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PacWest Bancorp

Nasdaq:PACW
Snowflake Description

Flawless balance sheet, good value and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PACW
Nasdaq
$4B
Market Cap
  1. Home
  2. US
  3. Banks
Company description

PacWest Bancorp operates as the holding company for Pacific Western Bank, a state chartered bank that provides commercial banking products and services. The last earnings update was 2 days ago. More info.


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PACW Share Price and Events
7 Day Returns
-0.9%
NasdaqGS:PACW
-1%
US Banks
0.6%
US Market
1 Year Returns
-26.3%
NasdaqGS:PACW
-6.5%
US Banks
4.1%
US Market
PACW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PacWest Bancorp (PACW) -0.9% -3.7% -5.3% -26.3% -8.4% -10.6%
US Banks -1% 2.4% -1.5% -6.5% 44.7% 46%
US Market 0.6% 3.8% 2.8% 4.1% 37.3% 42.5%
1 Year Return vs Industry and Market
  • PACW underperformed the Banks industry which returned -6.5% over the past year.
  • PACW underperformed the Market in United States of America which returned 4.1% over the past year.
Price Volatility
PACW
Industry
5yr Volatility vs Market

PACW Value

 Is PacWest Bancorp undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of PacWest Bancorp to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for PacWest Bancorp.

NasdaqGS:PACW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 7 analysts.
= Stable Book Value * Return on Equity
= $41.77 * 9.3%
$3.88
Book Value of Equity per Share Weighted future Book Value estimates from 10 analysts. $41.77
Discount Rate (Cost of Equity) See below 8.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:PACW
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.594 (1 + (1- 21%) (53.8%))
0.897
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.9
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.897 * 5.96%)
8.08%

Discounted Cash Flow Calculation for NasdaqGS:PACW using Excess Returns Model Model

The calculations below outline how an intrinsic value for PacWest Bancorp is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:PACW Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.3% – 8.08%) * $41.77)
$0.50
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.50 / (8.08% - 2.73%)
$9.38
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $41.77 + $9.38
$51.14
NasdaqGS:PACW Discount to Share Price
Calculation Result
Value per share (USD) From above. $51.14
Current discount Discount to share price of $37.13
= -1 x ($37.13 - $51.14) / $51.14
27.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price PacWest Bancorp is available for.
Intrinsic value
27%
Share price is $37.13 vs Future cash flow value of $51.14
Current Discount Checks
For PacWest Bancorp to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • PacWest Bancorp's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • PacWest Bancorp's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for PacWest Bancorp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PacWest Bancorp's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:PACW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $3.86
NasdaqGS:PACW Share Price ** NasdaqGS (2019-07-17) in USD $37.13
United States of America Banks Industry PE Ratio Median Figure of 593 Publicly-Listed Banks Companies 12.75x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.98x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of PacWest Bancorp.

NasdaqGS:PACW PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:PACW Share Price ÷ EPS (both in USD)

= 37.13 ÷ 3.86

9.61x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PacWest Bancorp is good value based on earnings compared to the US Banks industry average.
  • PacWest Bancorp is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does PacWest Bancorp's expected growth come at a high price?
Raw Data
NasdaqGS:PACW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.61x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
-3%per year
United States of America Banks Industry PEG Ratio Median Figure of 270 Publicly-Listed Banks Companies 1.28x
United States of America Market PEG Ratio Median Figure of 2,122 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

NasdaqGS:PACW PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.61x ÷ -3%

-3.21x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PacWest Bancorp earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on PacWest Bancorp's assets?
Raw Data
NasdaqGS:PACW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $40.49
NasdaqGS:PACW Share Price * NasdaqGS (2019-07-17) in USD $37.13
United States of America Banks Industry PB Ratio Median Figure of 593 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,241 Publicly-Listed Companies 1.81x
NasdaqGS:PACW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:PACW Share Price ÷ Book Value per Share (both in USD)

= 37.13 ÷ 40.49

0.92x

* Primary Listing of PacWest Bancorp.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PacWest Bancorp is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess PacWest Bancorp's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. PacWest Bancorp has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

