PacWest Bancorp (NASDAQ:PACW) shares, rose in value on Thursday, 05/25/23, with the stock price down by -5.42% to the previous day’s close as strong demand from buyers drove the stock to $6.81.
Actively observing the price movement in the last trading, the stock closed the session at $7.20, falling within a range of $6.55 and $7.20. The value of beta (5-year monthly) was 1.36. Referring to stock’s 52-week performance, its high was $32.68, and the low was $2.48. On the whole, PACW has fluctuated by -38.54% over the past month.
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With the market capitalization of PacWest Bancorp currently standing at about $819.24 million, investors are eagerly awaiting this quarter’s results, scheduled for Jul 18, 2023 – Jul 24, 2023. The company’s Forward Dividend Ratio is 0.04, with its dividend yield at 0.59%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.25, which is expected to increase to $0.49 for fiscal year $1.56 and then to about $1.81 by fiscal year 2024. Data indicates that the EPS growth is expected to be -56.10% in 2024, while the next year’s EPS growth is forecast to be 16.00%.
Analysts have estimated the company’s revenue for the quarter at $242.86 million, with a low estimate of $229 million and a high estimate of $256.34 million. According to the average forecast, sales growth in current quarter could jump down -32.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $1.06 billion, representing a decrease of -22.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that PACW’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of PACW currently trading nearly 6.52% and -21.93% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 46.47, while the 7-day volatility ratio is showing 14.91% which for the 30-day chart, stands at 23.99%. Furthermore, PacWest Bancorp (PACW)’s beta value is 1.41, and its average true range (ATR) is 1.28.
A comparison of PacWest Bancorp (PACW) with its peers suggests the former has fared considerably weaker in the market. PACW showed an intraday change of -5.42% in last session, and over the past year, it shrunk by -76.69%%. On the other hand, the price of United Security Bancshares (UBFO) has risen 5.37% on the day. The stock, however, is off -14.85% from where it was a year ago. Additionally, there is a gain of 0.07% for Wells Fargo & Company (WFC) in last trading while the stock has seen an overall depriciation of -5.52%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.88%. Meanwhile, the Dow Jones Industrial Slipped by -0.11%.
Data on historical trading for PacWest Bancorp (NASDAQ:PACW) indicates that the trading volumes over the past 10 days have averaged 40.14 million and over the past 3 months, they’ve averaged 30.82 million. According to company’s latest data on outstanding shares, there are 117.93 million shares outstanding.
Nearly 1.10% of PacWest Bancorp’s shares belong to company insiders and institutional investors own 95.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 27.85 million shares as on May 14, 2023, resulting in a short ratio of 0.69. According to the data, the short interest in PacWest Bancorp (PACW) stood at 23.16% of shares outstanding as of May 14, 2023; the number of short shares registered in Apr 13, 2023 reached 21.11 million. The stock has fallen by -70.33% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PACW stock heading into the next quarter.