Shares of PacWest Bancorp (NASDAQ:PACW) have received a consensus recommendation of “Hold” from the twelve analysts that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $41.00.
A number of research firms have issued reports on PACW. SunTrust Banks cut their price objective on shares of PacWest Bancorp from $40.00 to $39.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Royal Bank of Canada initiated coverage on shares of PacWest Bancorp in a report on Friday, August 23rd. They issued an “outperform” rating and a $40.00 target price for the company. ValuEngine raised shares of PacWest Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 12th. TheStreet cut shares of PacWest Bancorp from a “b-” rating to a “c+” rating in a report on Tuesday, August 27th. Finally, BidaskClub downgraded shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, November 16th.
PACW stock opened at $36.99 on Tuesday. The firm has a market capitalization of $4.40 billion, a PE ratio of 9.94, a P/E/G ratio of 0.98 and a beta of 1.47. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. PacWest Bancorp has a twelve month low of $31.16 and a twelve month high of $41.60. The stock’s 50 day moving average is $37.83 and its 200-day moving average is $36.96.
PacWest Bancorp (NASDAQ:PACW) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.01). The company had revenue of $285.67 million for the quarter, compared to the consensus estimate of $290.49 million. PacWest Bancorp had a return on equity of 9.61% and a net margin of 33.80%. During the same quarter last year, the company posted $0.94 EPS. On average, equities research analysts anticipate that PacWest Bancorp will post 3.79 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Wednesday, November 20th were paid a $0.60 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $2.40 dividend on an annualized basis and a yield of 6.49%. PacWest Bancorp’s dividend payout ratio (DPR) is presently 64.52%.
In other news, EVP Mark A. Christian sold 9,500 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $37.89, for a total transaction of $359,955.00. Following the completion of the sale, the executive vice president now directly owns 24,781 shares of the company’s stock, valued at approximately $938,952.09. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.18% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PACW. Migdal Insurance & Financial Holdings Ltd. bought a new stake in PacWest Bancorp in the second quarter worth about $26,000. Steward Partners Investment Advisory LLC purchased a new stake in PacWest Bancorp in the second quarter worth $31,000. AGF Investments LLC increased its position in PacWest Bancorp by 81.8% in the second quarter. AGF Investments LLC now owns 938 shares of the financial services provider’s stock worth $36,000 after buying an additional 422 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of PacWest Bancorp by 48.0% in the second quarter. Rockefeller Capital Management L.P. now owns 965 shares of the financial services provider’s stock valued at $37,000 after buying an additional 313 shares during the period. Finally, Parallel Advisors LLC lifted its position in shares of PacWest Bancorp by 116.6% during the 3rd quarter. Parallel Advisors LLC now owns 1,189 shares of the financial services provider’s stock valued at $43,000 after buying an additional 640 shares during the last quarter. Institutional investors own 86.43% of the company’s stock.
PacWest Bancorp Company Profile
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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