PacWest Bancorp Reaches New 12-Month High at $37.03 (PACW)
PacWest Bancorp (NASDAQ:PACW)’s share price reached a new 52-week high during trading on Friday, Analyst Ratings Network reports. The stock traded as high as $37.03 and last traded at $37.02, with a volume of 744,381 shares traded. The stock had previously closed at $35.77.
Several analysts have recently commented on the stock. Analysts at Ned Davis Research initiated coverage on shares of PacWest Bancorp in a research note to investors on Monday. They set a “neutral” rating on the stock. Separately, analysts at Keefe, Bruyette & Woods upgraded shares of PacWest Bancorp from a “market perform” rating to an “outperform” rating in a research note to investors on Friday, September 20th. They now have a $40.00 price target on the stock, up previously from $30.00. Finally, analysts at Sterne Agee reiterated a “buy” rating on shares of PacWest Bancorp in a research note to investors on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $36.33.
PacWest Bancorp has a 1-year low of $21.50 and a 1-year high of $36.31. The stock has a 50-day moving average of $34.11 and a 200-day moving average of $31.17. The company has a market cap of $1.640 billion and a P/E ratio of 25.05.
PacWest Bancorp (NASDAQ:PACW) last announced its earnings results on Tuesday, July 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.06. During the same quarter in the previous year, the company posted $0.42 earnings per share. Analysts expect that PacWest Bancorp will post $1.76 EPS for the current fiscal year.
PacWest Bancorp is a bank holding company. The Company’s principal business is to serve as the holding company for its wholly-owned banking subsidiary, Pacific Western Bank (NASDAQ:PACW).
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