PacWest Bancorp (NASDAQ:PACW) Upgraded to “Hold” by ValuEngine
Other equities research analysts also recently issued reports about the company. BidaskClub downgraded PacWest Bancorp from a sell rating to a strong sell rating in a research report on Friday, January 10th. Zacks Investment Research raised PacWest Bancorp from a sell rating to a hold rating in a research report on Wednesday, December 25th. Finally, SunTrust Banks decreased their target price on PacWest Bancorp from $40.00 to $39.00 and set a hold rating on the stock in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $41.38.
PACW stock traded up $0.49 during trading on Thursday, reaching $37.99. 993,375 shares of the stock were exchanged, compared to its average volume of 910,031. PacWest Bancorp has a twelve month low of $32.64 and a twelve month high of $41.60. The company has a market capitalization of $4.42 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 1.07 and a beta of 1.47. The stock has a 50 day simple moving average of $37.83 and a 200-day simple moving average of $36.93. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.35.
In related news, COO Mark Yung acquired 2,670 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were bought at an average cost of $37.37 per share, with a total value of $99,777.90. Following the completion of the acquisition, the chief operating officer now owns 55,558 shares of the company’s stock, valued at $2,076,202.46. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.18% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PACW. Huntington National Bank boosted its holdings in PacWest Bancorp by 68,000.0% during the fourth quarter. Huntington National Bank now owns 681 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 680 shares in the last quarter. Parallel Advisors LLC boosted its holdings in PacWest Bancorp by 116.6% during the third quarter. Parallel Advisors LLC now owns 1,189 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 640 shares in the last quarter. IFP Advisors Inc boosted its holdings in PacWest Bancorp by 802.1% during the fourth quarter. IFP Advisors Inc now owns 1,759 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 1,564 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in PacWest Bancorp during the second quarter valued at approximately $105,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in PacWest Bancorp by 352.0% during the third quarter. Steward Partners Investment Advisory LLC now owns 3,634 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 2,830 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.
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: Correction
To view ValuEngine’s full report, visit ValuEngine’s official website.
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