Research Analysts’ Recent Ratings Changes for PacWest Bancorp (PACW)

A number of research firms have changed their ratings and price targets for PacWest Bancorp (NASDAQ: PACW):

  • 4/19/2017 – PacWest Bancorp had its price target lowered by analysts at Piper Jaffray Companies from $63.00 to $57.00. They now have an “overweight” rating on the stock.
  • 4/18/2017 – PacWest Bancorp had its “buy” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $55.00 price target on the stock.
  • 4/17/2017 – PacWest Bancorp had its “hold” rating reaffirmed by analysts at Stephens. They now have a $56.00 price target on the stock.
  • 4/17/2017 – PacWest Bancorp had its “outperform” rating reaffirmed by analysts at FBR & Co. They now have a $55.00 price target on the stock, down previously from $62.00.
  • 4/11/2017 – PacWest Bancorp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “PACWEST BANCORP, formerly First Community Bancorp, with one wholly-owned banking subsidiary, Pacific Western Bank. Through sixty full-service community banking branches, Pacific Western provides commercial banking services, including real estate, construction and commercial loans, to small and medium-sized businesses. Pacific Western’s branches are located in Los Angeles, Orange, Riverside, San Diego and San Bernardino Counties. Through its subsidiary BFI Business Finance and its divisions First Community Financial and Pacific Western SBA Lending, Pacific Western also provides working capital financing to growing companies located throughout the Southwest, primarily in the states of Arizona, California and Texas. “
  • 4/11/2017 – PacWest Bancorp had its price target raised by analysts at Piper Jaffray Companies from $62.00 to $63.00. They now have an “overweight” rating on the stock.
  • 4/6/2017 – PacWest Bancorp was upgraded by analysts at Raymond James Financial, Inc. from an “outperform” rating to a “strong-buy” rating. They now have a $63.00 price target on the stock.
  • 4/6/2017 – PacWest Bancorp was upgraded by analysts at Citigroup Inc from an “outperform” rating to a “strong-buy” rating.
  • 4/3/2017 – PacWest Bancorp had its “buy” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $56.00 price target on the stock.
  • 3/23/2017 – PacWest Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $57.00 price target on the stock. According to Zacks, “PACWEST BANCORP, formerly First Community Bancorp, with one wholly-owned banking subsidiary, Pacific Western Bank. Through sixty full-service community banking branches, Pacific Western provides commercial banking services, including real estate, construction and commercial loans, to small and medium-sized businesses. Pacific Western’s branches are located in Los Angeles, Orange, Riverside, San Diego and San Bernardino Counties. Through its subsidiary BFI Business Finance and its divisions First Community Financial and Pacific Western SBA Lending, Pacific Western also provides working capital financing to growing companies located throughout the Southwest, primarily in the states of Arizona, California and Texas. “

Shares of PacWest Bancorp (NASDAQ:PACW) traded down 0.21% during midday trading on Friday, hitting $48.46. 952,740 shares of the stock were exchanged. The firm has a 50 day moving average of $52.87 and a 200 day moving average of $51.49. PacWest Bancorp has a 12-month low of $35.56 and a 12-month high of $57.53. The firm has a market cap of $5.81 billion, a P/E ratio of 16.73 and a beta of 1.51.

PacWest Bancorp (NASDAQ:PACW) last issued its earnings results on Monday, April 17th. The financial services provider reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.07. The business had revenue of $267.57 million for the quarter, compared to analyst estimates of $272.30 million. PacWest Bancorp had a return on equity of 7.81% and a net margin of 31.11%. During the same period last year, the company posted $0.74 earnings per share. Equities analysts forecast that PacWest Bancorp will post $2.88 EPS for the current fiscal year.

In other PacWest Bancorp news, Director Craig A. Carlson sold 1,124 shares of the stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $54.54, for a total transaction of $61,302.96. Following the sale, the director now directly owns 6,207 shares of the company’s stock, valued at $338,529.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew P. Wagner bought 2,072 shares of the company’s stock in a transaction on Wednesday, April 19th. The shares were acquired at an average cost of $47.75 per share, for a total transaction of $98,938.00. Following the completion of the acquisition, the chief executive officer now directly owns 528,934 shares of the company’s stock, valued at approximately $25,256,598.50. The disclosure for this purchase can be found here. Insiders have acquired 4,572 shares of company stock worth $218,398 over the last three months. 1.43% of the stock is owned by corporate insiders.

PacWest Bancorp is a bank holding company for Pacific Western Bank (the Bank). The Company is focused on relationship-based business banking to small, middle-market and venture-backed businesses. As of December 31, 2016, the Bank offered a range of loan and deposit products and services through 77 branches located throughout the state of California, one branch located in Durham, North Carolina, and several loan production offices located in cities across the country.

5 Day Chart for NASDAQ:PACW

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