PacWest Bancorp (PACW) Lowered to “Sell” at BidaskClub

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BidaskClub cut shares of PacWest Bancorp (NASDAQ:PACW) from a hold rating to a sell rating in a research note released on Thursday.

Several other analysts have also issued reports on the company. TheStreet upgraded PacWest Bancorp from a c+ rating to a b- rating in a research note on Monday, February 25th. Raymond James set a $48.00 target price on PacWest Bancorp and gave the company a buy rating in a research note on Tuesday, February 26th. Keefe, Bruyette & Woods lowered PacWest Bancorp from an outperform rating to a market perform rating and lowered their target price for the company from $50.00 to $45.00 in a research note on Sunday, February 24th. BMO Capital Markets boosted their target price on PacWest Bancorp to $38.00 in a research note on Tuesday, January 22nd. Finally, Zacks Investment Research upgraded PacWest Bancorp from a sell rating to a hold rating in a research note on Tuesday, January 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $49.56.

PacWest Bancorp stock traded up $0.06 during mid-day trading on Thursday, reaching $39.69. 239,415 shares of the company’s stock were exchanged, compared to its average volume of 1,126,042. The firm has a market capitalization of $4.72 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 1.03 and a beta of 1.55. PacWest Bancorp has a one year low of $31.16 and a one year high of $55.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.38.

PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings results on Thursday, January 17th. The financial services provider reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.01. The business had revenue of $295.29 million for the quarter, compared to analyst estimates of $297.05 million. PacWest Bancorp had a return on equity of 9.64% and a net margin of 35.33%. During the same period last year, the company posted $0.66 earnings per share. Analysts predict that PacWest Bancorp will post 3.78 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Wednesday, February 20th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 6.05%. The ex-dividend date was Tuesday, February 19th. PacWest Bancorp’s dividend payout ratio (DPR) is presently 64.52%.

Several hedge funds and other institutional investors have recently made changes to their positions in PACW. Enlightenment Research LLC purchased a new position in shares of PacWest Bancorp in the fourth quarter valued at $27,000. JOYN Advisors Inc. grew its position in shares of PacWest Bancorp by 439.6% in the fourth quarter. JOYN Advisors Inc. now owns 1,511 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 1,231 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of PacWest Bancorp by 3,228.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,692,721 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 1,641,858 shares in the last quarter. Lindbrook Capital LLC purchased a new position in shares of PacWest Bancorp in the fourth quarter valued at $52,000. Finally, Toronto Dominion Bank purchased a new position in shares of PacWest Bancorp in the fourth quarter valued at $76,000. Institutional investors own 90.70% of the company’s stock.

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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