PacWest Bancorp (NASDAQ:PACW) Raised to Sell at ValuEngine

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ValuEngine upgraded shares of PacWest Bancorp (NASDAQ:PACW) from a strong sell rating to a sell rating in a report published on Thursday, ValuEngine reports.

Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded PacWest Bancorp from a buy rating to a hold rating in a research note on Tuesday, July 2nd. TheStreet downgraded PacWest Bancorp from a b- rating to a c+ rating in a research report on Tuesday, August 27th. Royal Bank of Canada began coverage on PacWest Bancorp in a research report on Friday, August 23rd. They set an outperform rating and a $40.00 target price for the company. Raymond James downgraded PacWest Bancorp from a strong-buy rating to a market perform rating in a research report on Monday, July 8th. Finally, BidaskClub upgraded PacWest Bancorp from a sell rating to a hold rating in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $42.67.

PACW opened at $38.21 on Thursday. The business has a fifty day simple moving average of $35.02 and a 200 day simple moving average of $37.75. The company has a market capitalization of $4.52 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 0.99 and a beta of 1.49. PacWest Bancorp has a 1 year low of $31.16 and a 1 year high of $51.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.99 and a quick ratio of 0.99.

PacWest Bancorp (NASDAQ:PACW) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.13. The business had revenue of $311.79 million during the quarter, compared to the consensus estimate of $291.71 million. PacWest Bancorp had a return on equity of 9.83% and a net margin of 34.54%. During the same period in the previous year, the company posted $0.92 EPS. Equities analysts anticipate that PacWest Bancorp will post 3.86 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.28%. PacWest Bancorp’s payout ratio is 64.52%.

Several large investors have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of PacWest Bancorp during the 2nd quarter worth $26,000. Steward Partners Investment Advisory LLC acquired a new position in shares of PacWest Bancorp during the 2nd quarter worth $31,000. Parallel Advisors LLC raised its holdings in shares of PacWest Bancorp by 57.0% during the 1st quarter. Parallel Advisors LLC now owns 879 shares of the financial services provider’s stock worth $33,000 after buying an additional 319 shares in the last quarter. AGF Investments LLC raised its holdings in shares of PacWest Bancorp by 81.8% during the 2nd quarter. AGF Investments LLC now owns 938 shares of the financial services provider’s stock worth $36,000 after buying an additional 422 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of PacWest Bancorp by 48.0% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 965 shares of the financial services provider’s stock worth $37,000 after buying an additional 313 shares in the last quarter. Hedge funds and other institutional investors own 88.52% of the company’s stock.

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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Analyst Recommendations for PacWest Bancorp (NASDAQ:PACW)

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