Several brokerages have updated their recommendations and price targets on shares of PacWest Bancorp (NASDAQ: PACW) in the last few weeks:
- 2/8/2018 – PacWest Bancorp was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
- 1/31/2018 – PacWest Bancorp was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
- 1/24/2018 – PacWest Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $60.00 price target on the stock. According to Zacks, “PACWEST BANCORP, formerly First Community Bancorp, with one wholly-owned banking subsidiary, Pacific Western Bank. Through sixty full-service community banking branches, Pacific Western provides commercial banking services, including real estate, construction and commercial loans, to small and medium-sized businesses. Pacific Western’s branches are located in Los Angeles, Orange, Riverside, San Diego and San Bernardino Counties. Through its subsidiary BFI Business Finance and its divisions First Community Financial and Pacific Western SBA Lending, Pacific Western also provides working capital financing to growing companies located throughout the Southwest, primarily in the states of Arizona, California and Texas. “
- 1/22/2018 – PacWest Bancorp had its “neutral” rating reaffirmed by analysts at B. Riley. They now have a $55.00 price target on the stock, up previously from $52.00.
- 1/19/2018 – PacWest Bancorp had its price target raised by analysts at BMO Capital Markets to $56.00. They now have a “market perform” rating on the stock.
- 1/19/2018 – PacWest Bancorp had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $59.00 price target on the stock.
- 1/9/2018 – PacWest Bancorp had its “hold” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $54.00 price target on the stock.
- 12/22/2017 – PacWest Bancorp had its “buy” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $59.00 price target on the stock.
- 12/20/2017 – PacWest Bancorp had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $49.00 price target on the stock.
- 12/20/2017 – PacWest Bancorp was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
PacWest Bancorp (PACW) traded up $1.29 on Monday, reaching $51.60. 935,000 shares of the company’s stock were exchanged, compared to its average volume of 758,304. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.19. The stock has a market cap of $6,645.20, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 1.49 and a beta of 1.52. PacWest Bancorp has a 1 year low of $43.08 and a 1 year high of $57.53.
PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.08). The firm had revenue of $289.75 million for the quarter, compared to analysts’ expectations of $297.74 million. PacWest Bancorp had a return on equity of 7.65% and a net margin of 30.12%. During the same period in the prior year, the firm earned $0.71 earnings per share. sell-side analysts forecast that PacWest Bancorp will post 3.46 EPS for the current fiscal year.
In other PacWest Bancorp news, Director Daniel B. Platt sold 7,000 shares of PacWest Bancorp stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $53.61, for a total transaction of $375,270.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.98% of the stock is owned by insiders.
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.