PacWest Bancorp (NASDAQ:PACW) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Thursday.

PACW has been the subject of a number of other research reports. Raymond James Financial downgraded PacWest Bancorp from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, October 17th. Zacks Investment Research downgraded PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Friday, October 13th. DA Davidson reissued a “buy” rating and issued a $59.00 price target on shares of PacWest Bancorp in a report on Friday, January 19th. SunTrust Banks reissued a “hold” rating and issued a $54.00 price target on shares of PacWest Bancorp in a report on Tuesday, January 9th. Finally, UBS Group downgraded PacWest Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 1st. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $55.18.

Shares of PacWest Bancorp (NASDAQ PACW) opened at $51.59 on Thursday. PacWest Bancorp has a 1 year low of $43.08 and a 1 year high of $57.53. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $6,504.82, a PE ratio of 17.67, a PEG ratio of 1.45 and a beta of 1.52.

PacWest Bancorp (NASDAQ:PACW) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.08). The company had revenue of $289.75 million during the quarter, compared to analysts’ expectations of $297.74 million. PacWest Bancorp had a return on equity of 7.65% and a net margin of 30.12%. During the same period in the previous year, the company earned $0.71 EPS. research analysts expect that PacWest Bancorp will post 3.47 EPS for the current fiscal year.

PacWest Bancorp announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 16th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

In other PacWest Bancorp news, Director Daniel B. Platt sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $53.61, for a total transaction of $375,270.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Nova Scotia acquired a new stake in PacWest Bancorp during the second quarter valued at approximately $1,742,000. Crestline Management LP raised its position in shares of PacWest Bancorp by 1,500.0% during the 3rd quarter. Crestline Management LP now owns 96,000 shares of the financial services provider’s stock worth $4,849,000 after purchasing an additional 90,000 shares during the period. WESPAC Advisors LLC raised its position in shares of PacWest Bancorp by 5.5% during the 3rd quarter. WESPAC Advisors LLC now owns 36,297 shares of the financial services provider’s stock worth $1,833,000 after purchasing an additional 1,907 shares during the period. TIAA FSB acquired a new stake in shares of PacWest Bancorp during the 3rd quarter worth approximately $674,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of PacWest Bancorp during the 3rd quarter worth approximately $313,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

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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.

Analyst Recommendations for PacWest Bancorp (NASDAQ:PACW)

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