|Bid||39.53 x 800|
|Ask||39.49 x 900|
|Day's Range||38.64 - 39.77|
|52 Week Range||14.53 - 42.59|
|Beta (5Y Monthly)||1.58|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 19, 2021 - Apr 23, 2021|
|Forward Dividend & Yield||1.00 (2.51%)|
|Ex-Dividend Date||Feb 26, 2021|
|1y Target Est||45.11|
PacWest (PACW) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
PacWest (PACW) seals deal to acquire MUFG Union Bank, N.A.'s HOA Services Division, in order to better cater to the specialized banking needs of community management companies and its HOA clients.
Shares of PacWest Bancorp increased 3.3% on April 1 after the bank’s subsidiary, Pacific Western Bank, inked a deal to acquire MUFG Union Bank, N.A.’s Homeowners Association (HOA) Services Division. PacWest (PACW) CEO Matt Wagner said, “We are very pleased to announce this acquisition, which we believe will significantly enhance our position catering to the specialized banking needs of community management companies and the HOA clients they serve. This HOA business, under the continuing leadership of Kimberly Siebler and her team, will provide Pacific Western Bank with what we believe is a robust HOA banking services technology platform and an experienced and accomplished team in an important niche market segment.” Per the terms of the deal, certain assets and liabilities of the HOA Services Division will be acquired by Pacific Western Bank for a premium of 5.9% on deposits plus the net book values of certain assumed assets and liabilities for $250 million in cash. Notably, the final consideration will be based on balances at the closure of the deal. Furthermore, the existing management team and employees of the HOA Services Division, a provider of specialized HOA banking services to clients with about $4 billion in deposits, will join Pacific Western Bank. The acquisition, which awaits regulatory approvals, is anticipated to close in the fourth quarter of 2021. (See PacWest Bancorp stock analysis on TipRanks) The bank said that the acquisition will complement the bank’s strategy in expanding its product offerings to its customers and diversifying its revenue and funding sources. On April 1, Wedbush analyst David Chiaverini lifted the price target to $45 (14.2% upside potential) from $43 and maintained a Hold rating. The rest of the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating. That’s based on 4 Buys and 3 Holds. The average analyst price target of $39.33 implies that shares are almost fully valued at current levels. Related News: McCormick’s 1Q Results Beat Expectations As Sales Outperform CarMax’s Quarterly Profit Beats Analysts’ Expectations; Shares Tank 7% Franklin Covey Posts Smaller-Than-Feared 2Q Loss But Sales Disappoint; Shares Tank After-Hours More recent articles from Smarter Analyst: Turtle Beach Extends Share BuyBack Program To $25 Million; Street Is Bullish Northwest Bank To Divest Insurance Business Macerich Sells Paradise Valley Mall For $100M Resideo Technologies Gains 5% On Norfolk Acquisition