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.
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
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