Shares of PacWest Bancorp (NASDAQ:PACW – Get Rating) have been given an average rating of “Hold” by the eleven brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $23.86.
PACW has been the topic of several recent analyst reports. Truist Financial reduced their price objective on shares of PacWest Bancorp from $29.00 to $13.00 and set a “hold” rating on the stock in a research report on Thursday, March 23rd. Wells Fargo & Company cut their target price on shares of PacWest Bancorp from $30.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, April 5th. DA Davidson raised shares of PacWest Bancorp from a “neutral” rating to a “buy” rating in a report on Tuesday, March 21st. StockNews.com began coverage on shares of PacWest Bancorp in a research note on Thursday, March 16th. They set a “sell” rating for the company. Finally, Wedbush reaffirmed a “neutral” rating and set a $27.00 price objective on shares of PacWest Bancorp in a research note on Monday, March 13th.
PacWest Bancorp Price Performance
NASDAQ PACW opened at $11.32 on Tuesday. PacWest Bancorp has a 12 month low of $5.00 and a 12 month high of $34.98. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 3.35 and a beta of 1.35. The company’s 50 day moving average is $16.39 and its two-hundred day moving average is $21.83. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.76.
PacWest Bancorp (NASDAQ:PACW – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.15). The company had revenue of $353.29 million for the quarter, compared to the consensus estimate of $378.60 million. PacWest Bancorp had a net margin of 25.97% and a return on equity of 13.92%. As a group, research analysts anticipate that PacWest Bancorp will post 2.4 earnings per share for the current year.
PacWest Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Wednesday, February 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.83%. The ex-dividend date of this dividend was Tuesday, February 14th. PacWest Bancorp’s payout ratio is 29.59%.
Insider Buying and Selling at PacWest Bancorp
In other news, EVP William J. Black purchased 13,000 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was acquired at an average cost of $20.57 per share, with a total value of $267,410.00. Following the completion of the transaction, the executive vice president now owns 13,000 shares in the company, valued at approximately $267,410. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director C William Hosler acquired 3,750 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The stock was purchased at an average cost of $26.48 per share, with a total value of $99,300.00. Following the transaction, the director now directly owns 3,750 shares of the company’s stock, valued at approximately $99,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William J. Black acquired 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The stock was bought at an average cost of $20.57 per share, with a total value of $267,410.00. Following the completion of the transaction, the executive vice president now directly owns 13,000 shares in the company, valued at $267,410. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 55,583 shares of company stock valued at $1,189,046. 1.25% of the stock is currently owned by insiders.
Hedge Funds Weigh In On PacWest Bancorp
Several hedge funds and other institutional investors have recently bought and sold shares of PACW. Guardian Wealth Advisors LLC acquired a new position in PacWest Bancorp in the 3rd quarter worth approximately $31,000. Exchange Traded Concepts LLC acquired a new stake in shares of PacWest Bancorp during the 1st quarter worth approximately $37,000. Eagle Bay Advisors LLC grew its stake in shares of PacWest Bancorp by 36.3% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,668 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 444 shares during the period. Wipfli Financial Advisors LLC acquired a new stake in shares of PacWest Bancorp during the 3rd quarter worth approximately $51,000. Finally, Creative Capital Management Investments LLC acquired a new stake in shares of PacWest Bancorp during the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 91.97% of the company’s stock.
About PacWest Bancorp
PacWest Bancorp is a bank holding company, which specializes in financial and banking solutions. It offers commercial banking services including real estate, construction, commercial loans, comprehensive deposit, and treasury management services to small and middle-market businesses through the Pacific Western Bank.