PacWest Bancorp (NASDAQ:PACW) - Stock analysts at DA Davidson increased their FY2021 earnings estimates for shares of PacWest Bancorp in a research note issued on Wednesday, July 21st. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $5.06 per share for the year, up from their prior forecast of $4.37. DA Davidson also issued estimates for PacWest Bancorp's FY2022 earnings at $4.36 EPS.
Other research analysts have also recently issued reports about the company. Royal Bank of Canada increased their price target on PacWest Bancorp from $43.00 to $50.00 and gave the company an "outperform" rating in a research report on Thursday, April 22nd. Zacks Investment Research cut PacWest Bancorp from a "buy" rating to a "hold" rating in a research report on Tuesday, March 30th. Truist increased their price target on PacWest Bancorp from $34.00 to $45.00 in a research report on Tuesday, April 27th. Wedbush reduced their price target on PacWest Bancorp from $47.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, July 20th. Finally, TheStreet raised PacWest Bancorp from a "c" rating to a "b-" rating in a research report on Tuesday, April 20th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. PacWest Bancorp presently has an average rating of "Buy" and an average price target of $41.38.
PACW stock opened at $40.75 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.83 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $4.76 billion, a PE ratio of 9.80 and a beta of 1.59. The stock's 50-day moving average price is $42.39. PacWest Bancorp has a fifty-two week low of $15.62 and a fifty-two week high of $46.75. PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings data on Sunday, July 18th. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.54. PacWest Bancorp had a return on equity of 13.62% and a net margin of 39.30%. During the same quarter in the previous year, the company earned $0.28 earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 28th. Shareholders of record on Monday, May 17th were paid a $0.25 dividend. The ex-dividend date was Friday, May 14th. This represents a $1.00 annualized dividend and a yield of 2.45%. PacWest Bancorp's dividend payout ratio is 47.62%.
In other PacWest Bancorp news, EVP James Pieczynski sold 15,000 shares of the company's stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $43.62, for a total value of $654,300.00. Following the sale, the executive vice president now owns 13,756 shares in the company, valued at $600,036.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in PACW. Eudaimonia Partners LLC bought a new position in shares of PacWest Bancorp during the fourth quarter worth approximately $25,000. Parkside Financial Bank & Trust bought a new position in shares of PacWest Bancorp during the first quarter worth approximately $35,000. Harvest Fund Management Co. Ltd bought a new position in shares of PacWest Bancorp during the first quarter worth approximately $35,000. Huntington National Bank increased its stake in shares of PacWest Bancorp by 21.8% during the first quarter. Huntington National Bank now owns 1,956 shares of the financial services provider's stock worth $75,000 after purchasing an additional 350 shares during the period. Finally, Meeder Asset Management Inc. increased its stake in shares of PacWest Bancorp by 192.0% during the first quarter. Meeder Asset Management Inc. now owns 2,164 shares of the financial services provider's stock worth $83,000 after purchasing an additional 1,423 shares during the period. Institutional investors own 87.43% of the company's stock.
About PacWest Bancorp
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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