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. “
Several other equities research analysts have also recently commented on the stock. Royal Bank of Canada started coverage on shares of PacWest Bancorp in a research report on Friday, August 23rd. They issued an outperform rating and a $40.00 price target on the stock. BidaskClub cut shares of PacWest Bancorp from a hold rating to a sell rating in a research report on Friday, October 4th. TheStreet cut shares of PacWest Bancorp from a b- rating to a c+ rating in a research report on Tuesday, August 27th. Stephens reiterated a buy rating and issued a $43.00 price target on shares of PacWest Bancorp in a research report on Tuesday, July 16th. Finally, ValuEngine upgraded shares of PacWest Bancorp from a strong sell rating to a sell rating in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. PacWest Bancorp has an average rating of Hold and an average target price of $41.67.
Shares of PacWest Bancorp stock opened at $36.23 on Tuesday. 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 company’s 50-day moving average price is $35.51 and its two-hundred day moving average price is $37.29. PacWest Bancorp has a 52 week low of $31.16 and a 52 week high of $47.57. The stock has a market cap of $4.16 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 0.91 and a beta of 1.50.
PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.94 by $0.13. PacWest Bancorp had a net margin of 34.54% and a return on equity of 9.83%. The firm had revenue of $311.79 million for the quarter, compared to analysts’ expectations of $291.71 million. During the same period in the previous year, the business earned $0.92 earnings per share. On average, equities analysts predict that PacWest Bancorp will post 3.85 EPS for the current fiscal year.
In other PacWest Bancorp news, EVP Mark A. Christian sold 9,500 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $37.89, for a total transaction of $359,955.00. Following the sale, the executive vice president now owns 24,781 shares in the company, valued at approximately $938,952.09. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.18% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PACW. First Trust Advisors LP raised its holdings in PacWest Bancorp by 19.6% during the 1st quarter. First Trust Advisors LP now owns 721,096 shares of the financial services provider’s stock worth $27,120,000 after buying an additional 118,175 shares during the period. Swiss National Bank raised its holdings in PacWest Bancorp by 1.6% during the 1st quarter. Swiss National Bank now owns 221,873 shares of the financial services provider’s stock worth $8,345,000 after buying an additional 3,600 shares during the period. Xact Kapitalforvaltning AB raised its holdings in PacWest Bancorp by 13.0% during the 1st quarter. Xact Kapitalforvaltning AB now owns 20,911 shares of the financial services provider’s stock worth $786,000 after buying an additional 2,400 shares during the period. Federated Investors Inc. PA raised its holdings in PacWest Bancorp by 274.9% during the 1st quarter. Federated Investors Inc. PA now owns 168,810 shares of the financial services provider’s stock worth $6,349,000 after buying an additional 123,780 shares during the period. Finally, GAM Holding AG acquired a new stake in PacWest Bancorp during the 1st quarter worth about $301,000. Hedge funds and other institutional investors own 88.41% 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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