PacWest Bancorp (PACW) Receiving Somewhat Favorable Press Coverage, Analysis Finds
News headlines about PacWest Bancorp (NASDAQ:PACW) have trended somewhat positive on Thursday, Accern reports. The research firm rates the sentiment of media coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. PacWest Bancorp earned a media sentiment score of 0.23 on Accern’s scale. Accern also assigned media headlines about the financial services provider an impact score of 45.4056409913471 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
These are some of the news stories that may have effected Accern’s scoring:
- What Does MACD Oscillator Analysis predict about Pacwest Bancorp (NASDAQ:PACW)? – The Oracle Examiner (oracleexaminer.com)
- PacWest Bancorp Forecasted to Earn Q1 2018 Earnings of $0.80 Per Share (PACW) (americanbankingnews.com)
- PacWest Bancorp (PACW) Set to Announce Earnings on Wednesday (americanbankingnews.com)
- Q1 2019 Earnings Estimate for PacWest Bancorp (PACW) Issued By SunTrust Banks (americanbankingnews.com)
- Pacific Western Bank Donates $100,000 to Thomas Fire Recovery (bizjournals.com)
PacWest Bancorp (NASDAQ PACW) traded up $0.52 during midday trading on Thursday, reaching $52.64. The company had a trading volume of 695,100 shares, compared to its average volume of 1,040,000. The company has a market cap of $6,790.00, a price-to-earnings ratio of 17.78, a PEG ratio of 1.60 and a beta of 1.59. PacWest Bancorp has a 1-year low of $43.08 and a 1-year high of $57.53. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93.
PacWest Bancorp declared that its Board of Directors has approved a share buyback plan on Thursday, November 16th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
A number of brokerages have recently issued reports on PACW. B. Riley reissued a “hold” rating and issued a $50.00 target price on shares of PacWest Bancorp in a report on Monday, December 11th. Raymond James Financial cut PacWest Bancorp from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, October 17th. Zacks Investment Research cut PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Piper Jaffray Companies reissued a “buy” rating and issued a $54.00 target price on shares of PacWest Bancorp in a report on Thursday, October 19th. Finally, SunTrust Banks reissued a “hold” rating and issued a $54.00 target price on shares of PacWest Bancorp in a report on Tuesday. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. PacWest Bancorp currently has an average rating of “Hold” and an average target price of $53.64.
In other news, CFO Patrick J. Rusnak acquired 2,000 shares of the firm’s stock in a transaction on Thursday, October 19th. The shares were purchased at an average cost of $46.92 per share, for a total transaction of $93,840.00. Following the transaction, the chief financial officer now owns 77,852 shares of the company’s stock, valued at $3,652,815.84. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.98% of the stock is currently owned by company insiders.
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. As of October 23, 2017, the Bank offered a range of loan and deposit products and services through 83 branches located throughout the state of California, one branch located in Durham, North Carolina, and several loan production offices located in cities across the country.
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