PacWest Bancorp (NASDAQ:PACW) Rating Increased to Hold at BidaskClub

PacWest Bancorp (NASDAQ:PACW) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday, BidAskClub reports.

PACW has been the topic of several other reports. Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Wells Fargo & Co reaffirmed a “buy” rating on shares of Morgan Stanley in a report on Wednesday, April 17th. ValuEngine raised Vale from a “sell” rating to a “hold” rating in a report on Tuesday, July 16th. Stephens reaffirmed a “buy” rating and set a $43.00 price target on shares of PacWest Bancorp in a report on Tuesday, July 16th. Finally, Raymond James downgraded First Midwest Bancorp to a “hold” rating in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. PacWest Bancorp currently has an average rating of “Hold” and an average price target of $43.00.

PacWest Bancorp stock opened at $37.63 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.99 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average of $38.01. PacWest Bancorp has a 12 month low of $31.16 and a 12 month high of $52.15. The company has a market capitalization of $4.47 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 0.98 and a beta of 1.45.



PacWest Bancorp (NASDAQ:PACW) last released its earnings results on Tuesday, July 16th. The financial services provider reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.13. PacWest Bancorp had a return on equity of 9.83% and a net margin of 34.54%. The business had revenue of $311.79 million for the quarter, compared to the consensus estimate of $291.71 million. During the same period in the previous year, the company posted $0.92 earnings per share. On average, equities analysts expect that PacWest Bancorp will post 3.86 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in PACW. First Hawaiian Bank increased its position in PacWest Bancorp by 128.5% during the first quarter. First Hawaiian Bank now owns 786 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 442 shares during the last quarter. Parallel Advisors LLC increased its position in PacWest Bancorp by 57.0% in the first quarter. Parallel Advisors LLC now owns 879 shares of the financial services provider’s stock worth $33,000 after buying an additional 319 shares in the last quarter. Avestar Capital LLC purchased a new stake in PacWest Bancorp in the first quarter worth about $39,000. Icon Wealth Partners LLC purchased a new stake in PacWest Bancorp in the first quarter worth about $58,000. Finally, First Interstate Bank increased its position in PacWest Bancorp by 26.5% in the first quarter. First Interstate Bank now owns 4,015 shares of the financial services provider’s stock worth $151,000 after buying an additional 840 shares in the last quarter. 89.52% of the stock is currently owned by hedge funds and other institutional investors.

PacWest Bancorp Company Profile

PacWest Bancorp operates as the holding company for Pacific Western Bank, a state chartered bank that provides commercial banking products and services. The company accepts demand, money market, and time deposits. It also provides real estate loans to professional developers and real estate investors for the acquisition, refinancing, and construction of commercial real estate properties; small business administration loans; asset-based loans for working capital needs; venture capital loans to support the start-up operations of entrepreneurial companies; and equipment-secured loans and leases.

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Analyst Recommendations for PacWest Bancorp (NASDAQ:PACW)

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