PacWest Bancorp (NASDAQ:PACW) Given Average Recommendation of “Hold” by Analysts
Shares of PacWest Bancorp (NASDAQ:PACW) have been given a consensus recommendation of “Hold” by the thirteen ratings firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $44.86.
Several analysts have issued reports on the stock. BidaskClub lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research lowered shares of EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Raymond James lowered shares of First Midwest Bancorp to a “hold” rating in a report on Monday, July 8th. Wells Fargo & Co reiterated a “buy” rating on shares of Morgan Stanley in a report on Wednesday, April 17th. Finally, Stephens reiterated a “hold” rating and set a $33.00 target price on shares of Bancorpsouth Bank in a report on Thursday, March 21st.
Several institutional investors have recently bought and sold shares of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in shares of PacWest Bancorp by 7.5% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,006 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 279 shares during the period. Parallel Advisors LLC raised its stake in PacWest Bancorp by 57.0% in the first quarter. Parallel Advisors LLC now owns 879 shares of the financial services provider’s stock worth $33,000 after buying an additional 319 shares in the last quarter. Cadence Capital Management LLC raised its stake in PacWest Bancorp by 6.1% in the first quarter. Cadence Capital Management LLC now owns 6,851 shares of the financial services provider’s stock worth $258,000 after buying an additional 394 shares in the last quarter. First Hawaiian Bank raised its stake in PacWest Bancorp by 128.5% in the first quarter. First Hawaiian Bank now owns 786 shares of the financial services provider’s stock worth $30,000 after buying an additional 442 shares in the last quarter. Finally, Mason Street Advisors LLC raised its stake in PacWest Bancorp by 0.7% in the first quarter. Mason Street Advisors LLC now owns 64,238 shares of the financial services provider’s stock worth $2,416,000 after buying an additional 455 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.
PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.01. PacWest Bancorp had a net margin of 34.47% and a return on equity of 9.58%. The business had revenue of $285.94 million during the quarter, compared to analyst estimates of $291.86 million. During the same period in the prior year, the business posted $0.93 earnings per share. On average, sell-side analysts anticipate that PacWest Bancorp will post 3.81 earnings per share for the current year.
About PacWest Bancorp
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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