PACW Future Performance

 How is PacWest Bancorp expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PacWest Bancorp expected to grow at an attractive rate?
  • PacWest Bancorp's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • PacWest Bancorp's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • PacWest Bancorp's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:PACW Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:PACW Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts -3%
NasdaqGS:PACW Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 1.7%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 2.7%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:PACW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 weeks ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:PACW Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 1,188 447 8
2019-12-31 1,168 461 8
NasdaqGS:PACW Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 1,155 467
2019-03-31 1,135 624 455
2018-12-31 1,145 608 460
2018-09-30 1,145 590 429
2018-06-30 1,117 605 415
2018-03-31 1,091 477 393
2017-12-31 1,042 484 354
2017-09-30 1,021 509 355
2017-06-30 1,016 493 348
2017-03-31 992 592 336
2016-12-31 1,008 581 348
2016-09-30 994 621 335

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PacWest Bancorp's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • PacWest Bancorp's revenue is expected to grow by 1.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:PACW Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 weeks ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from PacWest Bancorp Company Filings, last reported 2 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:PACW Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 3.81 4.00 3.60 11.00
2019-12-31 3.86 3.93 3.81 9.00
NasdaqGS:PACW Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 3.86
2019-03-31 3.72
2018-12-31 3.72
2018-09-30 3.44
2018-06-30 3.34
2018-03-31 3.19
2017-12-31 2.91
2017-09-30 2.96
2017-06-30 2.90
2017-03-31 2.80
2016-12-31 2.90
2016-09-30 2.79

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if PacWest Bancorp will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess PacWest Bancorp's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
PacWest Bancorp has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

PACW Past Performance

  How has PacWest Bancorp performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare PacWest Bancorp's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • PacWest Bancorp has delivered over 20% year on year earnings growth in the past 5 years.
  • PacWest Bancorp's 1-year earnings growth is less than its 5-year average (12.5% vs 20.6%)
  • PacWest Bancorp's earnings growth has not exceeded the US Banks industry average in the past year (12.5% vs 40.8%).
Earnings and Revenue History
PacWest Bancorp's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from PacWest Bancorp Company Filings, last reported 2 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:PACW Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 1,154.75 466.94 407.41
2019-03-31 1,135.43 454.50 407.87
2018-12-31 1,144.55 460.22 406.34
2018-09-30 1,144.60 429.49 407.10
2018-06-30 1,116.83 414.94 396.57
2018-03-31 1,090.61 393.13 388.34
2017-12-31 1,042.39 353.63 380.13
2017-09-30 1,021.03 355.18 372.66
2017-06-30 1,016.16 347.72 370.81
2017-03-31 992.48 336.46 366.87
2016-12-31 1,008.04 348.18 362.56
2016-09-30 994.34 334.70 352.54
2016-06-30 940.79 310.82 331.51
2016-03-31 914.59 313.86 313.27
2015-12-31 862.18 296.73 294.04
2015-09-30 824.02 295.81 276.23
2015-06-30 824.09 288.40 274.06
2015-03-31 802.73 215.00 269.80
2014-12-31 687.80 168.51 241.12
2014-09-30 561.14 101.75 213.34
2014-06-30 453.12 63.55 186.00
2014-03-31 328.62 56.98 155.43
2013-12-31 306.17 44.38 152.77
2013-09-30 302.25 60.11 149.37
2013-06-30 289.13 52.28 145.48
2013-03-31 291.76 62.98 146.48
2012-12-31 305.16 54.96 138.10
2012-09-30 295.55 49.15 143.85

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • PacWest Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • PacWest Bancorp used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if PacWest Bancorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess PacWest Bancorp's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
PacWest Bancorp has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

PACW Health

 How is PacWest Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of PacWest Bancorp's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from PacWest Bancorp Company Filings, last reported 2 weeks ago.

