PacWest Bancorp (NASDAQ:PACW) Stock Rating Upgraded by BidaskClub

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PacWest Bancorp (NASDAQ:PACW) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday, BidAskClub reports.

A number of other brokerages have also issued reports on PACW. Zacks Investment Research raised PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, December 25th. BMO Capital Markets dropped their target price on PacWest Bancorp from $38.00 to $37.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 22nd. Finally, ValuEngine raised PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. PacWest Bancorp presently has an average rating of “Hold” and a consensus target price of $41.25.

Shares of PacWest Bancorp stock opened at $37.09 on Friday. The business’s 50 day simple moving average is $36.72 and its 200 day simple moving average is $36.67. PacWest Bancorp has a 52-week low of $32.64 and a 52-week high of $41.60. The firm has a market cap of $4.37 billion, a PE ratio of 9.53, a P/E/G ratio of 1.05 and a beta of 1.48. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.96 and a current ratio of 0.99.

PacWest Bancorp (NASDAQ:PACW) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.10. PacWest Bancorp had a return on equity of 9.60% and a net margin of 34.40%. The business had revenue of $273.80 million for the quarter, compared to analyst estimates of $281.65 million. As a group, equities research analysts predict that PacWest Bancorp will post 3.4 EPS for the current year.

In related news, COO Mark Yung purchased 2,670 shares of the stock in a transaction on Wednesday, December 11th. The shares were purchased at an average price of $37.37 per share, with a total value of $99,777.90. Following the transaction, the chief operating officer now directly owns 55,558 shares of the company’s stock, valued at $2,076,202.46. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 1.18% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its position in shares of PacWest Bancorp by 0.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,528,983 shares of the financial services provider’s stock worth $96,784,000 after purchasing an additional 11,722 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of PacWest Bancorp by 16.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,164,920 shares of the financial services provider’s stock worth $82,851,000 after purchasing an additional 312,592 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of PacWest Bancorp by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,512,381 shares of the financial services provider’s stock worth $57,879,000 after purchasing an additional 64,458 shares during the last quarter. Neumeier Poma Investment Counsel LLC increased its position in shares of PacWest Bancorp by 1.8% during the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 1,167,765 shares of the financial services provider’s stock worth $44,690,000 after purchasing an additional 20,660 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of PacWest Bancorp by 34.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,156,001 shares of the financial services provider’s stock worth $40,518,000 after acquiring an additional 298,954 shares during the last quarter. 86.22% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for PacWest Bancorp (NASDAQ:PACW)

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