Recent Research Analysts’ Ratings Updates for PacWest Bancorp (PACW)

PacWest Bancorp (NASDAQ: PACW) recently received a number of ratings updates from brokerages and research firms:

  • 4/21/2022 – PacWest Bancorp had its price target lowered by analysts at Raymond James from $62.00 to $51.00. They now have a “strong-buy” rating on the stock.
  • 4/21/2022 – PacWest Bancorp had its price target lowered by analysts at Wells Fargo & Company from $60.00 to $50.00. They now have an “overweight” rating on the stock.
  • 4/20/2022 – PacWest Bancorp had its price target lowered by analysts at Wedbush from $52.00 to $45.00.
  • 4/12/2022 – PacWest Bancorp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “PacWest Bancorp is a bank holding company with one wholly-owned banking subsidiary, Pacific Western Bank (the Bank). The Company provides commercial banking services, including real estate, construction, and commercial loans, and comprehensive deposit and treasury management services to small and medium-sized businesses. PacWest offers additional products and services through its CapitalSource and Square 1 Bank divisions. Its CapitalSource Division provides asset-based, equipment, real estate and security cash flow loans and treasury management services to established middle market businesses on a national basis. Its Square 1 Bank Division offers a comprehensive suite of financial services focused on entrepreneurial businesses and their venture capital and private equity investors, with offices located in key innovation hubs across the United States. “
  • 3/31/2022 – PacWest Bancorp is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.

Shares of PACW traded down $0.78 on Monday, hitting $33.72. The company’s stock had a trading volume of 11,076 shares, compared to its average volume of 1,105,224. The company has a quick ratio of 0.75, a current ratio of 0.78 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average price is $43.58 and its 200-day moving average price is $46.00. PacWest Bancorp has a fifty-two week low of $34.20 and a fifty-two week high of $51.81. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 6.97 and a beta of 1.34.

PacWest Bancorp (NASDAQ:PACWGet Rating) last issued its quarterly earnings data on Tuesday, April 19th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.03). PacWest Bancorp had a net margin of 41.84% and a return on equity of 14.96%. During the same period last year, the business earned $1.27 earnings per share. As a group, equities analysts predict that PacWest Bancorp will post 4.46 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, February 28th. Shareholders of record on Tuesday, February 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.97%. The ex-dividend date was Monday, February 14th. PacWest Bancorp’s payout ratio is 20.66%.

In other PacWest Bancorp news, EVP Bryan M. Corsini sold 1,139 shares of the business’s stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $47.85, for a total value of $54,501.15. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.25% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. UBS Asset Management Americas Inc. raised its stake in shares of PacWest Bancorp by 3.0% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 193,002 shares of the financial services provider’s stock worth $8,747,000 after purchasing an additional 5,574 shares in the last quarter. Mariner LLC bought a new stake in PacWest Bancorp in the 3rd quarter valued at $489,000. Western Financial Corporation raised its stake in PacWest Bancorp by 5.0% in the 4th quarter. Western Financial Corporation now owns 100,625 shares of the financial services provider’s stock valued at $4,545,000 after acquiring an additional 4,761 shares during the period. Bank of New York Mellon Corp raised its stake in PacWest Bancorp by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,310,831 shares of the financial services provider’s stock valued at $59,406,000 after acquiring an additional 6,631 shares during the period. Finally, Verition Fund Management LLC raised its stake in PacWest Bancorp by 80.4% in the 3rd quarter. Verition Fund Management LLC now owns 285,957 shares of the financial services provider’s stock valued at $12,960,000 after acquiring an additional 127,463 shares during the period. Institutional investors own 89.47% of the company’s stock.

PacWest Bancorp operates as the bank holding company for Pacific Western Bank that provides various 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, renovation, and construction of commercial real estate properties; small business administration loans; asset-based loans for working capital needs; venture capital loans to support the operations of entrepreneurial and venture-backed companies; and equipment-secured loans and leases.

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