PacWest Bancorp Hits New 52-Week High at $43.45 (PACW)
Shares of PacWest Bancorp (NASDAQ:PACW) hit a new 52-week high on Tuesday, American Banking and Market News reports. The company traded as high as $43.45 and last traded at $42.78, with a volume of 759,124 shares trading hands. The stock had previously closed at $41.20.
A number of analysts have recently weighed in on PACW shares. Analysts at Evercore Partners upgraded shares of PacWest Bancorp from an “equal weight” rating to an “overweight” rating in a research note to investors on Tuesday. They now have a $46.00 price target on the stock, up previously from $39.00. Separately, analysts at Wunderlich raised their price target on shares of PacWest Bancorp from $42.00 to $47.00 in a research note to investors on Wednesday, December 4th. They now have a “buy” rating on the stock. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of PacWest Bancorp from $40.00 to $46.00 in a research note to investors on Tuesday, October 29th. They now have an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. PacWest Bancorp presently has an average rating of “Buy” and an average target price of $43.00.
PacWest Bancorp (NASDAQ:PACW) last released its earnings data on Wednesday, October 16th. The company reported $0.49 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.49. During the same quarter in the prior year, the company posted $0.43 earnings per share.
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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