Benzinga | Jul 19, 2021 04:48PM EDT

Recap: PacWest Banc Q2 Earnings

Shares of PacWest Banc (NASDAQ:PACW) were flat in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 442.86% over the past year to $1.52, which beat the estimate of $0.97.

Revenue of $306,679,000 rose by 4.62% year over year, which beat the estimate of $304,680,000.

Outlook

PacWest Banc hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Recent Stock Performance

Company's 52-week high was at $46.75

52-week low: $15.62

Price action over last quarter: down 9.15%

Company Description

PacWest Bancorp is a bank holding company with one wholly owned banking subsidiary, Pacific Western Bank. The bank has tens of full-service branches mostly located throughout California. The bank provides commercial banking services, including real estate, construction, and commercial loans, as well as comprehensive deposit and treasury management services, to small and midsize businesses. The bank also offers additional products and services targeting established middle-market and entrepreneurial businesses under the brands of its business groups, CapitalSource and Square 1 Bank, respectively. About a third of the bank's loan portfolio is concentrated in commercial real estate mortgages. The vast majority of the bank's net revenue comes from net interest income.