PacWest Bancorp (PACW) Upgraded at BidaskClub

BidaskClub upgraded shares of PacWest Bancorp (NASDAQ:PACW) from a sell rating to a hold rating in a research report sent to investors on Friday.

A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of PacWest Bancorp from a hold rating to a sell rating in a research note on Wednesday, December 26th. Stephens reissued a buy rating and issued a $58.00 price target on shares of PacWest Bancorp in a research note on Tuesday, October 16th. TheStreet downgraded shares of PacWest Bancorp from a b- rating to a c+ rating in a research note on Monday, November 19th. BMO Capital Markets decreased their price target on shares of PacWest Bancorp from $52.00 to $50.00 and set a market perform rating for the company in a research note on Wednesday, October 17th. Finally, ValuEngine downgraded shares of PacWest Bancorp from a hold rating to a sell rating in a research note on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $54.38.

PacWest Bancorp stock opened at $36.29 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.41. The stock has a market cap of $4.34 billion, a PE ratio of 12.43, a PEG ratio of 0.95 and a beta of 1.48. PacWest Bancorp has a 1-year low of $31.16 and a 1-year high of $55.86.

PacWest Bancorp (NASDAQ:PACW) last posted its earnings results on Tuesday, October 16th. The financial services provider reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. The company had revenue of $297.23 million during the quarter, compared to analyst estimates of $301.52 million. PacWest Bancorp had a net margin of 33.60% and a return on equity of 8.95%. During the same period in the prior year, the business posted $0.84 earnings per share. Sell-side analysts predict that PacWest Bancorp will post 3.7 earnings per share for the current year.

In other PacWest Bancorp news, CEO Matthew P. Wagner bought 20,925 shares of the firm’s stock in a transaction on Monday, October 29th. The stock was acquired at an average price of $39.01 per share, with a total value of $816,284.25. Following the completion of the purchase, the chief executive officer now owns 530,552 shares of the company’s stock, valued at $20,696,833.52. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James Pieczynski bought 10,000 shares of the firm’s stock in a transaction on Wednesday, November 28th. The shares were acquired at an average cost of $39.72 per share, with a total value of $397,200.00. Following the purchase, the insider now directly owns 47,497 shares of the company’s stock, valued at approximately $1,886,580.84. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 40,925 shares of company stock valued at $1,625,784. 1.01% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in PACW. Qube Research & Technologies Ltd bought a new position in shares of PacWest Bancorp during the second quarter valued at approximately $158,000. CENTRAL TRUST Co grew its holdings in shares of PacWest Bancorp by 1,188.3% during the fourth quarter. CENTRAL TRUST Co now owns 5,746 shares of the financial services provider’s stock valued at $191,000 after buying an additional 5,300 shares during the last quarter. Creative Planning purchased a new stake in shares of PacWest Bancorp during the third quarter valued at approximately $200,000. GAM Holding AG purchased a new stake in shares of PacWest Bancorp during the third quarter valued at approximately $208,000. Finally, Laurion Capital Management LP purchased a new stake in PacWest Bancorp in the third quarter worth approximately $226,000. 88.46% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for PacWest Bancorp (NASDAQ:PACW)

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