A number of other research firms also recently commented on PACW. BidaskClub downgraded PacWest Bancorp from a sell rating to a strong sell rating in a report on Friday, January 10th. Zacks Investment Research upgraded PacWest Bancorp from a sell rating to a hold rating in a report on Wednesday, December 25th. Finally, SunTrust Banks reduced their target price on PacWest Bancorp from $40.00 to $39.00 and set a hold rating on the stock in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. PacWest Bancorp currently has a consensus rating of Hold and a consensus target price of $41.38.
NASDAQ:PACW opened at $37.99 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. PacWest Bancorp has a 12-month low of $32.64 and a 12-month high of $41.60. The stock’s fifty day simple moving average is $37.83 and its 200-day simple moving average is $36.93. The firm has a market capitalization of $4.49 billion, a P/E ratio of 9.89, a P/E/G ratio of 1.11 and a beta of 1.47.
In other news, COO Mark Yung acquired 2,670 shares of PacWest Bancorp stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $37.37 per share, for a total transaction of $99,777.90. Following the completion of the acquisition, the chief operating officer now directly owns 55,558 shares in the company, valued at approximately $2,076,202.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.18% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Huntington National Bank raised its stake in PacWest Bancorp by 68,000.0% in the 4th quarter. Huntington National Bank now owns 681 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 680 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of PacWest Bancorp by 116.6% during the third quarter. Parallel Advisors LLC now owns 1,189 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 640 shares during the period. IFP Advisors Inc increased its holdings in shares of PacWest Bancorp by 802.1% during the fourth quarter. IFP Advisors Inc now owns 1,759 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 1,564 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of PacWest Bancorp in the second quarter valued at approximately $105,000. Finally, Steward Partners Investment Advisory LLC raised its position in shares of PacWest Bancorp by 352.0% in the third quarter. Steward Partners Investment Advisory LLC now owns 3,634 shares of the financial services provider’s stock valued at $132,000 after buying an additional 2,830 shares in the last quarter. 86.28% of the stock is owned by institutional investors.
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.
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