BidaskClub lowered shares of PacWest Bancorp (NASDAQ:PACW) from a sell rating to a strong sell rating in a research note released on Tuesday morning.
Several other analysts have also recently commented on PACW. Sandler O’Neill restated a buy rating and issued a $59.00 target price on shares of PacWest Bancorp in a research report on Monday, June 25th. Zacks Investment Research cut PacWest Bancorp from a buy rating to a hold rating in a research report on Thursday, May 31st. ValuEngine cut PacWest Bancorp from a buy rating to a hold rating in a research report on Tuesday, March 20th. Raymond James upgraded PacWest Bancorp from a market perform rating to a strong-buy rating in a research report on Tuesday, April 10th. Finally, UBS Group upgraded PacWest Bancorp from a market perform rating to a strong-buy rating in a research report on Tuesday, April 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $55.64.
Shares of PacWest Bancorp opened at $49.67 on Tuesday, Marketbeat Ratings reports. PacWest Bancorp has a 1-year low of $43.08 and a 1-year high of $55.86. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.34 and a beta of 1.51.
PacWest Bancorp (NASDAQ:PACW) last posted its earnings results on Tuesday, April 17th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.80 by $0.13. PacWest Bancorp had a return on equity of 8.34% and a net margin of 32.53%. The firm had revenue of $295.06 million for the quarter, compared to analysts’ expectations of $288.49 million. During the same period last year, the firm earned $0.65 EPS. equities research analysts predict that PacWest Bancorp will post 3.69 EPS for the current fiscal year.
In other news, EVP Stanley R. Ivie sold 3,900 shares of PacWest Bancorp stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $51.98, for a total transaction of $202,722.00. Following the transaction, the executive vice president now directly owns 57,813 shares in the company, valued at approximately $3,005,119.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Bryan M. Corsini sold 7,500 shares of PacWest Bancorp stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $55.48, for a total value of $416,100.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,500 shares of company stock worth $4,287,785. 1.01% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PACW. SWS Partners bought a new stake in shares of PacWest Bancorp during the 4th quarter worth $110,000. Captrust Financial Advisors bought a new stake in shares of PacWest Bancorp during the 4th quarter worth $111,000. First Mercantile Trust Co. boosted its stake in shares of PacWest Bancorp by 94.1% during the 1st quarter. First Mercantile Trust Co. now owns 2,651 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 1,285 shares in the last quarter. Point72 Asia Hong Kong Ltd bought a new stake in shares of PacWest Bancorp during the 1st quarter worth $139,000. Finally, HPM Partners LLC bought a new stake in shares of PacWest Bancorp during the 4th quarter worth $240,000. 86.36% of the stock is owned by institutional investors and hedge funds.
About PacWest Bancorp
PacWest Bancorp operates as the holding company for Pacific Western Bank, a state chartered bank that provides commercial banking products and services. The company accepts demand, money market, and time deposits. It also provides real estate loans to professional developers and real estate investors for the acquisition, refinancing, and construction of commercial real estate properties; small business administration loans; asset-based loans for working capital needs; venture capital loans to support the start-up operations of entrepreneurial companies; and equipment-secured loans and leases.
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