PacWest Bancorp (NASDAQ:PACW) Lowered to Sell at BidaskClub

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

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

Shares of NASDAQ PACW traded down $0.05 during trading hours on Thursday, reaching $37.42. The stock had a trading volume of 11,751 shares, compared to its average volume of 856,656. The stock has a fifty day moving average price of $38.02. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $4.42 billion, a P/E ratio of 10.07, a price-to-earnings-growth ratio of 0.98 and a beta of 1.45. PacWest Bancorp has a twelve month low of $31.16 and a twelve month high of $52.15.

PacWest Bancorp (NASDAQ:PACW) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.91 by $0.01. PacWest Bancorp had a return on equity of 9.58% and a net margin of 34.47%. The company had revenue of $285.94 million for the quarter, compared to analyst estimates of $291.86 million. During the same quarter in the prior year, the company earned $0.93 EPS. Research analysts predict that PacWest Bancorp will post 3.81 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Hawaiian Bank raised its position in PacWest Bancorp by 128.5% during the first quarter. First Hawaiian Bank now owns 786 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 442 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of PacWest Bancorp by 57.0% in the first quarter. Parallel Advisors LLC now owns 879 shares of the financial services provider’s stock worth $33,000 after buying an additional 319 shares during the period. Avestar Capital LLC purchased a new position in shares of PacWest Bancorp in the first quarter worth about $39,000. Icon Wealth Partners LLC purchased a new position in shares of PacWest Bancorp in the first quarter worth about $58,000. Finally, Captrust Financial Advisors increased its holdings in shares of PacWest Bancorp by 43.0% in the fourth quarter. Captrust Financial Advisors now owns 2,868 shares of the financial services provider’s stock worth $95,000 after buying an additional 863 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.

Featured Article: How is a buy-side analyst different from a sell-side analyst?

Analyst Recommendations for PacWest Bancorp (NASDAQ:PACW)

Receive News & Ratings for PacWest Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PacWest Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.