PacWest Bancorp (NASDAQ:PACW)‘s stock had its “buy” rating reiterated by stock analysts at Piper Jaffray Companies in a report released on Thursday. They currently have a $54.00 price target on the financial services provider’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 14.87% from the stock’s current price.
PACW has been the topic of a number of other research reports. BidaskClub upgraded PacWest Bancorp from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. SunTrust Banks, Inc. assumed coverage on PacWest Bancorp in a report on Friday, August 18th. They set a “hold” rating and a $49.00 price target on the stock. Raymond James Financial, Inc. downgraded PacWest Bancorp from a “strong-buy” rating to an “outperform” rating in a report on Tuesday. Zacks Investment Research downgraded PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Finally, ValuEngine upgraded PacWest Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. PacWest Bancorp currently has a consensus rating of “Hold” and a consensus price target of $53.00.
Shares of PacWest Bancorp (PACW) traded up 0.84% during mid-day trading on Thursday, hitting $47.01. The stock had a trading volume of 1,139,642 shares. The firm has a market cap of $5.71 billion, a P/E ratio of 15.88 and a beta of 1.62. PacWest Bancorp has a 12-month low of $41.10 and a 12-month high of $57.53. The company has a 50 day moving average price of $47.37 and a 200 day moving average price of $47.85.
PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. PacWest Bancorp had a return on equity of 7.91% and a net margin of 30.80%. The business had revenue of $273.07 million for the quarter, compared to the consensus estimate of $281.14 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. Equities analysts forecast that PacWest Bancorp will post $2.98 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ffcm LLC boosted its position in PacWest Bancorp by 172.7% during the second quarter. Ffcm LLC now owns 2,394 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 1,516 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PacWest Bancorp by 12.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,132 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 468 shares during the last quarter. Creative Planning boosted its position in PacWest Bancorp by 17.3% during the second quarter. Creative Planning now owns 4,157 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 613 shares during the last quarter. Two Sigma Securities LLC acquired a new stake in PacWest Bancorp during the first quarter valued at $237,000. Finally, Charter Trust Co. boosted its position in PacWest Bancorp by 0.8% during the second quarter. Charter Trust Co. now owns 4,757 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 38 shares during the last quarter. 88.75% of the stock is owned by hedge funds and other institutional investors.
PacWest Bancorp Company Profile
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 December 31, 2016, the Bank offered a range of loan and deposit products and services through 77 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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