ValuEngine downgraded shares of PacWest Bancorp (NASDAQ:PACW) from a sell rating to a strong sell rating in a report released on Tuesday morning, ValuEngine reports.

Other equities research analysts have also issued reports about the stock. Stephens reiterated a hold rating and set a $33.00 price target on shares of Bancorpsouth Bank in a research note on Thursday, March 21st. Wells Fargo & Co reiterated a buy rating on shares of Morgan Stanley in a research note on Wednesday, April 17th. Raymond James lowered shares of First Midwest Bancorp to a hold rating in a research note on Monday, July 8th. Zacks Investment Research lowered shares of EXACT Sciences from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Finally, BidaskClub lowered shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $44.67.

Shares of PACW traded up $0.11 during midday trading on Tuesday, reaching $37.69. The stock had a trading volume of 58,237 shares, compared to its average volume of 927,906. PacWest Bancorp has a 1-year low of $31.16 and a 1-year high of $52.15. The business has a fifty day moving average price of $37.99. The firm has a market capitalization of $4.41 billion, a P/E ratio of 10.13, a price-to-earnings-growth ratio of 0.97 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.

PacWest Bancorp (NASDAQ:PACW) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.13. PacWest Bancorp had a net margin of 34.54% and a return on equity of 9.83%. The business had revenue of $311.79 million for the quarter, compared to analyst estimates of $291.71 million. During the same period last year, the business earned $0.92 EPS. Research analysts expect that PacWest Bancorp will post 3.85 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. FMR LLC increased its stake in PacWest Bancorp by 117.6% in the fourth quarter. FMR LLC now owns 2,664,592 shares of the financial services provider’s stock valued at $88,677,000 after purchasing an additional 1,439,867 shares during the period. Norges Bank acquired a new position in PacWest Bancorp during the fourth quarter worth approximately $38,929,000. Ceredex Value Advisors LLC increased its position in PacWest Bancorp by 36.7% during the first quarter. Ceredex Value Advisors LLC now owns 2,008,750 shares of the financial services provider’s stock worth $75,549,000 after purchasing an additional 539,050 shares during the last quarter. Principal Financial Group Inc. increased its position in PacWest Bancorp by 9.8% during the first quarter. Principal Financial Group Inc. now owns 4,581,899 shares of the financial services provider’s stock worth $172,328,000 after purchasing an additional 410,280 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in PacWest Bancorp by 315.3% during the fourth quarter. Two Sigma Investments LP now owns 524,930 shares of the financial services provider’s stock worth $17,470,000 after purchasing an additional 398,536 shares during the last quarter. Hedge funds and other institutional investors own 89.52% of the company’s stock.

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.

See Also: Liquidity

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Analyst Recommendations for PacWest Bancorp (NASDAQ:PACW)

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