PacWest Bancorp (NASDAQ:PACW) has earned an average recommendation of “Buy” from the fifteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, seven have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $55.44.
A number of analysts recently issued reports on PACW shares. FBR & Co reissued an “outperform” rating and set a $55.00 price target (down from $62.00) on shares of PacWest Bancorp in a report on Monday, April 17th. Zacks Investment Research downgraded shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, June 8th. BidaskClub downgraded shares of PacWest Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Wedbush reissued a “neutral” rating and set a $49.00 price target on shares of PacWest Bancorp in a report on Tuesday, June 27th. Finally, Stephens raised shares of PacWest Bancorp from an “equal weight” rating to an “overweight” rating in a report on Monday, April 24th.
In other PacWest Bancorp news, Director Craig A. Carlson sold 1,081 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $47.16, for a total transaction of $50,979.96. Following the completion of the transaction, the director now directly owns 6,273 shares in the company, valued at $295,834.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.98% of the company’s stock.
PacWest Bancorp (PACW) traded down 0.08% on Friday, reaching $47.83. 609,229 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $47.43 and a 200 day moving average price of $50.85. PacWest Bancorp has a 12-month low of $40.60 and a 12-month high of $57.53. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 16.52 and a beta of 1.58.
PacWest Bancorp (NASDAQ:PACW) last announced its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.06. PacWest Bancorp had a net margin of 30.61% and a return on equity of 7.73%. The firm had revenue of $277.76 million for the quarter, compared to the consensus estimate of $272.57 million. During the same period in the prior year, the firm posted $0.68 earnings per share. Analysts forecast that PacWest Bancorp will post $2.95 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, August 21st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Thursday, August 17th. PacWest Bancorp’s dividend payout ratio is presently 68.97%.
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 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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