NasdaqGS:PACW Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 4,852.01 2,369.17 607.74
2019-03-31 4,790.98 1,935.55 482.12
2018-12-31 4,825.59 1,824.96 313.56
2018-09-30 4,741.69 1,966.11 302.59
2018-06-30 4,777.96 1,639.10 368.47
2018-03-31 4,867.49 1,027.51 463.40
2017-12-31 4,977.60 929.78 326.00
2017-09-30 4,610.67 698.53 270.02
2017-06-30 4,559.91 663.20 287.48
2017-03-31 4,508.11 903.13 296.50
2016-12-31 4,479.06 1,346.56 351.97
2016-09-30 4,542.60 982.12 540.37
2016-06-30 4,513.30 1,357.53 445.35
2016-03-31 4,456.59 990.12 519.52
2015-12-31 4,397.69 1,057.91 368.79
2015-09-30 3,581.70 987.91 236.29
2015-06-30 3,551.49 436.70 640.63
2015-03-31 3,533.36 1,049.60 391.85
2014-12-31 3,506.23 816.99 303.23
2014-09-30 3,478.25 797.22 260.86
2014-06-30 3,437.93 439.47 363.37
2014-03-31 833.70 138.54 342.09
2013-12-31 809.09 246.37 134.32
2013-09-30 816.29 140.74 144.02
2013-06-30 801.70 142.05 218.83
2013-03-31 589.80 119.45 131.68
2012-12-31 589.12 120.84 159.40
2012-09-30 584.09 126.25 160.41
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • PacWest Bancorp has an acceptable proportion of non-loan assets held.
  • PacWest Bancorp's liabilities are made up of primarily low risk sources of funding.
  • Loans at PacWest Bancorp are broadly funded by customer deposits.
  • PacWest Bancorp's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • PacWest Bancorp has a sufficient allowance for bad loans.
  • PacWest Bancorp has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess PacWest Bancorp's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. PacWest Bancorp has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

PACW Dividends

 What is PacWest Bancorp's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.46%
Current annual income from PacWest Bancorp dividends. Estimated to be 6.56% next year.
If you bought $2,000 of PacWest Bancorp shares you are expected to receive $129 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • PacWest Bancorp's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
  • PacWest Bancorp's dividend is above the markets top 25% of dividend payers in United States of America (3.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:PACW Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 479 Stocks 3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:PACW Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 2.46 10.00
2019-12-31 2.40 8.00
NasdaqGS:PACW Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-01 2.400 6.289
2019-02-01 2.400 6.080
2018-11-01 2.400 6.457
2018-08-01 2.400 5.035
2018-04-24 2.400 4.595
2018-02-01 2.000 3.897
2017-11-01 2.000 4.093
2017-08-01 2.000 4.253
2017-05-01 2.000 4.181
2017-02-01 2.000 3.753
2016-11-01 2.000 3.843
2016-08-01 2.000 4.712
2016-07-15 2.000 4.883
2016-02-01 2.000 5.358
2015-11-02 2.000 4.722
2015-08-06 2.000 4.568
2015-05-13 2.000 4.293
2015-02-11 2.000 4.349
2014-11-05 2.000 4.431
2014-08-06 1.000 2.414
2014-06-02 1.000 2.360
2014-02-12 1.000 2.406
2013-11-06 1.000 2.430
2013-08-07 1.000 2.848
2013-04-26 1.000 3.325
2013-02-13 1.000 3.603
2012-11-05 1.000 3.952
2012-08-08 0.720 3.074
2012-05-10 0.720 3.096
2012-02-09 0.720 3.090
2011-11-07 0.720 3.697
2011-08-10 0.040 0.255
2011-05-11 0.040 0.200
2011-02-16 0.040 0.187
2010-11-03 0.040 0.202
2010-08-11 0.040 0.218
2010-05-12 0.040 0.198
2010-02-17 0.040 0.180
2009-11-04 0.040 0.210
2009-08-12 0.040 0.215
2009-04-16 0.040 0.275
2009-02-04 1.280 9.137
2008-11-05 1.280 5.681

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of PacWest Bancorp's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess PacWest Bancorp's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can PacWest Bancorp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PacWest Bancorp has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

PACW Management

 What is the CEO of PacWest Bancorp's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Matt Wagner
COMPENSATION $6,238,560
AGE 62
TENURE AS CEO 18.8 years
CEO Bio

Mr. Matthew P. Wagner, also known as Matt, has been President and Chief Executive Officer of PacWest Bancorp and Pacific Western Bank. Mr. Wagner is a Director of PacWest Bancorp since 2000. Mr. Wagner also serves as Director of Pacific Western Bank . Mr. Wagner served as a Director of Guaranty Bancorp from 2004 to 2010. From 1996 to 1999, Mr. Wagner was President and Chief Executive Officer of Western Bancorp. Prior to this, Mr. Wagner served as an Executive Vice President with U.S. Bancorp in Minneapolis, Minnesota, from 1990 to 1996, and as a Senior Vice President, from 1985 to 1990.

