Streetbeat News

PACW

Pacwest Bancorp

http://www.pacwestbancorp.com/

CEO

Matthew Wagner

Employees

14

Industry

Commercial Banking

pacwest bancorp is a banking company located in 10250 constellation blvd, suite 1640, los angeles, ca, united states.

Open

7.92

Mkt cap

905M

Volume

24M

High

8.00

P/E Ratio

-0.63

52-wk high

30.07

Low

7.46

Div yield

N/A

52-wk low

2.48

The article discusses the strategy of betting against regional banks now that the Federal Reserve's Bank Term Funding Program (BTFP) has expired and rate cuts are delayed due to persistent inflation. The author previously made profits betting against Bank of Hawaii Corporation (BOH) and First Foundation, Inc. (FFWM), and added bearish positions on PacWest Bancorp (PACW) and Western Alliance Bancorporation (WAL). The strategy involves using a screening process to identify weak banks for potential shorting opportunities.

Portfolio Pulse from David Pinsen

May 09, 2024 | 1:48 pm

PacWest Banc (NASDAQ:PACW) is distributing a dividend of $0.01 per share with an annualized yield of 0.56%. Shareholders eligible for the payout were those holding shares before the ex-dividend date of November 10, 2023. The company's dividend per share has decreased from $2.40 in 2019 to $1.00 in 2022, while earnings per share have grown from $3.84 to $4.19 over the same period. This suggests a shift in strategy towards reinvesting profits rather than higher dividend payouts. Provident Finl Servs (NYSE:PFS) has a higher annualized dividend yield of 6.32% compared to PacWest Banc.

Portfolio Pulse from Benzinga Insights

November 27, 2023 | 3:05 pm

Banc of California and PacWest Bancorp have received approval from their stockholders for a merger. The transaction is anticipated to close around November 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 9:16 pm

Bank and financial services stocks, including major institutions, are experiencing an uptick following the release of October CPI data indicating inflation was not as high as anticipated. This has contributed to a broader market rally as lower inflation could signal a less aggressive stance on interest rate hikes by the Federal Reserve, which is typically positive for stocks.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 7:38 pm

Banking and financial services stocks are trading higher due to overall market strength. This is attributed to a drop in Treasury yields and the Fed's recent rate decision.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 7:20 pm

Bill Gross, co-founder of PIMCO, has expressed interest in regional banks, seeing them as a long-term investment opportunity. He previously bought stocks of Western Alliance Bancorp, Synovus Financial Corp, PacWest Bancorp, and SPDR S&P Regional Banking ETF, selling off 80% of the holding in July. He has indicated a renewed interest in regional banks. The article also highlights three regional bank ETFs: SPDR S&P Regional Banking ETF, iShares U.S. Regional Banks ETF, and Invesco KBW Regional Banking ETF.

Portfolio Pulse from Surbhi Jain

October 31, 2023 | 5:21 pm

Wedbush analyst David Chiaverini has maintained a Neutral rating on PacWest Banc (NASDAQ:PACW) and lowered the price target from $8 to $7.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 1:52 pm

The article lists the stocks that have gained and lost the most in Tuesday's mid-day session. Some of the top gainers include InMed Pharmaceuticals, LianBio, Ascent Solar Technologies, and Falcon's Beyond Global. On the other hand, reAlpha Tech Corp, LumiraDx Limited, INVO Bioscience, and Markforged Holding Corporation were among the biggest losers.

Portfolio Pulse from Lisa Levin

October 24, 2023 | 6:12 pm

S&P Global Ratings has reported that credit and funding costs are impacting the Q3 earnings of US regional banks. The report suggests that these factors could lead to a decrease in profitability for these banks.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 3:26 pm

PacWest Banc reported Q3 losses of $(0.31) per share, missing the analyst consensus estimate of $0.06 by 616.67%. The company's quarterly sales of $174.54 million also missed the analyst consensus estimate of $206.96 million by 15.67%. This represents a 130.39% decrease in earnings and a 53.31% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 10:04 am

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