PacWest Bancorp (NASDAQ:PACW) had its price objective dropped by equities research analysts at Raymond James from $48.00 to $45.00 in a research report issued to clients and investors on Wednesday, BenzingaRatingsTable reports. The brokerage currently has a “strong-buy” rating on the financial services provider’s stock. Raymond James’ target price indicates a potential upside of 12.87% from the stock’s current price.
Other equities research analysts also recently issued reports about the company. BMO Capital Markets boosted their price target on PacWest Bancorp to $38.00 in a report on Tuesday, January 22nd. TheStreet upgraded PacWest Bancorp from a “c+” rating to a “b-” rating in a report on Monday, February 25th. Stephens reiterated a “buy” rating and issued a $43.00 price target on shares of PacWest Bancorp in a report on Thursday, March 21st. BidaskClub upgraded PacWest Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Finally, Zacks Investment Research upgraded PacWest Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $46.11.
Shares of NASDAQ PACW opened at $39.87 on Wednesday. PacWest Bancorp has a twelve month low of $31.16 and a twelve month high of $55.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $4.71 billion, a PE ratio of 10.72, a PEG ratio of 1.04 and a beta of 1.53.
PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.01. PacWest Bancorp had a return on equity of 9.64% and a net margin of 35.33%. The business had revenue of $285.94 million during the quarter, compared to the consensus estimate of $291.86 million. During the same period in the previous year, the business earned $0.93 EPS. On average, equities analysts forecast that PacWest Bancorp will post 3.77 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Enlightenment Research LLC bought a new position in PacWest Bancorp during the 4th quarter worth $27,000. First Hawaiian Bank grew its stake in PacWest Bancorp by 128.5% during the 1st quarter. First Hawaiian Bank now owns 786 shares of the financial services provider’s stock worth $30,000 after buying an additional 442 shares during the last quarter. JOYN Advisors Inc. grew its stake in PacWest Bancorp by 439.6% during the 4th quarter. JOYN Advisors Inc. now owns 1,511 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,231 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in PacWest Bancorp by 3,228.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,692,721 shares of the financial services provider’s stock worth $51,000 after buying an additional 1,641,858 shares during the last quarter. Finally, Lindbrook Capital LLC bought a new position in PacWest Bancorp during the 4th quarter worth $52,000. Hedge funds and other institutional investors own 93.12% of the company’s stock.
About PacWest Bancorp
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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