Brokerages Expect PacWest Bancorp (NASDAQ:PACW) Will Announce Quarterly Sales of $315.65 Million

Equities analysts expect PacWest Bancorp (NASDAQ:PACW) to report $315.65 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for PacWest Bancorp’s earnings. The lowest sales estimate is $313.60 million and the highest is $319.70 million. PacWest Bancorp reported sales of $289.58 million in the same quarter last year, which would suggest a positive year over year growth rate of 9%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, October 13th.

According to Zacks, analysts expect that PacWest Bancorp will report full-year sales of $1.26 billion for the current year, with estimates ranging from $1.24 billion to $1.28 billion. For the next year, analysts expect that the firm will post sales of $1.36 billion, with estimates ranging from $1.31 billion to $1.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow PacWest Bancorp.

PacWest Bancorp (NASDAQ:PACW) last announced its quarterly earnings results on Sunday, July 18th. The financial services provider reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.54. The company had revenue of $306.68 million for the quarter, compared to analyst estimates of $304.07 million. PacWest Bancorp had a net margin of 39.30% and a return on equity of 13.62%. During the same quarter in the prior year, the business posted $0.28 EPS.

PACW has been the subject of a number of research analyst reports. Wedbush cut their target price on shares of PacWest Bancorp from $47.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, July 20th. Zacks Investment Research cut PacWest Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, September 9th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $42.50.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PACW. Parkside Financial Bank & Trust bought a new position in shares of PacWest Bancorp during the first quarter valued at $35,000. Harvest Fund Management Co. Ltd bought a new position in PacWest Bancorp during the 1st quarter valued at about $35,000. Advisory Services Network LLC bought a new position in PacWest Bancorp during the 2nd quarter valued at about $39,000. Eagle Bay Advisors LLC acquired a new position in PacWest Bancorp in the second quarter valued at about $65,000. Finally, Van ECK Associates Corp bought a new stake in PacWest Bancorp during the second quarter worth about $65,000. 88.45% of the stock is currently owned by institutional investors.

NASDAQ PACW opened at $41.19 on Wednesday. PacWest Bancorp has a 1 year low of $15.62 and a 1 year high of $46.75. The company has a fifty day simple moving average of $40.96 and a 200 day simple moving average of $41.44. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.23. The company has a market cap of $4.83 billion, a P/E ratio of 9.90 and a beta of 1.60.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 31st. Investors of record on Tuesday, August 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.43%. The ex-dividend date was Monday, August 16th. PacWest Bancorp’s dividend payout ratio (DPR) is presently 47.62%.

PacWest Bancorp Company Profile

PacWest Bancorp is a bank holding company, which specializes in financial and banking solutions. Through the Pacific Western Bank, it offers commercial banking services including real estate, construction, commercial loans, comprehensive deposit, and treasury management services to small and middle-market businesses.

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

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