PacWest Bancorp (NASDAQ:PACW)‘s stock had its “hold” rating reiterated by BMO Capital Markets in a report issued on Friday. They currently have a $55.00 price target on the financial services provider’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 15.26% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $55.00 target price on shares of PacWest Bancorp in a research note on Thursday, May 18th. Stephens upgraded PacWest Bancorp from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 24th. Piper Jaffray Companies lowered their price objective on PacWest Bancorp from $63.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 19th. FBR & Co restated an “outperform” rating and issued a $55.00 price objective (down from $62.00) on shares of PacWest Bancorp in a research note on Monday, April 17th. Finally, Raymond James Financial, Inc. upgraded PacWest Bancorp from an “outperform” rating to a “strong-buy” rating and set a $63.00 price objective on the stock in a research note on Thursday, April 6th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $55.20.

Analyst Recommendations for PacWest Bancorp (NASDAQ:PACW)

PacWest Bancorp (NASDAQ:PACW) opened at 47.72 on Friday. The stock has a 50 day moving average of $49.58 and a 200 day moving average of $52.68. PacWest Bancorp has a 12-month low of $35.56 and a 12-month high of $57.53. The firm has a market cap of $5.65 billion, a PE ratio of 17.04 and a beta of 1.51.

PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings results on Monday, April 17th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by $0.07. PacWest Bancorp had a net margin of 31.11% and a return on equity of 7.81%. The business had revenue of $267.57 million during the quarter, compared to analyst estimates of $272.30 million. During the same period in the previous year, the business posted $0.74 EPS. On average, equities research analysts anticipate that PacWest Bancorp will post $2.84 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Monday, May 22nd will be given a $0.50 dividend. The ex-dividend date is Thursday, May 18th. This represents a $2.00 annualized dividend and a yield of 4.19%. PacWest Bancorp’s payout ratio is currently 68.97%.

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In other PacWest Bancorp news, CEO Matthew P. Wagner bought 2,072 shares of the firm’s stock in a transaction that occurred on Wednesday, April 19th. The stock was bought at an average price of $47.75 per share, for a total transaction of $98,938.00. Following the completion of the acquisition, the chief executive officer now directly owns 528,934 shares in the company, valued at $25,256,598.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Patrick J. Rusnak bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 19th. The shares were acquired at an average price of $47.75 per share, with a total value of $95,500.00. Following the acquisition, the chief financial officer now owns 81,349 shares of the company’s stock, valued at $3,884,414.75. The disclosure for this purchase can be found here. Insiders acquired 4,572 shares of company stock valued at $218,398 in the last quarter. Corporate insiders own 1.43% of the company’s stock.

Several institutional investors have recently made changes to their positions in PACW. Chesley Taft & Associates LLC increased its position in shares of PacWest Bancorp by 0.6% in the first quarter. Chesley Taft & Associates LLC now owns 17,825 shares of the financial services provider’s stock worth $949,000 after buying an additional 100 shares in the last quarter. Tudor Investment Corp ET AL increased its position in shares of PacWest Bancorp by 0.5% in the first quarter. Tudor Investment Corp ET AL now owns 20,370 shares of the financial services provider’s stock worth $1,085,000 after buying an additional 101 shares in the last quarter. World Asset Management Inc increased its position in shares of PacWest Bancorp by 1.6% in the first quarter. World Asset Management Inc now owns 7,432 shares of the financial services provider’s stock worth $396,000 after buying an additional 118 shares in the last quarter. Denver Investment Advisors LLC increased its position in shares of PacWest Bancorp by 0.5% in the first quarter. Denver Investment Advisors LLC now owns 38,343 shares of the financial services provider’s stock worth $2,042,000 after buying an additional 181 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of PacWest Bancorp by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 17,217 shares of the financial services provider’s stock worth $917,000 after buying an additional 205 shares in the last quarter. Institutional investors own 88.33% of the company’s stock.

PacWest Bancorp Company Profile

PacWest Bancorp is a bank holding company for Pacific Western Bank (the Bank). The Company is focused on relationship-based business banking to small, middle-market and venture-backed businesses. As of December 31, 2016, the Bank offered a range of loan and deposit products and services through 77 branches located throughout the state of California, one branch located in Durham, North Carolina, and several loan production offices located in cities across the country.

12 Month Chart for NASDAQ:PACW

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