BidaskClub Lowers PacWest Bancorp (NASDAQ:PACW) to Sell

BidaskClub cut shares of PacWest Bancorp (NASDAQ:PACW) from a hold rating to a sell rating in a research note published on Thursday, BidAskClub reports.

A number of other brokerages have also recently issued reports on PACW. Zacks Investment Research cut shares of EXACT Sciences from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Stephens restated a hold rating and issued a $33.00 target price on shares of Bancorpsouth Bank in a research report on Thursday, March 21st. Raymond James lowered shares of First Midwest Bancorp to a hold rating in a research report on Monday, July 8th. Finally, Wells Fargo & Co restated a buy rating on shares of Morgan Stanley in a research report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $44.67.

Shares of NASDAQ:PACW opened at $37.59 on Thursday. The company has a 50 day moving average price of $38.03. The company has a market capitalization of $4.47 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 0.99 and a beta of 1.45. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.96 and a quick ratio of 0.96. PacWest Bancorp has a 1 year low of $31.16 and a 1 year high of $52.15.

PacWest Bancorp (NASDAQ:PACW) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01. The business had revenue of $285.94 million for the quarter, compared to analysts’ expectations of $291.86 million. PacWest Bancorp had a net margin of 34.47% and a return on equity of 9.58%. During the same period last year, the firm posted $0.93 earnings per share. As a group, sell-side analysts predict that PacWest Bancorp will post 3.81 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its position in PacWest Bancorp by 9.7% in the second quarter. Nisa Investment Advisors LLC now owns 57,900 shares of the financial services provider’s stock valued at $2,248,000 after buying an additional 5,100 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in PacWest Bancorp in the second quarter valued at approximately $213,000. Naples Global Advisors LLC acquired a new stake in PacWest Bancorp in the second quarter valued at approximately $231,000. WINTON GROUP Ltd acquired a new stake in PacWest Bancorp in the second quarter valued at approximately $230,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in shares of PacWest Bancorp during the first quarter worth $3,565,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

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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Analyst Recommendations for PacWest Bancorp (NASDAQ:PACW)

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