PacWest Bancorp (NASDAQ:PACW) Receives $41.00 Consensus Target Price from Brokerages

Shares of PacWest Bancorp (NASDAQ:PACW) have earned an average rating of “Hold” from the twelve brokerages that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $41.00.

A number of research analysts recently issued reports on the stock. SunTrust Banks dropped their target price on shares of PacWest Bancorp from $40.00 to $39.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Raymond James downgraded shares of PacWest Bancorp from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 8th. BidaskClub downgraded shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Zacks Investment Research downgraded shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada assumed coverage on shares of PacWest Bancorp in a research report on Friday, August 23rd. They set an “outperform” rating and a $40.00 target price on the stock.

In other PacWest Bancorp news, EVP Mark A. Christian sold 9,500 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $37.89, for a total transaction of $359,955.00. Following the completion of the sale, the executive vice president now owns 24,781 shares in the company, valued at approximately $938,952.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.18% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. grew its stake in shares of PacWest Bancorp by 48.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 965 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 313 shares in the last quarter. Stephens Inc. AR grew its stake in shares of PacWest Bancorp by 4.3% in the 2nd quarter. Stephens Inc. AR now owns 9,030 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 375 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of PacWest Bancorp by 1.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 29,935 shares of the financial services provider’s stock worth $1,161,000 after acquiring an additional 397 shares in the last quarter. AGF Investments LLC grew its stake in shares of PacWest Bancorp by 81.8% in the 2nd quarter. AGF Investments LLC now owns 938 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 422 shares in the last quarter. Finally, Lido Advisors LLC grew its stake in shares of PacWest Bancorp by 4.9% in the 2nd quarter. Lido Advisors LLC now owns 9,825 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 455 shares in the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

Shares of PacWest Bancorp stock traded up $0.41 during trading on Monday, reaching $37.02. 581,128 shares of the company traded hands, compared to its average volume of 906,996. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.96 and a quick ratio of 0.99. PacWest Bancorp has a 1-year low of $31.16 and a 1-year high of $42.41. The company has a 50 day moving average price of $36.09 and a 200-day moving average price of $37.24. The firm has a market capitalization of $4.28 billion, a PE ratio of 9.95, a P/E/G ratio of 0.95 and a beta of 1.50.

PacWest Bancorp (NASDAQ:PACW) last released its earnings results on Wednesday, October 16th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.01). PacWest Bancorp had a net margin of 33.80% and a return on equity of 9.61%. The company had revenue of $285.67 million for the quarter, compared to analyst estimates of $290.49 million. During the same quarter in the previous year, the firm earned $0.94 EPS. Equities research analysts expect that PacWest Bancorp will post 3.77 earnings per share for the current year.

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.

Further Reading: Average Daily Trade Volume – ADTV

Analyst Recommendations for PacWest Bancorp (NASDAQ:PACW)

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