PacWest Bancorp Expected to Earn Q3 2022 Earnings of $1.14 Per Share (NASDAQ:PACW)

PacWest Bancorp (NASDAQ:PACW – Get Rating) – Wedbush decreased their Q3 2022 earnings estimates for shares of PacWest Bancorp in a research report issued to clients and investors on Wednesday, April 20th. Wedbush analyst D. Chiaverini now expects that the financial services provider will earn $1.14 per share for the quarter, down from their prior forecast of $1.15. Wedbush also issued estimates for PacWest Bancorp’s Q4 2022 earnings at $1.17 EPS, FY2022 earnings at $4.40 EPS, Q1 2023 earnings at $1.16 EPS, Q2 2023 earnings at $1.25 EPS, Q3 2023 earnings at $1.28 EPS and Q4 2023 earnings at $1.30 EPS.

PacWest Bancorp (NASDAQ:PACW – Get Rating) last posted its quarterly earnings data on Tuesday, April 19th. The financial services provider reported $1.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.03). PacWest Bancorp had a net margin of 44.87% and a return on equity of 15.75%. During the same quarter in the previous year, the business posted $1.27 earnings per share.

PACW has been the subject of several other research reports. StockNews.com began coverage on shares of PacWest Bancorp in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Truist Financial raised their price target on shares of PacWest Bancorp from $55.00 to $60.00 in a research note on Friday, January 21st. Raymond James decreased their price target on shares of PacWest Bancorp from $62.00 to $51.00 and set a “strong-buy” rating for the company in a research note on Thursday. Wells Fargo & Company decreased their price target on shares of PacWest Bancorp from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Zacks Investment Research lowered shares of PacWest Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, April 12th. Three 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 company. According to MarketBeat.com, PacWest Bancorp currently has a consensus rating of “Buy” and a consensus target price of $53.71.

NASDAQ:PACW opened at $38.10 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 7.47 and a beta of 1.34. PacWest Bancorp has a 52 week low of $35.71 and a 52 week high of $51.81. The firm has a 50-day moving average price of $44.16 and a two-hundred day moving average price of $46.16.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 28th. Investors of record on Tuesday, February 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Monday, February 14th. PacWest Bancorp’s dividend payout ratio (DPR) is presently 19.61%.

In related news, EVP Bryan M. Corsini sold 1,139 shares of the firm’s stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $47.85, for a total value of $54,501.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.25% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its holdings in PacWest Bancorp by 446.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 563 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 460 shares during the period. UMB Bank N A MO bought a new position in PacWest Bancorp in the 4th quarter valued at $27,000. Farmers & Merchants Investments Inc. bought a new position in PacWest Bancorp in the 4th quarter valued at $29,000. First Horizon Advisors Inc. boosted its holdings in PacWest Bancorp by 220.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 737 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 507 shares during the period. Finally, Widmann Financial Services Inc. bought a new stake in shares of PacWest Bancorp during the 4th quarter worth $58,000. 89.47% of the stock is owned by hedge funds and other institutional investors.

PacWest Bancorp Company Profile (Get Rating)

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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