BEVERLY HILLS, Calif. (AP) — BEVERLY HILLS, Calif. (AP) — PacWest Bancorp (PACW) on Tuesday reported a loss of $23.3 million in its third quarter.
The Beverly Hills, California-based bank said it had a loss of 28 cents per share. Losses, adjusted for non-recurring gains, came to 31 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The holding company for Pacific Western Bank posted revenue of $489.9 million in the period. Its revenue net of interest expense was $174.5 million, which also did not meet Street forecasts.
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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