Market Overview

PacWest Bancorp: Q2 Earnings Insights

Share:

Shares of PacWest Bancorp (NASDAQ:PACW) were unchanged after the company reported Q2 results.

Quarterly Results

Earnings per share fell 73.83% year over year to $0.28, which missed the estimate of $0.44.

Revenue of $293,137,000 declined by 5.98% from the same period last year, which beat the estimate of $278,540,000.

Looking Ahead

PacWest Banc hasn't issued any earnings guidance for the time being.

PacWest Banc hasn't issued any revenue guidance for the time being.

Technicals

52-week high: $40.14

Company's 52-week low was at $13.84

Price action over last quarter: Up 16.78%

Company Description

PacWest Bancorp is a bank holding company with one wholly owned banking subsidiary, Pacific Western Bank. The bank has tens of full-service branches mostly located throughout California. The bank provides commercial banking services, including real estate, construction, and commercial loans, as well as comprehensive deposit and treasury management services, to small and midsize businesses. The bank also offers additional products and services targeting established middle-market and entrepreneurial businesses under the brands of its business groups, CapitalSource and Square 1 Bank, respectively. About a third of the bank's loan portfolio is concentrated in commercial real estate mortgages. The vast majority of the bank's net revenue comes from net interest income.

 

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Posted-In: Earnings News

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