PacWest Bancorp Receives Consensus Recommendation of “Buy” from Brokerages (NASDAQ:PACW)
PacWest Bancorp (NASDAQ:PACW) has earned an average rating of “Buy” from the nine ratings firms that are presently covering the stock, Analyst Ratings Network.com reports. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $46.83.
Shares of PacWest Bancorp (NASDAQ:PACW) opened at 41.73 on Friday. PacWest Bancorp has a 52-week low of $32.79 and a 52-week high of $47.37. The stock has a 50-day moving average of $41.27 and a 200-day moving average of $41.71. The company has a market cap of $4.253 billion and a price-to-earnings ratio of 39.22.
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. On average, analysts predict that PacWest Bancorp will post $2.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, August 26th. Investors of record on Monday, August 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Thursday, August 14th.
A number of research firms have recently commented on PACW. Analysts at RBC Capital raised their price target on shares of PacWest Bancorp from $44.00 to $45.00 in a research note on Wednesday, July 23rd. They now have a “sector perform” rating 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.
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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