PacWest Bancorp (PACW) – Investment Analysts’ Weekly Ratings Changes

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

  • 1/14/2019 – PacWest Bancorp had its “outperform” rating reaffirmed by analysts at JMP Securities. They now have a $44.00 price target on the stock, down previously from $59.00.
  • 1/11/2019 – PacWest Bancorp was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 1/8/2019 – PacWest Bancorp was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” 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. “
  • 12/26/2018 – PacWest Bancorp was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” 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. “
  • 12/25/2018 – PacWest Bancorp was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 11/19/2018 – PacWest Bancorp was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.

PACW stock traded up $0.37 on Monday, hitting $36.66. 73,284 shares of the company’s stock were exchanged, compared to its average volume of 1,294,165. PacWest Bancorp has a 12-month low of $31.16 and a 12-month high of $55.86. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 0.95 and a beta of 1.48.

PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The business had revenue of $297.23 million during the quarter, compared to analysts’ expectations of $301.52 million. PacWest Bancorp had a return on equity of 8.95% and a net margin of 33.60%. During the same quarter in the previous year, the firm posted $0.84 EPS. As a group, equities research analysts anticipate that PacWest Bancorp will post 3.7 earnings per share for the current year.

In other PacWest Bancorp news, insider James Pieczynski purchased 10,000 shares of PacWest Bancorp stock in a transaction that occurred on Wednesday, November 28th. The stock was bought at an average price of $39.72 per share, with a total value of $397,200.00. Following the acquisition, the insider now owns 47,497 shares of the company’s stock, valued at approximately $1,886,580.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew P. Wagner purchased 20,925 shares of PacWest Bancorp stock in a transaction that occurred on Monday, October 29th. The stock was acquired at an average cost of $39.01 per share, with a total value of $816,284.25. Following the acquisition, the chief executive officer now directly owns 530,552 shares in the company, valued at approximately $20,696,833.52. The disclosure for this purchase can be found here. In the last three months, insiders bought 40,925 shares of company stock valued at $1,625,784. Insiders own 1.01% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vident Investment Advisory LLC raised its holdings in PacWest Bancorp by 84.9% in the 2nd quarter. Vident Investment Advisory LLC now owns 13,437 shares of the financial services provider’s stock worth $664,000 after purchasing an additional 6,169 shares during the period. Verition Fund Management LLC raised its holdings in PacWest Bancorp by 43.4% in the 2nd quarter. Verition Fund Management LLC now owns 20,278 shares of the financial services provider’s stock worth $1,002,000 after purchasing an additional 6,133 shares during the period. GAM Holding AG acquired a new position in PacWest Bancorp in the 3rd quarter worth about $208,000. Systematic Financial Management LP raised its holdings in PacWest Bancorp by 35.3% in the 3rd quarter. Systematic Financial Management LP now owns 133,635 shares of the financial services provider’s stock worth $6,368,000 after purchasing an additional 34,885 shares during the period. Finally, Voya Investment Management LLC raised its holdings in PacWest Bancorp by 19.7% in the 2nd quarter. Voya Investment Management LLC now owns 54,743 shares of the financial services provider’s stock worth $2,705,000 after purchasing an additional 9,017 shares during the period. 88.46% of the stock is owned by institutional investors.

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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