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PacWest: 1Q Earnings Snapshot

BEVERLY HILLS, Calif. (AP) _ PacWest Bancorp (PACW) on Tuesday reported first-quarter profit of $112.6 million.

The Beverly Hills, California-based bank said it had earnings of 92 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The holding company for Pacific Western Bank posted revenue of $335.6 million in the period. Its revenue net of interest expense was $285.9 million, missing Street forecasts. Seven analysts surveyed by Zacks expected $291.9 million.

PacWest shares have risen 18 percent since the beginning of the year. The stock has dropped 19 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PACW at https://www.zacks.com/ap/PACW