PacWest Bancorp(NASDAQ:PACW) announced the earnings results for Fiscal Year 2016 and Q1. The results came in during Pre-market on Apr 14, 2016. Company reported revenue of $279.13M. Analysts estimated a revenue of $262.87M. Earnings per share were $0.74. Analysts had estimated an EPS of $0.70.
In a different note, On Mar 24, 2016, Keefe Bruyette & Woods said it Maintains its rating on PacWest Bancorp. In the research note, the firm Lowers the price-target to $50.00 per share. The shares have been rated ‘Outperform’ by the firm.
PacWest Bancorp (PACW) made into the market gainers list on Mondays trading session with the shares advancing 0.73% or 0.28 points. Due to strong positive momentum, the stock ended at $38.88, which is also near the day’s high of $39.09. The stock began the session at $38.28 and the volume stood at 16,51,290 shares. The 52-week high of the shares is $48.855 and the 52 week low is $29.05. The company has a current market capitalization of $4,674 M and it has 12,02,08,695 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On Mar 10, 2016, Matthew P Wagner (CEO) purchased 7,500 shares at $34.60 per share price.Also, On Feb 24, 2016, James Pieczynski (Executive Vice President) purchased 5,000 shares at $30.99 per share price.On Feb 19, 2016, Patrick J Rusnak (CFO) purchased 2,000 shares at $31.49 per share price, according to the Form-4 filing with the securities and exchange commission.
PacWest Bancorp is a bank holding company. The Companys business is to serve as the holding bank for its subsidiary Pacific Western Bank (Pacific Western or the Bank). It is a commercial bank that offers banking products and services including accepting demand money market and time deposits and originating loans and leases including an array of commercial real estate loans and commercial lending products. It operates in two segments: Community Banking which includes the operations of Pacific Western Bank excluding the CapitalSource Division and National Lending which includes the lending operations gained through the CapitalSource Inc. merger Pacific Western Equipment Finance and the CapitalSource Business Finance Group. The Bank offers products and services through its CapitalSource and Square 1 Bank divisions. The Square 1 Bank Division offers financial services focused on entrepreneurial businesses and their venture capital and private equity investors.