CEO Compensation
  • Matt's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Matt's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the PacWest Bancorp management team in years:

3.9
Average Tenure
56.5
Average Age
  • The tenure for the PacWest Bancorp management team is about average.
Management Team

Matt Wagner

TITLE
President
COMPENSATION
$6M
AGE
62
TENURE
18.8 yrs

Pat Rusnak

TITLE
Executive VP & CFO
COMPENSATION
$2M
AGE
55
TENURE
3.9 yrs

Mark Yung

TITLE
Executive VP
COMPENSATION
$143K
AGE
45
TENURE
0.2 yrs

Jim Pieczynski

TITLE
Executive VP & Vice Chairman
COMPENSATION
$3M
AGE
56
TENURE
5.5 yrs

Bryan Corsini

TITLE
Chief Credit Officer & Executive VP
COMPENSATION
$2M
AGE
57
TENURE
5.5 yrs

Laird Boulden

TITLE
Executive VP & President of National Lending Group
COMPENSATION
$2M
AGE
61
TENURE
5.3 yrs

Bart Olson

TITLE
Executive VP & Chief Accounting Officer
AGE
50
TENURE
2.4 yrs

Kori Ogrosky

TITLE
Executive VP
AGE
49

Rebecca Cordes

TITLE
Executive Vice President of Human Resources
AGE
63
TENURE
0.6 yrs

Christopher Blake

TITLE
Executive VP
COMPENSATION
$2M
AGE
59
TENURE
1.5 yrs
Board of Directors Tenure

Average tenure and age of the PacWest Bancorp board of directors in years:

12.6
Average Tenure
62
Average Age
  • The average tenure for the PacWest Bancorp board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

John Eggemeyer

TITLE
Chairman of the Board
COMPENSATION
$292K
AGE
73
TENURE
19.1 yrs

Matt Wagner

TITLE
President
COMPENSATION
$6M
AGE
62
TENURE
19.5 yrs

Mark Yung

TITLE
Executive VP
COMPENSATION
$143K
AGE
45
TENURE
2.2 yrs

Jim Pieczynski

TITLE
Executive VP & Vice Chairman
COMPENSATION
$3M
AGE
56
TENURE
5.3 yrs

Robert Stine

TITLE
Director
COMPENSATION
$183K
AGE
72
TENURE
19.5 yrs

Susan Lester

TITLE
Director
COMPENSATION
$183K
AGE
62
TENURE
16.5 yrs

Craig Carlson

TITLE
Director
COMPENSATION
$183K
AGE
69
TENURE
8.7 yrs

Paul Burke

TITLE
Director
COMPENSATION
$183K
AGE
56
TENURE
3.8 yrs

Bill Hosler

TITLE
Lead Independent Director
COMPENSATION
$183K
AGE
56
TENURE
2.2 yrs

Daniel Platt

TITLE
Director
COMPENSATION
$143K
AGE
72
TENURE
16.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
29. Nov 18 Buy James Pieczynski Individual 28. Nov 18 28. Nov 18 10,000 $39.72 $397,187
02. Nov 18 Buy John Eggemeyer Individual 01. Nov 18 01. Nov 18 10,000 $41.23 $412,306
30. Oct 18 Buy Matthew Wagner Individual 29. Oct 18 29. Oct 18 20,925 $39.01 $816,201
17. Sep 18 Buy Tanya Acker Individual 14. Sep 18 14. Sep 18 1,000 $50.26 $50,259
X
Management checks
We assess PacWest Bancorp's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. PacWest Bancorp has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

PACW News

Simply Wall St News

Imagine Owning PacWest Bancorp (NASDAQ:PACW) And Wondering If The 30% Share Price Slide Is Justified

That downside risk was realized by PacWest Bancorp (NASDAQ:PACW) shareholders over the last year, as the share price declined 30%. … Check out our latest analysis for PacWest Bancorp While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. … Even though the PacWest Bancorp share price is down over the year, its EPS actually improved.

Simply Wall St -

What You Must Know About PacWest Bancorp's (NASDAQ:PACW) Beta Value

If you own shares in PacWest Bancorp (NASDAQ:PACW) then it's worth thinking about how it contributes to the volatility of your portfolio, overall. … If this beta value holds true in the future, PacWest Bancorp shares are likely to rise more than the market when the market is going up, but fall faster when the market is going down. … What this means for you: Since PacWest Bancorp tends to moves up when the market is going up, and down when it's going down, potential investors may wish to reflect on the overall market, when considering the stock.

Simply Wall St -

Is PacWest Bancorp's (NASDAQ:PACW) CEO Paid At A Competitive Rate?

