PacWest Bancorp (NASDAQ:PACW) Raised to “Hold” at BidaskClub
Several other research firms have also recently commented on PACW. Raymond James cut shares of First Midwest Bancorp to a hold rating in a research note on Monday, July 8th. ValuEngine raised shares of Vale from a sell rating to a hold rating in a research note on Tuesday, July 16th. Wells Fargo & Co reaffirmed a buy rating on shares of Morgan Stanley in a research note on Wednesday, April 17th. Stephens reaffirmed a buy rating and issued a $43.00 price objective on shares of PacWest Bancorp in a research note on Tuesday, July 16th. Finally, Zacks Investment Research cut shares of EXACT Sciences from a hold rating to a sell rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $43.00.
PacWest Bancorp stock opened at $37.63 on Friday. The firm has a market cap of $4.47 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 0.98 and a beta of 1.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.96 and a current ratio of 0.99. The firm’s 50-day moving average is $38.01. PacWest Bancorp has a 52 week low of $31.16 and a 52 week high of $52.15.
Several hedge funds have recently bought and sold shares of PACW. First Hawaiian Bank boosted its holdings in shares of PacWest Bancorp by 128.5% during the first quarter. First Hawaiian Bank now owns 786 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 442 shares during the period. Parallel Advisors LLC boosted its holdings in shares of PacWest Bancorp by 57.0% during the first quarter. Parallel Advisors LLC now owns 879 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 319 shares during the period. Avestar Capital LLC acquired a new stake in shares of PacWest Bancorp during the first quarter worth approximately $39,000. Icon Wealth Partners LLC acquired a new stake in PacWest Bancorp in the first quarter valued at approximately $58,000. Finally, First Interstate Bank lifted its stake 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 valued at $151,000 after acquiring an additional 840 shares during the last quarter. Institutional investors and hedge funds own 89.50% 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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