PacWest Bancorp (NASDAQ:PACW)‘s stock had its “buy” rating reissued by stock analysts at DA Davidson in a research report issued on Friday. They presently have a $59.00 price objective on the financial services provider’s stock. DA Davidson’s price target would indicate a potential upside of 12.08% from the company’s current price.

Several other equities analysts have also issued reports on PACW. UBS Group lowered shares of PacWest Bancorp from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, October 17th. FBR & Co lowered shares of PacWest Bancorp from a “buy” rating to a “neutral” rating and set a $50.00 target price for the company. in a research note on Wednesday, October 18th. SunTrust Banks reaffirmed a “hold” rating and issued a $49.00 target price on shares of PacWest Bancorp in a research note on Thursday, October 12th. BidaskClub upgraded shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $59.00 price objective on shares of PacWest Bancorp in a research note on Friday, December 22nd. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. PacWest Bancorp presently has an average rating of “Hold” and a consensus target price of $54.82.

Shares of PacWest Bancorp (NASDAQ PACW) traded up $0.26 during trading on Friday, hitting $52.64. 1,784,400 shares of the company’s stock traded hands, compared to its average volume of 930,867. The company has a market cap of $6,910.00, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.57 and a beta of 1.59. PacWest Bancorp has a 52 week low of $43.08 and a 52 week high of $57.53. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15.

PacWest Bancorp (NASDAQ:PACW) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). PacWest Bancorp had a net margin of 30.80% and a return on equity of 7.87%. During the same quarter in the prior year, the firm posted $0.71 EPS. research analysts forecast that PacWest Bancorp will post 3 earnings per share for the current fiscal year.

PacWest Bancorp declared that its board has authorized a stock buyback plan on Thursday, November 16th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

A number of institutional investors have recently added to or reduced their stakes in the business. First Allied Advisory Services Inc. raised its holdings in PacWest Bancorp by 1.1% in the 2nd 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 during the period. 1st Global Advisors Inc. grew its position in shares of PacWest Bancorp by 3.4% during the 2nd quarter. 1st Global Advisors Inc. now owns 5,180 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 169 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of PacWest Bancorp by 0.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 44,781 shares of the financial services provider’s stock worth $2,091,000 after purchasing an additional 408 shares in the last quarter. Aureus Asset Management LLC grew its position in shares of PacWest Bancorp by 3.9% during the 2nd quarter. Aureus Asset Management LLC now owns 11,033 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 410 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of PacWest Bancorp by 4.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,662 shares of the financial services provider’s stock worth $452,000 after purchasing an additional 452 shares in the last quarter. 82.38% of the stock is currently owned by hedge funds and other institutional investors.

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About PacWest Bancorp

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 October 23, 2017, the Bank offered a range of loan and deposit products and services through 83 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)

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