PacWest Bancorp (NASDAQ:PACW) retreated its position after shares change of 0.63% on Wednesday and it traded at $50.06. The 52-week high of the share price is -12.98% and 52-week low of the share price is 16.21%.
Pacific Western Bank, the wholly-owned banking subsidiary of PacWest Bancorp (NASDAQ:PACW), is increasing its hourly minimum wage to $15 effective January 1, 2018. The wage increase affects around 100 workers, 5% of the Company’s employee base, most of whom work and live in Southern California, an area known for a high cost of living.
President and CEO Matthew Wagner said, “As we reviewed our compensation plans, we recognized the opportunity to provide a important benefit to a portion of our employees and we are excited to implement it quickly.” Prior to this increase, Pacific Western Bank’s hourly minimum wage was $12.
The shares performance of PACW was 10.68% for the last one month and 0.69% in the previous week, whereas year to date performance was calculated -8.61%. The goal of share performance is to compare managers to the interests of shareholders. Their goal is alike to employee stock-option plans, as they offer an explicit incentive for management to focus their efforts on maximizing shareholder value. When calculating in the EPS estimates for the current year from sell-side analysts, the Price to current year EPS stands at 3.80%. Investors looking further ahead will note that the Price to next year’s EPS is 4.27%.
In latest trading session, Pareteum Corporation (NYSE:TEUM) Dropped -7.14% with 28.82 Million trading volume. Pareteum Corporation (NYSE:TEUM) revealed that it has completed development enabling it to add support of Blockchain technology to its billing and settlement services. This newest service capability enables Pareteum consumers to participate in the transformational “Digital Economy Monetization to the Cloud” and now accept and process Bitcoin, Ethereum, Litecoin, Airtokens and other forms of cryptocurrencies.
According to Coinschedule, $287 million of cryptocurrency transactions or 7.8% of ICOs involved payments in 2017. This evolution kickoff in 2016, noted Coinschedule, within the mobile payment industry with more than 50% of mobile users making a mobile payment, and it has continued in 2017 with the market expanding to $60 billion in mobile payments. Perhaps the biggest disrupter may be the technology behind digital currency. Blockchain has been noted as the potential foundation for building a new generation of transactional applications that establish trust and transparency while streaming business processes, which is critical to advancing adoption of mobile payments among consumers and businesses.
The new feature being offered to all Pareteum’s Worldwide Mobility Cloud consumers will allow them to not only accept the cryptocurrencies but also to perform payment processing and settlements with their partners in any currency. For example, in the case of Smart Cities in emerging markets, creation of their own local cryptocurrencies is now a reality, facilitating primary economic benefit with the cities for their citizens. Last year, Pareteum reported a partnership with Airfox to integrate their advertising subsidy platform into the Application Exchange and Developer’s Platform exchange based on the requirement for advertising to subsidize the costs of growing data service usage. Since then subsidies have gone beyond advertising and into micro-loans and cryptocurrency as the mobile phone penetrates more of daily life.
TEUM has the current ratio of 0.20 for the most latest quarter. As concerns shares volumes, in share Capital Company has 31.18 million outstanding shares among them 19.19 million shares have been floated in market exchange. The firm’s institutional ownership remained 10.20% while insider ownership included 6.80%.