PacWest Bancorp (NASDAQ:PACW).
On August 18, 2017 SunTrust Robinson Humphrey starting coverage on PACW by announcing an initial rating of “Hold”. Wedbush released its first research report on the stock with a rating of “Neutral”.
The company is so far trading up since yesterday’s close of $43.64. PacWest Bancorp also declared a dividend for shareholders that will be paid on Thursday the 31st of August 2017. The dividend payment will be $0.500 per share for the quarter or $2.00 on an annualized basis. The dividend yield will be $4.55. The ex-dividend date is Thursday the 17th of August 2017.
Company chares are trading at $44.87 which is marginally under $47.10, the 50 day moving average and well below the 200 day moving average of $50.09. The 50 day moving average was down by -5.05% and the 200 day average went down $-5.37 or -10.72%.
PacWest Bancorp, launched on March 24, 2008, 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 December 31, 2016, the Bank offered a range of loan and deposit products and services through 77 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. The Company provides commercial banking services, and deposit and treasury management services to small and middle-market businesses. It offers products and services through its CapitalSource and Square 1 Bank divisions. CapitalSource Division provides cash flow, asset-based, equipment, and real estate loans and treasury management services to middle market businesses on a national basis. Square 1 Bank Division offers a suite of financial services focused on entrepreneurial businesses and their venture capital and private equity investors, with offices located in hubs across the United States. In addition, the Company provides investment advisory and asset management services to select clients through Square 1 Asset Management, Inc., a subsidiary of the Bank..
The company’s P/E ratio is 15.44 and market cap is 5.37B. As of the latest earnings report the EPS was $2.90 and is projected to be $2.95 for the current year with 120,048,000 shares presently outstanding. Next quarter’s EPS is forecasted at $0.77 with next year’s EPS projected to be $3.36.