PacWest Bancorp (PACW) Lowered to “Outperform” at Raymond James Financial, Inc.

Raymond James Financial, Inc. lowered shares of PacWest Bancorp (NASDAQ:PACW) from a strong-buy rating to an outperform rating in a research note published on Tuesday morning, MarketBeat Ratings reports.

PACW has been the subject of several other reports. Zacks Investment Research upgraded PacWest Bancorp from a sell rating to a hold rating in a report on Saturday, July 22nd. DA Davidson upgraded PacWest Bancorp from a neutral rating to a buy rating and set a $53.00 price objective for the company in a report on Thursday, September 7th. UBS AG downgraded PacWest Bancorp from a strong-buy rating to an outperform rating in a report on Tuesday. ValuEngine downgraded PacWest Bancorp from a buy rating to a hold rating in a report on Friday, September 1st. Finally, BidaskClub upgraded PacWest Bancorp from a strong sell rating to a sell rating in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $53.00.

Shares of PacWest Bancorp (PACW) traded up 2.08% on Tuesday, reaching $47.99. 2,373,453 shares of the company’s stock traded hands. PacWest Bancorp has a 12-month low of $41.28 and a 12-month high of $57.53. The stock has a 50-day moving average of $47.50 and a 200 day moving average of $47.81. The firm has a market cap of $5.83 billion, a P/E ratio of 16.21 and a beta of 1.62.

PacWest Bancorp (NASDAQ:PACW) last issued its earnings results on Tuesday, October 17th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.09. The firm had revenue of $273.07 million during the quarter, compared to analyst estimates of $281.14 million. PacWest Bancorp had a net margin of 37.16% and a return on equity of 8.78%. During the same period in the previous year, the firm earned $0.77 earnings per share. On average, equities research analysts expect that PacWest Bancorp will post $2.98 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “PacWest Bancorp (PACW) Lowered to “Outperform” at Raymond James Financial, Inc.” was originally published by BBNS and is the property of of BBNS. If you are accessing this report on another domain, it was illegally stolen and republished in violation of international copyright legislation. The correct version of this report can be read at https://baseballnewssource.com/markets/pacwest-bancorp-pacw-lowered-to-outperform-at-raymond-james-financial-inc/1722366.html.

In related news, CFO Patrick J. Rusnak acquired 2,000 shares of the business’s stock in a transaction dated Thursday, October 19th. The shares were purchased at an average price of $46.92 per share, for a total transaction of $93,840.00. Following the completion of the acquisition, the chief financial officer now directly owns 77,852 shares in the company, valued at approximately $3,652,815.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.98% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Charter Trust Co. increased its holdings in shares of PacWest Bancorp by 0.8% during the second quarter. Charter Trust Co. now owns 4,757 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 38 shares in the last quarter. Dowling & Yahnke LLC increased its holdings in shares of PacWest Bancorp by 0.8% during the second quarter. Dowling & Yahnke LLC now owns 7,858 shares of the financial services provider’s stock valued at $367,000 after acquiring an additional 65 shares in the last quarter. First Allied Advisory Services Inc. increased its holdings in shares of PacWest Bancorp by 1.1% during the second quarter. First Allied Advisory Services Inc. now owns 5,781 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 65 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of PacWest Bancorp by 1.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,895 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 79 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its holdings in shares of PacWest Bancorp by 0.5% during the first quarter. Tudor Investment Corp ET AL now owns 20,370 shares of the financial services provider’s stock valued at $1,085,000 after acquiring an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

PacWest Bancorp Company Profile

PacWest Bancorp is a bank holding company for Pacific Western Bank (the Bank). The Company is focused on relationship-based business banking to small, middle-market and venture-backed businesses. As of December 31, 2016, the Bank offered a range of loan and deposit products and services through 77 branches located throughout the state of California, one branch located in Durham, North Carolina, and several loan production offices located in cities across the country.

Analyst Recommendations for PacWest Bancorp (NASDAQ:PACW)

Receive News & Ratings for PacWest Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PacWest Bancorp and related companies with our FREE daily email newsletter.

 


Latest News

Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston Astros Relying on Justin Verlander to Save Their Season
Houston Astros Relying on Justin Verlander to Save Their Season
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Aaron Judge and Gary Sanchez Have Break Out Games
Aaron Judge and Gary Sanchez Have Break Out Games
Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends
PED Use Cost Alex Rodriguez Millions and His Reputation
PED Use Cost Alex Rodriguez Millions and His Reputation


Leave a Reply

 
© 2006-2017 BBNS.