PacWest Bancorp (NASDAQ:PACW) – Investment analysts at DA Davidson dropped their FY2021 earnings per share (EPS) estimates for shares of PacWest Bancorp in a report released on Tuesday, April 6th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings per share of $3.77 for the year, down from their previous estimate of $3.79. DA Davidson also issued estimates for PacWest Bancorp’s FY2022 earnings at $4.21 EPS.
PACW has been the subject of a number of other research reports. Zacks Investment Research cut PacWest Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, March 30th. Wells Fargo & Company raised PacWest Bancorp from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $20.00 to $29.00 in a report on Monday, January 4th. Stephens raised PacWest Bancorp from an “equal weight” rating to an “overweight” rating and set a $41.00 price target for the company in a report on Monday, February 8th. Keefe, Bruyette & Woods raised PacWest Bancorp from a “market perform” rating to an “outperform” rating and increased their target price for the company from $30.00 to $40.00 in a report on Friday, January 22nd. Finally, Truist increased their target price on PacWest Bancorp from $27.00 to $34.00 in a report on Wednesday, January 27th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $30.11.
PacWest Bancorp (NASDAQ:PACW) last released its quarterly earnings results on Tuesday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.32. The company had revenue of $299.06 million during the quarter, compared to analysts’ expectations of $286.68 million. PacWest Bancorp had a positive return on equity of 6.14% and a negative net margin of 98.27%.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Monday, March 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 26th. This represents a $1.00 annualized dividend and a dividend yield of 2.54%. PacWest Bancorp’s dividend payout ratio is presently 25.64%.
Several large investors have recently bought and sold shares of PACW. MCF Advisors LLC increased its holdings in shares of PacWest Bancorp by 42.9% in the fourth quarter. MCF Advisors LLC now owns 1,000 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 300 shares during the last quarter. Eudaimonia Partners LLC acquired a new stake in shares of PacWest Bancorp in the fourth quarter valued at approximately $25,000. Core Wealth Advisors Inc. acquired a new stake in shares of PacWest Bancorp in the fourth quarter valued at approximately $26,000. Toronto Dominion Bank acquired a new stake in shares of PacWest Bancorp in the fourth quarter valued at approximately $130,000. Finally, LPL Financial LLC acquired a new stake in shares of PacWest Bancorp in the fourth quarter valued at approximately $209,000. 82.38% of the stock is owned by hedge funds and other institutional investors.
PacWest Bancorp Company Profile
PacWest Bancorp operates as the bank holding company for Pacific Western Bank that provides various 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 and venture-backed companies; and equipment-secured loans and leases.
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