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PacWest Bancorp (NASDAQ: PACW) Stock Dropped -30.16% Over A Month – Is There Any Hope Of A Gain?

During the last session, PacWest Bancorp (NASDAQ:PACW)’s traded shares were 30.61 million, with the beta value of the company hitting 1.41. At the end of the trading day, the stock’s price was $7.20, reflecting an intraday loss of -2.44% or -$0.18. The 52-week high for the PACW share is $32.68, that puts it down -353.89 from that peak though still a striking 65.56% gain since the share price plummeted to a 52-week low of $2.48. The company’s market capitalization is $866.16M, and the average intraday trading volume over the past 10 days was 45.22 million shares, and the average trade volume was 30.35 million shares over the past three months.

PacWest Bancorp (NASDAQ:PACW) trade information

PacWest Bancorp (PACW) registered a -2.44% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -2.44% in intraday trading to $7.20 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 29.50%, and it has moved by -30.16% in 30 days. Based on these gigs, the overall price performance for the year is -76.18%. The short interest in PacWest Bancorp (NASDAQ:PACW) is 19.74 million shares and it means that shorts have 1.5 day(s) to cover.

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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 -72.04% during the last six months, with a year-to-date growth rate less than the industry average at -61.18% against -7.70. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -75.50% this quarter and then drop -70.60% in the quarter after that. In the rating firms’ projections, revenue will decrease -22.60% compared to the previous financial year.

Revenue for the current quarter is expected to be $242.86 million as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $244.83 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $358.27 million and $373.8 million respectively. In this case, analysts expect current quarter sales to shrink by -32.20% and then drop by -34.50% 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 July 18 and July 24. 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 0.04, with the dividend yield indicating at 0.56 percent, continuing the trend of increasing dividends in recent years.

PacWest Bancorp (NASDAQ:PACW)’s Major holders

PacWest Bancorp insiders own 1.35% of total outstanding shares while institutional holders control 90.33%, with the float percentage being 91.57%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 410 institutions own stock in it. As of Mar 30, 2023, the company held over 13.05 million shares (or 11.05% of all shares), a total value of $93.93 million in shares.

The next largest institutional holding, with 10.45 million shares, is of Blackrock Inc.’s that is approximately 8.85% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $75.21 million.

Also, the Mutual Funds coming in first place with the largest holdings of PacWest Bancorp (PACW) shares are SPDR (R) Ser Tr-S&P Regional Banking ETF and iShares Core S&P Midcap ETF. Data provided on Mar 30, 2023 indicates that SPDR (R) Ser Tr-S&P Regional Banking ETF owns about 3.84 million shares. This amounts to just over 3.25 percent of the company’s overall shares, with a $27.66 million market value. The same data shows that the other fund manager holds slightly less at 3.67 million, or about 3.11% of the stock, which is worth about $26.39 million.

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