PacWest Bancorp reported $174.54 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 53.3%. EPS of -$0.31 for the same period compares to $1.02 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $213.95 million, representing a surprise of -18.42%. The company delivered an EPS surprise of -720.00%, with the consensus EPS estimate being $0.05.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how PacWest performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 108.5% versus 84.1% estimated by three analysts on average.
- Net charge-offs to average loans and leases: 0.1% compared to the 0.1% average estimate based on three analysts.
- Net Interest Margin: 1.5% compared to the 1.9% average estimate based on three analysts.
- Average balance - Total interest-earning assets: $35.79 billion compared to the $35.72 billion average estimate based on three analysts.
- Net Interest Income: $130.73 million versus the three-analyst average estimate of $168.93 million.
- Total Non-Interest Income: $43.81 million versus $38.03 million estimated by three analysts on average.
- Net Interest Income (FTE): $130.73 million versus the three-analyst average estimate of $169.90 million.
- Other commissions and fees: $7.64 million compared to the $11 million average estimate based on two analysts.
- Leased equipment income: $14.55 million versus the two-analyst average estimate of $22 million.
- Service charges and fees on deposit accounts: $4.02 million compared to the $4 million average estimate based on two analysts.
View all Key Company Metrics for PacWest here>>>Shares of PacWest have returned -6.4% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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PacWest (PACW) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
PacWest Bancorp reported $174.54 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 53.3%. EPS of -$0.31 for the same period compares to $1.02 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $213.95 million, representing a surprise of -18.42%. The company delivered an EPS surprise of -720.00%, with the consensus EPS estimate being $0.05.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how PacWest performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 108.5% versus 84.1% estimated by three analysts on average.
- Net charge-offs to average loans and leases: 0.1% compared to the 0.1% average estimate based on three analysts.
- Net Interest Margin: 1.5% compared to the 1.9% average estimate based on three analysts.
- Average balance - Total interest-earning assets: $35.79 billion compared to the $35.72 billion average estimate based on three analysts.
- Net Interest Income: $130.73 million versus the three-analyst average estimate of $168.93 million.
- Total Non-Interest Income: $43.81 million versus $38.03 million estimated by three analysts on average.
- Net Interest Income (FTE): $130.73 million versus the three-analyst average estimate of $169.90 million.
- Other commissions and fees: $7.64 million compared to the $11 million average estimate based on two analysts.
- Leased equipment income: $14.55 million versus the two-analyst average estimate of $22 million.
- Service charges and fees on deposit accounts: $4.02 million compared to the $4 million average estimate based on two analysts.
View all Key Company Metrics for PacWest here>>>Shares of PacWest have returned -6.4% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.