PacWest Bancorp (PACW) Stock Rating Reaffirmed by SunTrust Banks, Inc.
PacWest Bancorp (NASDAQ:PACW)‘s stock had its “hold” rating restated by investment analysts at SunTrust Banks, Inc. in a report issued on Thursday. They presently have a $49.00 price objective on the financial services provider’s stock. SunTrust Banks, Inc.’s price objective suggests a potential upside of 0.78% from the stock’s previous close.
Other equities analysts have also issued research reports about the company. FBR & Co set a $55.00 price target on PacWest Bancorp and gave the stock a “buy” rating in a report on Wednesday, July 19th. Stephens reissued a “buy” rating and set a $56.00 price target on shares of PacWest Bancorp in a report on Friday, July 14th. ValuEngine raised PacWest Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. DA Davidson raised PacWest Bancorp from a “neutral” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Thursday, September 7th. Finally, Zacks Investment Research raised PacWest Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. PacWest Bancorp has an average rating of “Buy” and a consensus price target of $54.50.
Shares of PacWest Bancorp (NASDAQ PACW) traded down 0.02% during mid-day trading on Thursday, hitting $48.62. The stock had a trading volume of 608,447 shares. The firm has a market cap of $5.84 billion, a PE ratio of 16.79 and a beta of 1.62. PacWest Bancorp has a 52-week low of $41.10 and a 52-week high of $57.53. The firm has a 50 day moving average price of $47.07 and a 200 day moving average price of $48.02.
PacWest Bancorp (NASDAQ:PACW) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.06. PacWest Bancorp had a return on equity of 7.73% and a net margin of 30.61%. The firm had revenue of $277.76 million for the quarter, compared to analyst estimates of $272.57 million. During the same quarter last year, the company posted $0.68 earnings per share. Equities analysts predict that PacWest Bancorp will post $2.93 EPS for the current year.
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Several large investors have recently made changes to their positions in PACW. UBS Asset Management Americas Inc. boosted its stake in shares of PacWest Bancorp by 6.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 69,907 shares of the financial services provider’s stock worth $3,723,000 after acquiring an additional 4,427 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of PacWest Bancorp during the 1st quarter worth approximately $366,000. Stifel Financial Corp boosted its stake in shares of PacWest Bancorp by 25.2% during the 1st quarter. Stifel Financial Corp now owns 11,364 shares of the financial services provider’s stock worth $605,000 after acquiring an additional 2,286 shares in the last quarter. Credit Agricole S A purchased a new stake in shares of PacWest Bancorp during the 1st quarter worth approximately $826,000. Finally, OppenheimerFunds Inc. boosted its stake in shares of PacWest Bancorp by 19.4% during the 1st quarter. OppenheimerFunds Inc. now owns 14,758 shares of the financial services provider’s stock worth $786,000 after acquiring an additional 2,399 shares in the last quarter. 88.64% of the stock is currently 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.
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