Shares of PacWest Bancorp (NASDAQ:PACW) have been given an average rating of “Hold” by the sixteen ratings firms that are currently covering the stock, Marketbeat reports. Ten investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $53.18.
A number of equities research analysts have commented on the company. BidaskClub raised PacWest Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $59.00 target price on shares of PacWest Bancorp in a report on Friday, December 22nd. UBS Group downgraded PacWest Bancorp from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, October 17th. BMO Capital Markets reissued a “hold” rating and issued a $49.00 target price on shares of PacWest Bancorp in a report on Wednesday, December 20th. Finally, B. Riley reissued a “hold” rating and issued a $50.00 target price on shares of PacWest Bancorp in a report on Monday, December 11th.
In other news, CFO Patrick J. Rusnak purchased 2,000 shares of the business’s stock in a transaction dated Thursday, October 19th. The stock was acquired at an average price of $46.92 per share, with a total value of $93,840.00. Following the purchase, the chief financial officer now directly owns 77,852 shares of the company’s stock, valued at approximately $3,652,815.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.98% of the company’s stock.
Shares of PacWest Bancorp (NASDAQ:PACW) opened at $50.40 on Tuesday. PacWest Bancorp has a fifty-two week low of $43.08 and a fifty-two week high of $57.53. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $6,498.36, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 1.68 and a beta of 1.59.
PacWest Bancorp (NASDAQ:PACW) last released its earnings results on Tuesday, October 17th. The financial services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. PacWest Bancorp had a return on equity of 7.87% and a net margin of 30.80%. The company had revenue of $273.07 million during the quarter, compared to the consensus estimate of $281.14 million. During the same quarter last year, the company earned $0.77 earnings per share. equities research analysts expect that PacWest Bancorp will post 3 EPS for the current year.
PacWest Bancorp declared that its board has initiated a stock repurchase program on Thursday, November 16th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
ILLEGAL ACTIVITY NOTICE: This report was first posted by American Banking News and is the property of of American Banking News. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://www.americanbankingnews.com/2018/01/02/pacwest-bancorp-pacw-receives-consensus-recommendation-of-hold-from-analysts.html.
About PacWest Bancorp
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 October 23, 2017, the Bank offered a range of loan and deposit products and services through 83 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.
Receive News & Ratings for PacWest Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PacWest Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.