PacWest Bancorp Director Buys $340,800 in Stock (PACW)
PacWest Bancorp (NASDAQ:PACW) Director Susan E. Lester bought 8,000 shares of PacWest Bancorp stock in a transaction dated Monday, January 27th. The stock was purchased at an average price of $42.60 per share, for a total transaction of $340,800.00. Following the completion of the acquisition, the director now directly owns 19,620 shares in the company, valued at approximately $835,812. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at FBR Capital Markets raised their price target on shares of PacWest Bancorp from $40.00 to $47.00 in a research note to investors on Friday. They now have a “market perform” rating on the stock. Separately, 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, January 7th. They now have a $46.00 price target on the stock, up previously from $39.00. Finally, 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. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $44.17.
PacWest Bancorp (NASDAQ:PACW) traded down 3.35% during mid-day trading on Monday, hitting $41.56. 542,424 shares of the company’s stock traded hands. PacWest Bancorp has a one year low of $25.81 and a one year high of $43.97. The stock’s 50-day moving average is $42.37 and its 200-day moving average is $37.54. The company has a market cap of $1.904 billion and a price-to-earnings ratio of 39.81.
PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.34 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.50 by $0.16. During the same quarter last year, the company posted $0.54 earnings per share. Analysts expect that PacWest Bancorp will post $2.46 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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