In the last trading session, 3.61 million Pacwest Bancorp (NASDAQ:PACW) shares changed hands as the company’s beta touched 1.47. With the company’s per share price at $8.34 changed hands at $0.08 or 0.97% during last session, the market valuation stood at $989.04M. PACW’s last price was a discount, traded about -260.55% off its 52-week high of $30.07. The share price had its 52-week low at $2.48, which suggests the last value was 70.26% up since then. When we look at Pacwest Bancorp’s average trading volume, we note the 10-day average is 3.43 million shares, with the 3-month average coming to 3.50 million.
Analysts gave the Pacwest Bancorp (PACW) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.43. If we narrow down to specifics, the data shows that 0 out of 7 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 5 recommended PACW as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Pacwest Bancorp’s EPS for the current quarter is expected to be -$0.11.
Pacwest Bancorp (NASDAQ:PACW) trade information
Instantly PACW was in green as seen at the end of in last trading. With action 13.47%, the performance over the past five days has been green. The jump to weekly highs of 8.37 on Monday, 11/20/23 added 0.97% to the stock’s daily price. The company’s shares are showing year-to-date downside of -63.66%, with the 5-day performance at 13.47% in the green. However, in the 30-day time frame, Pacwest Bancorp (NASDAQ:PACW) is 13.47% up. Looking at the short shares, we see there were 23.5 million shares sold at short interest cover period of 4.93 days.
The consensus price target for the stock as assigned by Wall Street analysts is $10.33, meaning bulls need an upside of 19.26% from its current market value. According to analyst projections, PACW’s forecast low is $8.00 with $14.00 as the target high. To hit the forecast high, the stock’s price needs a -67.87% plunge from its current level, while the stock would need to tank 4.08% for it to hit the projected low.
Pacwest Bancorp (PACW) estimates and forecasts
Data shows that the Pacwest Bancorp share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 21.75% over the past 6 months, a -89.20% in annual growth rate that is considerably lower than the industry average of -10.50%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Pacwest Bancorp will fall -121.60%, while the growth in revenue is estimated to hit -95.50% for the next quarter. Year-over-year growth is forecast to reach -48.10% down from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $178.5 million. 2 analysts are of the opinion that Pacwest Bancorp’s revenue for the quarter ending Mar 2024 will be $177.05 million. The company’s revenue for the corresponding quarters a year ago was $303.98 million and $315.66 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -41.30%. The estimates for the next quarter sales put growth at -43.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 3.40%. The 2023 estimates are for Pacwest Bancorp earnings to decrease by -470.03%, but the outlook for the next 5-year period is at 10.00% per year.
Pacwest Bancorp is expected to release its next quarterly earnings report between January 24 and January 29. The 3.33% annual yield figure for the share gives it an annual dividend of 0.28. It is important to note, however, that the 3.33% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Pacwest Bancorp (NASDAQ:PACW)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.53% of Pacwest Bancorp shares while 84.88% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 86.19%. There are 84.88% institutions holding the Pacwest Bancorp stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 13.59% of the shares, roughly 16.11 million PACW shares worth $131.29 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 11.86% or 14.07 million shares worth $114.63 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were SPDR (R) Ser Tr-S&P Regional Banking ETF and iShares Core S&P Smallcap ETF. With 6.59 million shares estimated at $52.41 million under it, the former controlled 5.56% of total outstanding shares. On the other hand, iShares Core S&P Smallcap ETF held about 4.68% of the shares, roughly 5.55 million shares worth around $43.88 million.