During the last session, $PacWest(PACW)$ ’s traded shares were 46.92 million, with the beta value of the company hitting 1.50. At the end of the trading day, the stock’s price was $10.12, reflecting an intraday loss of -17.12% or -$2.09. The 52-week high for the PACW share is $46.76, that puts it down -362.06 from that peak though still a striking 50.59% gain since the share price plummeted to a 52-week low of $5.00. The company’s market capitalization is $1.47B, and the average intraday trading volume over the past 10 days was 50.01 million shares, and the average trade volume was 8.76 million shares over the past three months.
PacWest Bancorp (PACW) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.30. PACW has a Sell rating from 0 analyst(s) out of 10 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 5 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.81.
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PacWest Bancorp (NASDAQ:PACW) trade information
PacWest Bancorp (PACW) registered a -17.12% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -17.12% in intraday trading to $10.12 this Wednesday, 03/22/23, hitting a weekly high. The stock’s 5-day price performance is -10.99%, and it has moved by -62.64% in 30 days. Based on these gigs, the overall price performance for the year is -77.46%. The short interest in PacWest Bancorp (NASDAQ:PACW) is 5.05 million shares and it means that shorts have 3.92 day(s) to cover.
The consensus price target of analysts on Wall Street is $30.00, which implies an increase of 66.27% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $26.00 and $33.00 respectively. As a result, PACW is trading at a discount of -226.09% off the target high and -156.92% off the low.
PacWest Bancorp (PACW) estimates and forecasts
Statistics show that PacWest Bancorp has underperformed its competitors in share price, compared to the industry in which it operates. PacWest Bancorp (PACW) shares have gone down -60.22% during the last six months, with a year-to-date growth rate less than the industry average at -13.88% against 3.60. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -19.80% this quarter and then drop -19.60% in the quarter after that. In the rating firms’ projections, revenue will increase 2.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $341.62 million as predicted by 8 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $343.57 million by the end of Jun 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $329.54 million and $358.27 million respectively. In this case, analysts expect current quarter sales to grow by 3.70% and then drop by -4.10% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 3.10%. While earnings are projected to return -33.80% in 2023, the next five years will return 10.00% per annum.
PACW Dividends
PacWest Bancorp is due to release its next quarterly earnings between April 17 and April 21. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for PacWest Bancorp is 1.00, with the dividend yield indicating at 9.88 percent, continuing the trend of increasing dividends in recent years.
PacWest Bancorp (NASDAQ:PACW)’s Major holders
PacWest Bancorp insiders own 1.78% of total outstanding shares while institutional holders control 93.89%, with the float percentage being 95.58%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 423 institutions own stock in it. As of Sep 29, 2022, the company held over 14.03 million shares (or 11.91% of all shares), a total value of $316.98 million in shares.
The next largest institutional holding, with 11.04 million shares, is of Blackrock Inc.’s that is approximately 9.37% of outstanding shares. At the market price on Sep 29, 2022, these shares were valued at $249.52 million.
Also, the Mutual Funds coming in first place with the largest holdings of PacWest Bancorp (PACW) shares are iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund. Data provided on Dec 30, 2022 indicates that iShares Core S&P Midcap ETF owns about 3.64 million shares. This amounts to just over 3.09 percent of the company’s overall shares, with a $83.46 million market value. The same data shows that the other fund manager holds slightly less at 3.49 million, or about 2.97% of the stock, which is worth about $78.94 million.
source：marketingsentinel
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