PacWest Bancorp (PACW) Announces Earnings Results

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PacWest Bancorp (NASDAQ:PACW) issued its earnings results on Tuesday. The financial services provider reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.01, MarketWatch Earnings reports. PacWest Bancorp had a return on equity of 9.64% and a net margin of 35.33%. During the same period last year, the business posted $0.93 earnings per share.

PacWest Bancorp stock opened at $39.61 on Wednesday. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.04 and a beta of 1.53. PacWest Bancorp has a 52-week low of $31.16 and a 52-week high of $55.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.38.

PACW has been the subject of a number of recent research reports. BMO Capital Markets boosted their price target on PacWest Bancorp to $38.00 in a research note on Tuesday, January 22nd. Zacks Investment Research downgraded PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Raymond James set a $46.00 price target on PacWest Bancorp and gave the company a “hold” rating in a research note on Friday, January 18th. Stephens restated a “buy” rating and set a $43.00 price target on shares of PacWest Bancorp in a research note on Thursday, March 21st. Finally, JMP Securities cut their price target on PacWest Bancorp from $59.00 to $44.00 and set an “outperform” rating for the company in a research note on Monday, January 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $47.89.

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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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