Media headlines about PacWest Bancorp (NASDAQ:PACW) have been trending somewhat positive on Thursday, according to Accern Sentiment. The research group ranks the sentiment of news coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. PacWest Bancorp earned a media sentiment score of 0.16 on Accern’s scale. Accern also gave news articles about the financial services provider an impact score of 46.5166413397727 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the news headlines that may have impacted Accern’s rankings:
- Zacks Investment Research Upgrades PacWest Bancorp (PACW) to Buy (americanbankingnews.com)
- Investors Alert: PacWest Bancorp (PACW) traded with rise change of 2.86% at $49.55 (analystrecommendation.com)
- Piper Jaffray Weighs in on PacWest Bancorp’s Q1 2018 Earnings (PACW) (americanbankingnews.com)
- PacWest Bancorp (PACW) Cut to “Sell” at BidaskClub (americanbankingnews.com)
PACW has been the topic of several research analyst reports. B. Riley reissued a “hold” rating and set a $50.00 target price on shares of PacWest Bancorp in a research note on Monday, December 11th. BidaskClub upgraded shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. BMO Capital Markets restated a “hold” rating and set a $49.00 price target on shares of PacWest Bancorp in a report on Wednesday, December 20th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $59.00 target price on shares of PacWest Bancorp in a research report on Friday, December 22nd. Finally, SunTrust Banks reissued a “hold” rating and issued a $54.00 price target on shares of PacWest Bancorp in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $54.73.
PacWest Bancorp (NASDAQ:PACW) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.66 earnings per share for the quarter, missing the 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 period last year, the business earned $0.71 earnings per share. research analysts anticipate that PacWest Bancorp will post 3.46 earnings per share for the current year.
PacWest Bancorp announced that its board has approved a stock buyback plan on Friday, February 16th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.00 dividend on an annualized basis and a yield of 4.04%. PacWest Bancorp’s payout ratio is currently 68.49%.
In other news, Director Daniel B. Platt sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $53.61, for a total transaction of $375,270.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.98% of the company’s stock.
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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