PacWest Bancorp (NASDAQ:PACW) – Truist Securiti issued their Q2 2021 earnings per share (EPS) estimates for shares of PacWest Bancorp in a research note issued on Monday, June 21st. Truist Securiti analyst B. King anticipates that the financial services provider will earn $0.94 per share for the quarter. Truist Securiti also issued estimates for PacWest Bancorp’s Q3 2021 earnings at $0.90 EPS, Q4 2021 earnings at $0.98 EPS, FY2021 earnings at $4.09 EPS, Q1 2022 earnings at $1.00 EPS, Q2 2022 earnings at $1.00 EPS, Q3 2022 earnings at $1.02 EPS, Q4 2022 earnings at $1.05 EPS and FY2022 earnings at $4.07 EPS.
PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings results on Monday, April 19th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.36. The firm had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $291.40 million. PacWest Bancorp had a net margin of 27.74% and a return on equity of 9.84%.
Shares of PACW opened at $41.70 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. PacWest Bancorp has a 1 year low of $15.62 and a 1 year high of $46.75. The company’s fifty day moving average price is $43.49. The firm has a market capitalization of $4.88 billion, a P/E ratio of 14.28 and a beta of 1.61.
A number of large investors have recently bought and sold shares of PACW. Davis Capital Partners LLC bought a new position in shares of PacWest Bancorp in the fourth quarter valued at approximately $51,562,000. Vaughan Nelson Investment Management L.P. grew its holdings in PacWest Bancorp by 319.2% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,153,177 shares of the financial services provider’s stock worth $82,143,000 after acquiring an additional 1,639,518 shares during the period. Norges Bank acquired a new stake in shares of PacWest Bancorp during the fourth quarter worth $35,619,000. Azora Capital LP bought a new position in PacWest Bancorp during the fourth quarter worth about $26,482,000. Finally, Boston Partners acquired a new stake in PacWest Bancorp in the first quarter worth $37,072,000. 87.41% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP James Pieczynski sold 15,000 shares of PacWest Bancorp stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $43.62, for a total value of $654,300.00. Following the transaction, the executive vice president now owns 13,756 shares in the company, valued at approximately $600,036.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 28th. Stockholders of record on Monday, May 17th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, May 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. PacWest Bancorp’s dividend payout ratio is currently 47.62%.
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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