Keefe, Bruyette & Woods Reports PacWest Beats Street

According to Keefe, Bruyette & Woods, PacWest Bancorp PACW beat the Street by $0.08, largely driven by net FDIC income & lower provision. Keefe, Bruyette & Woods said that it is raising its '11 EPS estimate to incorporate the beat. “We have reassessed our loan growth & NIM assumptions and lowered both as a result of 2Q11 loan run-off and competitive pressures on NIM, and thus are lowering our '12 estimate to $1.45 from $1.60 & '13 EPS estimate to $1.75 from $1.85.” PacWest Bancorp closed yesterday at $19.75.