PacWest Bancorp (NASDAQ:PACW) has earned an average recommendation of “Hold” from the fifteen brokerages that are covering the company, Marketbeat reports. Ten equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $54.70.
Several research firms have weighed in on PACW. Zacks Investment Research lowered shares of PacWest Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. BidaskClub raised shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. B. Riley reissued a “neutral” rating and set a $55.00 price target (up previously from $52.00) on shares of PacWest Bancorp in a report on Monday, January 22nd. BMO Capital Markets boosted their price target on shares of PacWest Bancorp to $56.00 and gave the company a “market perform” rating in a report on Friday, January 19th. Finally, DA Davidson reissued a “buy” rating and set a $59.00 price target on shares of PacWest Bancorp in a report on Friday, January 19th.
Shares of PacWest Bancorp (NASDAQ:PACW) opened at $53.74 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.19. PacWest Bancorp has a 12 month low of $43.08 and a 12 month high of $57.53. The firm has a market cap of $7,005.79, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.57 and a beta of 1.52.
PacWest Bancorp (NASDAQ:PACW) last released its earnings results on Thursday, January 18th. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). PacWest Bancorp had a net margin of 30.12% and a return on equity of 7.65%. The business had revenue of $289.75 million for the quarter, compared to the consensus estimate of $297.74 million. During the same quarter in the previous year, the firm earned $0.71 EPS. equities research analysts forecast that PacWest Bancorp will post 3.46 EPS for the current year.
PacWest Bancorp declared that its Board of Directors has initiated a stock repurchase plan on Thursday, November 16th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, February 16th. PacWest Bancorp’s dividend payout ratio (DPR) is 68.49%.
In other news, Director Daniel B. Platt sold 7,000 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $53.61, for a total transaction of $375,270.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.98% of the company’s stock.
A number of hedge funds have recently bought and sold shares of PACW. SWS Partners acquired a new stake in PacWest Bancorp in the fourth quarter worth about $110,000. Captrust Financial Advisors acquired a new stake in PacWest Bancorp in the fourth quarter worth about $111,000. Steward Partners Investment Advisory LLC acquired a new stake in PacWest Bancorp in the third quarter worth about $122,000. Cerebellum GP LLC acquired a new stake in PacWest Bancorp in the fourth quarter worth about $135,000. Finally, Bessemer Group Inc. acquired a new stake in PacWest Bancorp in the fourth quarter worth about $144,000. 84.29% of the stock is owned by institutional investors and hedge funds.
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About PacWest Bancorp
PacWest Bancorp is a bank holding company for Pacific Western Bank (the Bank). The Company is focused on relationship-based business banking to small, middle-market and venture-backed businesses. As of October 23, 2017, the Bank offered a range of loan and deposit products and services through 83 branches located throughout the state of California, one branch located in Durham, North Carolina, and several loan production offices located in cities across the country.
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