PACW Stock Recent News

PacWest Bancorp's shares rose nearly 38% in premarket trading on Wednesday, a day after smaller rival Banc of California agreed to buy the lender for $1.1 billion.

While the top- and bottom-line numbers for PacWest (PACW) give a sense of how the business performed in the quarter ended June 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

PacWest Bancorp (PACW) came out with quarterly earnings of $0.22 per share, beating the Zacks Consensus Estimate of $0.18 per share. This compares to earnings of $1.02 per share a year ago.

PacWest Bancorp is set to merge with Banc of California in a $400 million equity deal, according to a joint announcement the banks released Tuesday afternoon, ahead of their second-quarter earnings results.

PacWest Bancorp could deliver a strong Q2 report on July 25, 2023 due to recovering deposit flows. The bank has seen a return of deposits after losing 17% in Q1, with $700M in deposit inflows reported after the end of the first quarter. PacWest Bancorp also sold assets in Q2 which provided additional liquidity and reduced lending risks.

PacWest Bancorp PACW, +8.50% is down 0.3% as one of the most active stocks in premarket trades on Wednesday with volume of 164,000 shares, according to the MarketWatch Premarket Screener. PacWest is due to report its second-quarter results on July 25, with analysts currently expecting a loss of 66 cents a share for the bank, according to FactSet data.

Bank of America and Morgan Stanley reported second-quarter earnings this morning. PacWest has been an extremely volatile bank stock since the banking crisis and appears to be benefitting from renewed optimism in the sector.

Few personality traits are as insufferable as dwelling on past errors, which may be how some folks perceive the worst bank stocks. Earlier this year, the regional banking sector suffered a crisis as post-pandemic developments suddenly converted to massive headwinds.

JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. kick off second-quarter earnings season Friday after one of the choppiest three-month periods for the banking sector since the global financial crisis.

LOS ANGELES, July 07, 2023 (GLOBE NEWSWIRE) -- PacWest Bancorp (Nasdaq: PACW) (the “Company” or “PacWest”) will report its financial results for the quarter and year-to-date period ended June 30, 2023 after the close of the stock market on Tuesday, July 25, 2023. The Company will file its quarterly financial results with the SEC via Form 8-K and issue a press release via newswire, which will also be posted on the SEC Filings section of its website at http://www.pacwestbancorp.com. Management will host a conference call at 8:00 AM PT/ 11:00 AM ET on Wednesday, July 26, 2023 to discuss the Company's performance.