PacWest Bancorp (PACW) Downgraded by UBS AG to Outperform
Other analysts have also recently issued reports about the company. FBR & Co set a $55.00 price objective on PacWest Bancorp and gave the company a buy rating in a research report on Wednesday, July 19th. SunTrust Banks, Inc. reiterated a hold rating and set a $49.00 price target on shares of PacWest Bancorp in a research report on Thursday, October 12th. Zacks Investment Research cut PacWest Bancorp from a hold rating to a sell rating in a research report on Friday, October 13th. BidaskClub lowered PacWest Bancorp from a sell rating to a strong sell rating in a research note on Friday, July 28th. Finally, ValuEngine raised PacWest Bancorp from a hold rating to a buy rating in a research note on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $54.00.
PacWest Bancorp (NASDAQ PACW) traded up 0.09% during trading on Tuesday, reaching $46.66. 952,829 shares of the company’s stock traded hands. The company has a 50 day moving average of $47.26 and a 200 day moving average of $47.95. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 16.11 and a beta of 1.62. PacWest Bancorp has a one year low of $41.10 and a one year high of $57.53.
PacWest Bancorp (NASDAQ:PACW) last released its earnings results on Tuesday, October 17th. The financial services provider reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.09. PacWest Bancorp had a return on equity of 7.73% and a net margin of 30.61%. The firm had revenue of $273.07 million during 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 research analysts predict that PacWest Bancorp will post $2.95 EPS for the current year.
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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Charter Trust Co. lifted its stake in PacWest Bancorp by 0.8% during the 2nd quarter. Charter Trust Co. now owns 4,757 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 38 shares in the last quarter. Dowling & Yahnke LLC lifted its stake in PacWest Bancorp by 0.8% during the 2nd quarter. Dowling & Yahnke LLC now owns 7,858 shares of the financial services provider’s stock worth $367,000 after acquiring an additional 65 shares in the last quarter. First Allied Advisory Services Inc. lifted its stake in PacWest Bancorp by 1.1% during the 2nd quarter. First Allied Advisory Services Inc. now owns 5,781 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 65 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in PacWest Bancorp by 1.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,895 shares of the financial services provider’s stock worth $369,000 after acquiring an additional 79 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in PacWest Bancorp by 0.5% during the 1st quarter. Tudor Investment Corp ET AL now owns 20,370 shares of the financial services provider’s stock worth $1,085,000 after acquiring an additional 101 shares in the last quarter. 88.75% of the stock is currently 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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