News stories about PacWest Bancorp (NASDAQ:PACW) have trended somewhat positive this week, according to Accern Sentiment Analysis. The research firm ranks the sentiment of media coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. PacWest Bancorp earned a daily sentiment score of 0.24 on Accern’s scale. Accern also gave media headlines about the financial services provider an impact score of 47.0950155586828 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the news stories that may have effected Accern Sentiment Analysis’s rankings:
- PacWest Bancorp (PACW) Cut to “Hold” at Zacks Investment Research (americanbankingnews.com)
- PacWest Bancorp increased stock repurchase program to $350M (seekingalpha.com)
- BRIEF-Pacwest Bancorp Says Board Amended Its Existing Stock Repurchase Program (reuters.com)
- Recent Analysis Shows PacWest, Ocwen Financial, Keysight Technologies, First Industrial Realty Trust, Texas Pacific Land Trust, and Bunge Market Influences — Renewed Outlook, Key Drivers of Growth (finance.yahoo.com)
- Form 4 PACWEST BANCORP For: Feb 09 Filed by: RUSNAK PATRICK J (streetinsider.com)
Shares of PacWest Bancorp (NASDAQ:PACW) traded up $0.92 during trading hours on Friday, hitting $54.40. The stock had a trading volume of 898,681 shares, compared to its average volume of 652,084. PacWest Bancorp has a 52 week low of $43.08 and a 52 week high of $57.53. The firm has a market capitalization of $7,005.80, a price-to-earnings ratio of 18.63, a PEG ratio of 1.57 and a beta of 1.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.90 and a current ratio of 0.93.
PacWest Bancorp (NASDAQ:PACW) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.08). The business had revenue of $289.75 million during the quarter, compared to analyst estimates of $297.74 million. PacWest Bancorp had a net margin of 30.12% and a return on equity of 7.65%. During the same quarter last year, the business posted $0.71 earnings per share. analysts predict that PacWest Bancorp will post 3.46 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th will be given a $0.50 dividend. The ex-dividend date is Friday, February 16th. This represents a $2.00 dividend on an annualized basis and a yield of 3.68%. PacWest Bancorp’s payout ratio is 68.49%.
PacWest Bancorp announced that its Board of Directors has approved a share buyback program on Thursday, November 16th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of brokerages have issued reports on PACW. Zacks Investment Research cut PacWest Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub upgraded PacWest Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. B. Riley restated a “neutral” rating and issued a $55.00 target price (up from $52.00) on shares of PacWest Bancorp in a research note on Monday, January 22nd. DA Davidson restated a “buy” rating and issued a $59.00 target price on shares of PacWest Bancorp in a research note on Friday, January 19th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $59.00 target price on shares of PacWest Bancorp in a research note on Friday, December 22nd. Ten research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $55.18.
In related news, Director Daniel B. Platt sold 7,000 shares of PacWest Bancorp stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $53.61, for a total value of $375,270.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.98% of the stock is owned by company insiders.
About PacWest Bancorp
PacWest Bancorp is a bank holding company for Pacific Western Bank (the Bank). The Company is focused on relationship-based business banking to small, middle-market and venture-backed businesses. As of October 23, 2017, the Bank offered a range of loan and deposit products and services through 83 branches located throughout the state of California, one branch located in Durham, North Carolina, and several loan production offices located in cities across the country.
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