PacWest Bancorp (NASDAQ:PACW) Declares $0.60 Dividend
PacWest Bancorp (NASDAQ:PACW) announced a dividend on Friday, November 1st, Fidelity reports. Shareholders of record on Wednesday, November 20th will be paid a dividend of 0.60 per share by the financial services provider on Friday, November 29th. The ex-dividend date of this dividend is Tuesday, November 19th.
Shares of PACW stock traded up $0.08 during mid-day trading on Friday, hitting $38.91. The stock had a trading volume of 564,000 shares, compared to its average volume of 567,086. The firm’s 50-day moving average is $37.14 and its two-hundred day moving average is $37.11. PacWest Bancorp has a 12-month low of $31.16 and a 12-month high of $41.60. The firm has a market capitalization of $4.59 billion, a P/E ratio of 10.46, a price-to-earnings-growth ratio of 1.03 and a beta of 1.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.96 and a quick ratio of 0.96.
PacWest Bancorp (NASDAQ:PACW) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.01). PacWest Bancorp had a net margin of 33.80% and a return on equity of 9.61%. The business had revenue of $285.67 million for the quarter, compared to analyst estimates of $290.49 million. During the same period in the prior year, the company earned $0.94 earnings per share. Analysts expect that PacWest Bancorp will post 3.77 EPS for the current year.
Several brokerages recently issued reports on PACW. ValuEngine raised PacWest Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 12th. Zacks Investment Research downgraded PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. BidaskClub downgraded PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. Royal Bank of Canada began coverage on PacWest Bancorp in a research note on Friday, August 23rd. They set an “outperform” rating and a $40.00 price target on the stock. Finally, SunTrust Banks dropped their price target on PacWest Bancorp from $40.00 to $39.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $41.67.
PacWest Bancorp Company Profile
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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