PacWest Bancorp (NASDAQ:PACW) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
PACW has been the subject of a number of other research reports. Zacks Investment Research cut PacWest Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, July 20th. BidaskClub upgraded PacWest Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 6th. Wedbush reiterated a “neutral” rating on shares of PacWest Bancorp in a research note on Monday, July 16th. Stephens reiterated a “buy” rating and set a $58.00 price objective on shares of PacWest Bancorp in a research note on Friday, July 13th. Finally, Sandler O’Neill reiterated a “buy” rating and set a $58.00 price objective on shares of PacWest Bancorp in a research note on Friday, July 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $55.82.
NASDAQ:PACW traded down $1.71 during trading hours on Thursday, reaching $47.85. 2,441,300 shares of the company traded hands, compared to its average volume of 837,818. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 1.35 and a beta of 1.40. PacWest Bancorp has a 1 year low of $43.61 and a 1 year high of $55.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.34.
PacWest Bancorp (NASDAQ:PACW) last announced its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.05. The business had revenue of $301.97 million during the quarter, compared to analysts’ expectations of $293.62 million. PacWest Bancorp had a return on equity of 8.70% and a net margin of 33.41%. During the same quarter in the previous year, the business earned $0.77 earnings per share. equities research analysts predict that PacWest Bancorp will post 3.72 EPS for the current year.
In other PacWest Bancorp news, Director Tanya M. Acker bought 1,000 shares of PacWest Bancorp stock in a transaction on Friday, September 14th. The stock was acquired at an average price of $50.26 per share, with a total value of $50,260.00. Following the acquisition, the director now owns 3,900 shares in the company, valued at $196,014. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.01% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its holdings in shares of PacWest Bancorp by 8.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 12,959 shares of the financial services provider’s stock worth $640,000 after purchasing an additional 1,034 shares in the last quarter. HPM Partners LLC increased its holdings in shares of PacWest Bancorp by 22.6% in the 2nd quarter. HPM Partners LLC now owns 5,833 shares of the financial services provider’s stock worth $288,000 after purchasing an additional 1,074 shares in the last quarter. Charter Trust Co. increased its holdings in shares of PacWest Bancorp by 18.8% in the 2nd quarter. Charter Trust Co. now owns 7,998 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 1,263 shares in the last quarter. Mckinley Capital Management LLC Delaware increased its holdings in shares of PacWest Bancorp by 5.7% in the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 24,185 shares of the financial services provider’s stock worth $1,195,000 after purchasing an additional 1,296 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of PacWest Bancorp by 6.9% in the 2nd quarter. Bank of Montreal Can now owns 20,677 shares of the financial services provider’s stock worth $1,022,000 after purchasing an additional 1,332 shares in the last quarter. 87.42% of the stock is owned by institutional investors and hedge funds.
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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