 month high of $40.14. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -1.81 and a beta of 1.60. The company has a 50 day moving average of $18.28 and a two-hundred day moving average of $18.57.

Several equities research analysts have recently commented on PACW shares. BidaskClub upgraded PacWest Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 7th. ValuEngine lowered PacWest Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. Finally, Raymond James upgraded PacWest Bancorp from a “market perform” rating to a “strong-buy” rating and set a $26.00 price target for the company in a research note on Wednesday, June 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average 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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