PacWest Bancorp Receives Average Rating of “Buy” from Brokerages (NASDAQ:PACW)
PacWest Bancorp (NASDAQ:PACW) has received an average rating of “Buy” from the ten analysts that are presently covering the stock, AnalystRatingsNetwork reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $46.16.
A number of research firms have recently commented on PACW. Analysts at Zacks upgraded shares of PacWest Bancorp from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 2nd. They now have a $48.10 price target on the stock. Separately, analysts at Davidson upgraded shares of PacWest Bancorp to a “buy” rating in a research note on Monday, June 2nd. Finally, analysts at DA Davidson upgraded shares of PacWest Bancorp from a “neutral” rating to a “buy” rating in a research note on Monday, June 2nd. They now have a $47.00 price target on the stock, up previously from $45.00.
Shares of PacWest Bancorp (NASDAQ:PACW) traded up 0.52% during mid-day trading on Monday, hitting $42.40. 53,291 shares of the company’s stock traded hands. PacWest Bancorp has a one year low of $31.24 and a one year high of $47.37. The stock’s 50-day moving average is $42.70 and its 200-day moving average is $41.98. The company has a market cap of $4.321 billion and a P/E ratio of 32.75.
PacWest Bancorp (NASDAQ:PACW) last released its earnings data on Wednesday, April 23rd. The company reported $0.55 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.48 by $0.07. During the same quarter last year, the company posted $0.37 earnings per share. Analysts expect that PacWest Bancorp will post $2.51 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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