BidaskClub upgraded shares of PacWest Bancorp (NASDAQ:PACW) from a sell rating to a hold rating in a report issued on Thursday, BidAskClub reports.

PACW has been the topic of several other research reports. Raymond James cut shares of PacWest Bancorp from a strong-buy rating to a market perform rating in a report on Monday, July 8th. Royal Bank of Canada initiated coverage on shares of PacWest Bancorp in a report on Friday, August 23rd. They issued an outperform rating and a $40.00 price target on the stock. Stephens reiterated a buy rating and issued a $43.00 price target on shares of PacWest Bancorp in a report on Tuesday, July 16th. ValuEngine cut shares of PacWest Bancorp from a sell rating to a strong sell rating in a report on Tuesday, July 16th. Finally, TheStreet cut shares of PacWest Bancorp from a b- rating to a c+ rating in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $42.67.

NASDAQ:PACW traded down $0.05 during trading hours on Thursday, hitting $38.22. The company had a trading volume of 76,022 shares, compared to its average volume of 767,868. The company has a market capitalization of $4.59 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 0.95 and a beta of 1.49. The stock has a 50-day moving average price of $35.03 and a 200 day moving average price of $37.76. PacWest Bancorp has a 52 week low of $31.16 and a 52 week high of $51.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.99 and a quick ratio of 0.99.

PacWest Bancorp (NASDAQ:PACW) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.13. The business had revenue of $311.79 million for the quarter, compared to analysts’ expectations of $291.71 million. PacWest Bancorp had a net margin of 34.54% and a return on equity of 9.83%. During the same quarter in the previous year, the business posted $0.92 earnings per share. Analysts anticipate that PacWest Bancorp will post 3.88 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date of this dividend was Monday, August 19th. PacWest Bancorp’s dividend payout ratio (DPR) is presently 64.52%.

Hedge funds have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of PacWest Bancorp during the 2nd quarter valued at $26,000. Steward Partners Investment Advisory LLC bought a new stake in shares of PacWest Bancorp during the 2nd quarter valued at $31,000. Parallel Advisors LLC boosted its holdings in shares of PacWest Bancorp by 57.0% during the 1st quarter. Parallel Advisors LLC now owns 879 shares of the financial services provider’s stock valued at $33,000 after buying an additional 319 shares in the last quarter. AGF Investments LLC boosted its holdings in shares of PacWest Bancorp by 81.8% during the 2nd quarter. AGF Investments LLC now owns 938 shares of the financial services provider’s stock valued at $36,000 after buying an additional 422 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of PacWest Bancorp by 48.0% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 965 shares of the financial services provider’s stock valued at $37,000 after buying an additional 313 shares in the last quarter. Hedge funds and other institutional investors own 88.52% of the company’s stock.

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.

Further Reading: Return on Investment (ROI)

Analyst Recommendations for PacWest Bancorp (NASDAQ:PACW)

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