Matt Wagner became the CEO of PacWest Bancorp (NASDAQ:PACW) in 2000. … This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Matt Wagner's Compensation Compare With Similar Sized Companies?

Simply Wall St -

You Have To Love PacWest Bancorp's (NASDAQ:PACW) Dividend

Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. … With PacWest Bancorp yielding 6.1% and having paid a dividend for over 10 years, many investors likely find the company quite interesting. … Some simple analysis can offer a lot of insight when buying a company for its dividend, and we'll go through these below.

Simply Wall St -

At US$39.86, Is PacWest Bancorp (NASDAQ:PACW) Worth Looking At Closely?

saw a significant share price rise of over 20% in the past couple of months on the NASDAQGS. … With many analysts covering the mid-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Let’s examine PacWest Bancorp’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

Why PacWest Bancorp (NASDAQ:PACW) May Not Be As Risky Than You Think

As a small-cap bank with a market capitalisation of US$4.3b, PacWest Bancorp’s (NASDAQ:PACW) profit and value are directly affected by economic activity. … Risk associate with repayment is measured by the level of bad debt which is an expense written off PacWest Bancorp’s bottom line. … Looking through a risk-lens is a useful way to assess the attractiveness of PacWest Bancorp's a stock investment.

Simply Wall St -

Those Who Purchased PacWest Bancorp (NASDAQ:PACW) Shares A Year Ago Have A 26% Loss To Show For It

Investors in PacWest Bancorp (NASDAQ:PACW) have tasted that bitter downside in the last year, as the share price dropped 26%. … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … During the unfortunate twelve months during which the PacWest Bancorp share price fell, it actually saw its earnings per share (EPS) improve by 28%.

Simply Wall St -

Is PacWest Bancorp's (NASDAQ:PACW) P/E Ratio Really That Good?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … PacWest Bancorp has a price to earnings ratio of 11.08, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

PacWest Bancorp (NASDAQ:PACW): Ex-Dividend Is In 2 Days

On the 28 February 2019, PacWest Bancorp (NASDAQ:PACW) will be paying shareholders an upcoming dividend amount of US$0.60 per share. … Is this future income stream a compelling catalyst for dividend investors to think about the stock as an investment today? … consistent, reliable and competitive dividend over a long period of time, and is expected to continue to pay in the same manner many years to come.

Simply Wall St -

Why PacWest Bancorp's (NASDAQ:PACW) CEO Pay Matters To You

Matt Wagner became the CEO of PacWest Bancorp (NASDAQ:PACW) in 2000. … This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Matt Wagner's Compensation Compare With Similar Sized Companies?

Simply Wall St -

PACW Company Info

Description

PacWest Bancorp operates as the holding company for Pacific Western Bank, a state chartered bank that provides commercial banking products and services. The company accepts demand, money market, and time deposits. It also provides real estate loans to professional developers and real estate investors for the acquisition, refinancing, and construction of commercial real estate properties; small business administration loans; asset-based loans for working capital needs; venture capital loans to support the start-up operations of entrepreneurial companies; and equipment-secured loans and leases. In addition, the company offers consumer loans comprising personal loans, auto loans, home equity lines of credit, revolving lines of credit, and other loans. Further, it provides international banking and multi-state deposit services; money market sweep products; investment advisory and asset management services; treasury and cash management services; telephone banking, and online and mobile banking services; and foreign exchange and ATM services. The company offers its products and services to small and mid-sized companies, entrepreneurial businesses and their venture capital, private equity investors, professionals, and other individuals. As of January 31, 2019, it had 74 full-service branches located throughout the state of California; and 1 branch in Durham, North Carolina. 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 Beverly Hills, California.

Details
Name: PacWest Bancorp
PACW
Exchange: NasdaqGS
Founded: 1999
$4,403,389,279
118,593,840
Website: http://www.pacwestbancorp.com
Address: PacWest Bancorp
9701 Wilshire Boulevard,
Suite 700,
Beverly Hills,
California, 90212,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS PACW Common Stock Nasdaq Global Select US USD 05. Jun 2000
DB F8B Common Stock Deutsche Boerse AG DE EUR 05. Jun 2000
Number of employees
Current staff
Staff numbers
1,833
PacWest Bancorp employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 00:23
End of day share price update: 2019/07/17 00:00
Last estimates confirmation: 2019/07/17
Last earnings filing: 2019/07/16
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.