PacWest Bancorp (NASDAQ:PACW) was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued on Thursday, Marketbeat.com reports. The firm presently has a $53.00 price objective on the financial services provider’s stock. DA Davidson’s price objective points to a potential upside of 21.25% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, July 22nd. Raymond James Financial, Inc. lowered their target price on shares of PacWest Bancorp from $59.00 to $55.00 and set a “strong-buy” rating for the company in a research note on Tuesday, August 22nd. ValuEngine upgraded shares of PacWest Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. BidaskClub upgraded shares of PacWest Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Stephens restated a “buy” rating and issued a $56.00 target price on shares of PacWest Bancorp in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. PacWest Bancorp currently has a consensus rating of “Buy” and an average target price of $54.17.

PacWest Bancorp (PACW) opened at 43.71 on Thursday. PacWest Bancorp has a one year low of $41.10 and a one year high of $57.53. The company has a 50-day moving average of $46.23 and a 200-day moving average of $49.17. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 15.09 and a beta of 1.59.

PacWest Bancorp (NASDAQ:PACW) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.06. PacWest Bancorp had a net margin of 30.61% and a return on equity of 7.73%. The firm had revenue of $277.76 million for the quarter, compared to the consensus estimate of $272.57 million. During the same period last year, the firm earned $0.68 earnings per share. On average, equities analysts forecast that PacWest Bancorp will post $2.95 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the business. Charter Trust Co. raised its holdings in shares of PacWest Bancorp by 0.8% during the second quarter. Charter Trust Co. now owns 4,757 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 38 shares during the last quarter. Dowling & Yahnke LLC raised its holdings in shares of PacWest Bancorp by 0.8% during the second quarter. Dowling & Yahnke LLC now owns 7,858 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 65 shares during the last quarter. First Allied Advisory Services Inc. raised its holdings in shares of PacWest Bancorp by 1.1% during the second quarter. First Allied Advisory Services Inc. now owns 5,781 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 65 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of PacWest Bancorp by 1.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,895 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 79 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its holdings in shares of PacWest Bancorp by 0.5% during 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 purchasing an additional 101 shares during the last quarter. 90.18% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for PacWest Bancorp (NASDAQ:PACW)

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