PacWest Bancorp (NASDAQ:PACW) Upgraded by ValuEngine to Sell
A number of other brokerages have also recently weighed in on PACW. BidaskClub upgraded PacWest Bancorp from a sell rating to a hold rating in a research note on Thursday. Royal Bank of Canada assumed coverage on PacWest Bancorp in a research note on Friday, August 23rd. They set an outperform rating and a $40.00 price objective for the company. TheStreet cut PacWest Bancorp from a b- rating to a c+ rating in a research note on Tuesday, August 27th. Raymond James cut PacWest Bancorp from a strong-buy rating to a market perform rating in a research note on Monday, July 8th. Finally, Stephens restated a buy rating and set a $43.00 price objective on shares of PacWest Bancorp in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. PacWest Bancorp has a consensus rating of Hold and a consensus target price of $42.67.
Shares of PACW stock traded up $0.16 during mid-day trading on Thursday, hitting $38.43. The stock had a trading volume of 43,891 shares, compared to its average volume of 767,868. PacWest Bancorp has a 12-month low of $31.16 and a 12-month high of $51.05. The firm has a market capitalization of $4.59 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 0.95 and a beta of 1.49. The firm’s 50-day moving average is $35.03 and its two-hundred day moving average is $37.76. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.99 and a quick ratio of 0.99.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date was Monday, August 19th. PacWest Bancorp’s dividend payout ratio (DPR) is presently 64.52%.
Institutional investors have recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in PacWest Bancorp in the second quarter valued at about $26,000. Steward Partners Investment Advisory LLC purchased a new stake in PacWest Bancorp in the second quarter valued at about $31,000. Parallel Advisors LLC raised its stake in PacWest Bancorp by 57.0% in the first quarter. Parallel Advisors LLC now owns 879 shares of the financial services provider’s stock valued at $33,000 after buying an additional 319 shares during the last quarter. AGF Investments LLC raised its stake in PacWest Bancorp by 81.8% in the second quarter. AGF Investments LLC now owns 938 shares of the financial services provider’s stock valued at $36,000 after buying an additional 422 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in PacWest Bancorp by 48.0% in the second quarter. Rockefeller Capital Management L.P. now owns 965 shares of the financial services provider’s stock valued at $37,000 after buying an additional 313 shares during the last quarter. Institutional investors own 88.52% 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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