PacWest Bancorp (NASDAQ:PACW) was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday, ValuEngine reports.

Several other research firms have also issued reports on PACW. Raymond James lowered PacWest Bancorp from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 8th. BidaskClub upgraded PacWest Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. Stephens reiterated a “buy” rating and set a $43.00 target price on shares of PacWest Bancorp in a report on Tuesday, July 16th. Zacks Investment Research lowered PacWest Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, TheStreet lowered PacWest Bancorp from a “b-” rating to a “c+” rating in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $42.67.

Shares of PACW stock traded up $0.25 on Thursday, hitting $38.27. 1,302,400 shares of the stock were exchanged, compared to its average volume of 930,163. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $4.44 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 0.93 and a beta of 1.49. The business has a 50-day moving average of $35.03 and a 200 day moving average of $37.76. PacWest Bancorp has a fifty-two week low of $31.16 and a fifty-two week high of $51.05.

PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.13. The company had revenue of $311.79 million during the quarter, compared to analysts’ expectations of $291.71 million. PacWest Bancorp had a return on equity of 9.83% and a net margin of 34.54%. During the same period in the prior year, the firm earned $0.92 earnings per share. As a group, research analysts forecast that PacWest Bancorp will post 3.88 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hancock Whitney Corp raised its holdings in PacWest Bancorp by 13.0% during the second quarter. Hancock Whitney Corp now owns 34,526 shares of the financial services provider’s stock worth $1,340,000 after acquiring an additional 3,967 shares in the last quarter. Atria Investments LLC bought a new stake in PacWest Bancorp in the second quarter valued at approximately $1,171,000. Neumeier Poma Investment Counsel LLC raised its stake in PacWest Bancorp by 7.5% in the second quarter. Neumeier Poma Investment Counsel LLC now owns 1,010,920 shares of the financial services provider’s stock valued at $39,254,000 after buying an additional 70,330 shares during the period. Prudential PLC raised its stake in PacWest Bancorp by 6.5% in the second quarter. Prudential PLC now owns 39,500 shares of the financial services provider’s stock valued at $1,534,000 after buying an additional 2,400 shares during the period. Finally, Verition Fund Management LLC bought a new stake in PacWest Bancorp in the second quarter valued at approximately $587,000. Institutional investors and hedge funds own 88.52% 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.

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Analyst Recommendations for PacWest Bancorp (NASDAQ:PACW)

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