Analysts at JMP Securities initiated coverage on shares of PacWest Bancorp (NASDAQ:PACW) in a research note issued on Friday. The brokerage set an “outperform” rating and a $48.00 price target on the financial services provider’s stock. JMP Securities’ price target would indicate a potential upside of 13.18% from the company’s current price.

A number of other brokerages have also recently commented on PACW. Zacks Investment Research raised shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, September 9th. FBR & Co reissued an “outperform” rating and issued a $46.00 price objective (down from $48.00) on shares of PacWest Bancorp in a research note on Monday, July 18th. DA Davidson cut shares of PacWest Bancorp from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Monday, July 18th. They noted that the move was a valuation call. Finally, BMO Capital Markets reissued a “hold” rating on shares of PacWest Bancorp in a research note on Monday, July 18th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. PacWest Bancorp has an average rating of “Buy” and an average price target of $45.43.

Shares of PacWest Bancorp (NASDAQ:PACW) opened at 42.41 on Friday. PacWest Bancorp has a one year low of $29.05 and a one year high of $48.00. The stock has a market cap of $5.11 billion, a PE ratio of 15.78 and a beta of 1.66. The firm has a 50-day moving average of $42.18 and a 200-day moving average of $39.76.

PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by $0.01. PacWest Bancorp had a return on equity of 7.57% and a net margin of 29.59%. During the same quarter in the previous year, the firm earned $0.70 earnings per share. On average, equities research analysts expect that PacWest Bancorp will post $2.86 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Monday, August 15th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $2.00 dividend on an annualized basis and a yield of 4.72%. PacWest Bancorp’s payout ratio is 74.07%.

In related news, Director John M. Eggemeyer III sold 270,000 shares of PacWest Bancorp stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $42.33, for a total transaction of $11,429,100.00. Following the completion of the sale, the director now owns 257,940 shares in the company, valued at approximately $10,918,600.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kori Ogrosky sold 2,000 shares of PacWest Bancorp stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $41.07, for a total transaction of $82,140.00. Following the sale, the executive vice president now owns 42,283 shares of the company’s stock, valued at approximately $1,736,562.81. The disclosure for this sale can be found here. Corporate insiders own 1.43% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board raised its stake in shares of PacWest Bancorp by 3.4% in the first quarter. Canada Pension Plan Investment Board now owns 3,000 shares of the financial services provider’s stock worth $111,000 after buying an additional 100 shares during the last quarter. M&T Bank Corp raised its stake in shares of PacWest Bancorp by 11.6% in the first quarter. M&T Bank Corp now owns 251,803 shares of the financial services provider’s stock worth $9,354,000 after buying an additional 26,240 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in PacWest Bancorp by 4.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,431,963 shares of the financial services provider’s stock valued at $127,497,000 after buying an additional 158,489 shares in the last quarter. BlackRock Fund Advisors raised its stake in PacWest Bancorp by 111.8% in the first quarter. BlackRock Fund Advisors now owns 8,331,277 shares of the financial services provider’s stock valued at $309,507,000 after buying an additional 4,397,698 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in PacWest Bancorp by 137.0% in the first quarter. BlackRock Group LTD now owns 190,112 shares of the financial services provider’s stock valued at $7,062,000 after buying an additional 109,899 shares in the last quarter. Institutional investors own 92.31% of the company’s stock.

PacWest Bancorp Company Profile

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. The Bank offers a range of loan and deposit products and services through approximately 80 branches located throughout the state of California.

5 Day Chart for NASDAQ:PACW

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 Analyst Ratings Network's FREE daily email newsletter.