PACW Stock - PacWest Bancorp
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Financial Statements
| Metric | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|
| Revenue | $1.29B | $1.26B | $1.13B | $1.13B | $1.18B |
| Gross Profit | $1.29B | $1.26B | $1.13B | $1.13B | $1.18B |
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Income | $833.29M | $822.33M | $-1,162,401,000 | $632.94M | $754.07M |
| Net Income | $423.61M | $606.96M | $-1,237,574,000 | $468.64M | $465.34M |
| Net Margin | 32.9% | 48.2% | -109.6% | 41.5% | 39.5% |
| EPS | $3.61 | $5.10 | $-10.59 | $3.94 | $3.76 |
PacWest Bancorp operates as the bank holding company for Pacific Western Bank that provides various banking products and services. The company accepts demand, money market, and time deposits. It also provides real estate loans to professional developers and real estate investors for the acquisition, refinancing, renovation, and construction of commercial real estate properties; small business administration loans; asset-based loans for working capital needs; venture capital loans to support the operations of entrepreneurial and venture-backed companies; and equipment-secured loans and leases. In addition, the company offers consumer loans comprising personal loans, auto loans, home equity lines of credit, revolving lines of credit, and other loans. Further, it provides international banking and multi-state deposit services; money market sweep products; investment advisory and asset management services; treasury and cash management services; telephone banking, remote deposit, and online and mobile banking services; and automated teller machine services. The company offers its products and services to small and mid-sized companies, venture capital and private equity investors, professionals, and other individuals. As of February 1, 2022, it operated through 69 full-service branches located in California; one branch located in Durham, North Carolina; one branch located in Denver, Colorado; and various loan production offices. The company was formerly known as First Community Bancorp and changed its name to PacWest Bancorp in April 2008. PacWest Bancorp was founded in 1999 and is headquartered in Beverly Hills, California.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| June 8th 2023 | Odeon | Initiation | Hold | $8.75 |
| May 4th 2023 | DA Davidson | Downgrade | Neutral | $3← $19 |
| March 13th 2023 | DA Davidson | Upgrade | Buy | $29← $31 |
| December 15th 2022 | Wells Fargo | Downgrade | Equal Weight | $26← $32 |
| December 9th 2022 | Truist | Downgrade | Hold | $26 |
| October 6th 2022 | DA Davidson | Downgrade | Neutral | $28← $43 |
| July 22nd 2022 | Keefe Bruyette | Downgrade | Market Perform | $35← $47 |
| July 7th 2022 | Raymond James | Downgrade | Market Perform | - |
Earnings History & Surprises
PACWEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q1 2024 | Jan 25, 2024 | $-0.11 | $0.86 | +881.8% | ✓ BEAT |
Q4 2023 | Oct 24, 2023 | $0.05 | $-0.31 | -720.0% | ✗ MISS |
Q3 2023 | Jul 25, 2023 | $0.18 | $0.22 | +22.2% | ✓ BEAT |
Q2 2023 | Apr 25, 2023 | $0.65 | $0.66 | +1.5% | ✓ BEAT |
Q1 2023 | Jan 26, 2023 | $1.01 | $0.86 | -14.9% | ✗ MISS |
Q4 2022 | Oct 19, 2022 | $1.06 | $1.02 | -3.8% | ✗ MISS |
Q3 2022 | Jul 20, 2022 | $1.06 | $1.02 | -3.8% | ✗ MISS |
Q2 2022 | Apr 19, 2022 | $1.04 | $1.01 | -2.9% | ✗ MISS |
Q1 2022 | Jan 19, 2022 | $1.01 | $1.14 | +12.9% | ✓ BEAT |
Q4 2021 | Oct 18, 2021 | $1.03 | $1.17 | +13.6% | ✓ BEAT |
Q3 2021 | Jul 19, 2021 | $0.97 | $1.52 | +56.7% | ✓ BEAT |
Q2 2021 | Apr 20, 2021 | $0.91 | $1.27 | +39.6% | ✓ BEAT |
Q1 2021 | Jan 20, 2021 | $0.67 | $0.99 | +47.8% | ✓ BEAT |
Q4 2020 | Oct 14, 2020 | $0.63 | $0.38 | -39.7% | ✗ MISS |
Q3 2020 | Jul 16, 2020 | $0.44 | $0.28 | -36.4% | ✗ MISS |
Q2 2020 | Apr 21, 2020 | $0.70 | $0.31 | -55.7% | ✗ MISS |
Q1 2020 | Jan 21, 2020 | $0.88 | $0.98 | +11.4% | ✓ BEAT |
Q4 2019 | Oct 16, 2019 | $0.93 | $0.92 | -1.1% | ✗ MISS |
Q3 2019 | Jul 16, 2019 | $0.94 | $0.94 | 0.0% | = MET |
Q2 2019 | Apr 16, 2019 | $0.91 | $0.92 | +1.1% | ✓ BEAT |
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