PacWest Bancorp PT Raised to $45.00 at RBC Capital (PACW)
RBC Capital raised their price target on shares of PacWest Bancorp (NASDAQ:PACW) from $44.00 to $45.00 in a research note issued on Wednesday. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price objective would suggest a potential upside of 10.00% from the company’s current price.
PACW has been the subject of a number of other recent research reports. 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. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $46.01.
PacWest Bancorp (NASDAQ:PACW) traded down 0.68% on Wednesday, hitting $40.91. The stock had a trading volume of 601,409 shares. PacWest Bancorp has a 52 week low of $32.79 and a 52 week high of $47.37. The stock’s 50-day moving average is $42.79 and its 200-day moving average is $41.96. The company has a market cap of $4.169 billion and a P/E ratio of 31.98.
PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.64 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.62 by $0.02. During the same quarter in the prior year, the company posted $0.39 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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