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Last $46.35 USD
Change Today +0.06 / 0.13%
Volume 605.2K
As of 5:20 PM 08/3/15 All times are local (Market data is delayed by at least 15 minutes).

pacwest bancorp (PACW) Snapshot

Open
$46.38
Previous Close
$46.29
Day High
$46.45
Day Low
$45.81
52 Week High
06/26/15 - $48.86
52 Week Low
10/15/14 - $37.63
Market Cap
4.7B
Average Volume 10 Days
561.0K
EPS TTM
$2.92
Shares Outstanding
102.1M
EX-Date
05/21/15
P/E TM
15.9x
Dividend
$2.00
Dividend Yield
3.78%
Current Stock Chart for PACWEST BANCORP (PACW)

pacwest bancorp (PACW) Related Businessweek News

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pacwest bancorp (PACW) Details

PacWest Bancorp operates as the holding company for Pacific Western Bank that provides commercial banking products and services to individuals, professionals, and small to mid-sized businesses in the United States. It accepts demand, money market, and time deposits. Its real estate loans include mini-perm loans and construction loans; commercial loans comprise asset secured loans, cash flow secured loans, term business loans, and equipment secured loans and leases, as well as SBA loans; and consumer loans, such as personal loans, auto loans, home equity lines of credit, revolving lines of credit, and other loans. The company also provides international banking, multi-state deposit, and investment services, as well as out-of-service area services; telephone customer and on-line banking services; and foreign exchange services. As of January 31, 2015, it had 80 full-service branch offices and 62 other 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 Los Angeles, California.

1,443 Employees
Last Reported Date: 03/2/15
Founded in 1999

pacwest bancorp (PACW) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $754.2K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $539.1K
Executive Vice President, Director, Member of...
Total Annual Compensation: $554.5K
Chief Credit Officer, Executive Vice Presiden...
Total Annual Compensation: $375.6K
Executive Vice President, Director of Human R...
Total Annual Compensation: $299.0K
Compensation as of Fiscal Year 2014.

pacwest bancorp (PACW) Key Developments

PacWest Bancorp Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Charge-Offs for the Second Quarter Ended June 30, 2015; Provides Effective Tax Rate Guidance for the Year 2015

PacWest Bancorp reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total interest income of $218,455,000 compared to $204,363,000 a year ago. Net interest income was $202,552,000 compared to $192,533,000 a year ago. Earnings from continuing operations before taxes were $130,370,000 compared to $26,782,000 a year ago. Net earnings were $85,083,000 or $0.83 per basic and diluted share compared to $10,555,000 or $0.10 per basic and diluted share a year ago. Return on average assets was 2.07% compared to 0.28% a year ago. Return on average equity was 9.62% compared to 1.31% a year ago. Adjusted return on average assets was 1.77% compared to 1.67% a year ago. Adjusted return on average equity was 8.19% compared to 7.75% a year ago. Adjusted pre-tax earnings were $116,941,000 compared to $105,319,000 a year ago. Adjusted net earnings were $72,503,000 compared to $62,454,000 a year ago. Adjusted net revenues were $207,858,000 compared to $194,643,000 a year ago. The increase in adjusted net earnings is largely the result of higher adjusted noninterest income and a lower provision for credit losses as compared to the first quarter. Adjusted diluted earnings per share was $0.70 compared to $0.63 a year ago. For the six months period, the company reported total interest income of $432,769,000 compared to $292,723,000 a year ago. Net interest income was $401,627,000 compared to $278,548,000 a year ago. Earnings from continuing operations before taxes were $249,522,000 compared to $67,968,000 a year ago. Net earnings were $158,162,000 or $1.54 per basic and diluted share compared to $35,635,000 or $0.49 per basic and diluted share a year ago. Adjusted pre-tax earnings were $221,846,000 compared to $143,024,000 a year ago. Adjusted net earnings were $137,545,000 compared to $84,813,000 a year ago. Return on average assets was 1.95% compared to 0.67% a year ago. Return on average equity was 9.01% compared to 3.54% a year ago. Adjusted return on average assets was 1.69% compared to 1.58% a year ago. Adjusted return on average equity was 7.83% compared to 8.41% a year ago. Adjusted net revenues were $411,576,000 compared to $282,696,000 a year ago. Book value per share as at June 30, 2015 was $34.46 compared to $33.37 a year ago. Adjusted diluted earnings per share were $1.33 compared to $1.16 a year ago. The company reported charge-offs of $623,000 for the second quarter ended June 30, 2015 compared to $10,490,000 for the last quarter ended March 31, 2015. The company expects that the effective tax rate for calendar year 2015 will be approximately 38.0%.

PacWest Bancorp Declares Quarterly Dividend, Payable on June 4, 2015

PacWest Bancorp announced that its Board of Directors has declared a quarterly cash dividend of $0.50 per common share. The cash dividend is payable on June 4, 2015 to stockholders of record at the close of business on May 26, 2015.

Square 1 Financial Inc. and PacWest Bancorp Faces Stockholder Class-Action Lawsuit to Block their Proposed Merger

Square 1 Financial Inc. and PacWest Bancorp are facing a stockholder class-action lawsuit seeking to block their proposed merger. The lawsuit filed by David Lakowitz, individually and on behalf of all others similarly situated public stockholders of Square 1 - accuses Square 1's board of breaching their fiduciary duties. It also accuses Square 1 and PacWest Bancorp, for aiding and abetting such. Filed May 6 in the U.S. District Court for the Middle District of North Carolina, the lawsuit claims that the merger consideration fails to adequately compensate Square 1 stockholders, noting Square 1's size, recent financial performance and expectations of continued growth. The plaintiff also noted that the merger consideration is not protected by a collar that would limit the downside risk of a fall in PacWest stock price. He also claims that the proposed merger is ‘the product of a flawed process that was designed to ensure the sale of Square 1 to PacWest on terms preferential to the defendants and other Square 1 insiders’ and which subvert the interests of public stockholders of Square 1.

 

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PACW Competitors

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Industry Analysis

PACW

Industry Average

Valuation PACW Industry Range
Price/Earnings 16.4x
Price/Sales 5.8x
Price/Book 1.3x
Price/Cash Flow 16.2x
TEV/Sales 4.5x
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