The stock of PacWest Bancorp (NASDAQ:PACW) hit a new 52-week high and has $54.96 target or 6.00% above today’s $51.85 share price. The 7 months bullish chart indicates low risk for the $6.37B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $54.96 price target is reached, the company will be worth $382.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 299,640 shares traded hands. PacWest Bancorp (NASDAQ:PACW) has risen 28.37% since April 21, 2016 and is uptrending. It has outperformed by 23.04% the S&P500.
Analysts await PacWest Bancorp (NASDAQ:PACW) to report earnings on January, 19. They expect $0.72 earnings per share, up 2.86% or $0.02 from last year’s $0.7 per share. PACW’s profit will be $88.46 million for 18.00 P/E if the $0.72 EPS becomes a reality. After $0.77 actual earnings per share reported by PacWest Bancorp for the previous quarter, Wall Street now forecasts -6.49% negative EPS growth.
PacWest Bancorp (NASDAQ:PACW) Ratings Coverage
Out of 8 analysts covering Pacwest Bancorp (NASDAQ:PACW), 4 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. Pacwest Bancorp has been the topic of 10 analyst reports since October 13, 2015 according to StockzIntelligence Inc. The rating was downgraded by Wells Fargo on Tuesday, October 4 to “Market Perform”. The stock has “Overweight” rating given by Piper Jaffray on Tuesday, October 13. BMO Capital Markets downgraded the stock to “Market Perform” rating in Thursday, January 14 report. JMP Securities initiated the shares of PACW in a report on Friday, September 16 with “Mkt Outperform” rating. The firm earned “Neutral” rating on Monday, July 18 by DA Davidson. The firm earned “Outperform” rating on Thursday, March 24 by Wood. The firm earned “Outperform” rating on Monday, December 21 by Wells Fargo. The stock of PacWest Bancorp (NASDAQ:PACW) has “Sector Perform” rating given on Monday, October 19 by RBC Capital Markets.
According to Zacks Investment Research, “PACWEST BANCORP, formerly First Community Bancorp, with one wholly-owned banking subsidiary, Pacific Western Bank. Through sixty full-service community banking branches, Pacific Western provides commercial banking services, including real estate, construction and commercial loans, to small and medium-sized businesses. Pacific Western’s branches are located in Los Angeles, Orange, Riverside, San Diego and San Bernardino Counties. Through its subsidiary BFI Business Finance and its divisions First Community Financial and Pacific Western SBA Lending, Pacific Western also provides working capital financing to growing companies located throughout the Southwest, primarily in the states of Arizona, California and Texas.”
Insitutional Activity: The institutional sentiment increased to 1.27 in Q2 2016. Its up 0.04, from 1.23 in 2016Q1. The ratio increased, as 34 funds sold all PacWest Bancorp shares owned while 86 reduced positions. 31 funds bought stakes while 116 increased positions. They now own 108.97 million shares or 0.02% less from 108.99 million shares in 2016Q1.
Financial Advisers Lc, a California-based fund reported 23,710 shares. Invesco Limited has 281,126 shares for 0% of their US portfolio. Iowa Comml Bank has invested 0% of its portfolio in PacWest Bancorp (NASDAQ:PACW). Victory Management last reported 1.25M shares in the company. First Interstate National Bank & Trust accumulated 3,650 shares or 0.03% of the stock. Moreover, Northern Tru has 0.02% invested in PacWest Bancorp (NASDAQ:PACW) for 1.18M shares. Whittier Tru owns 70 shares or 0% of their US portfolio. Rothschild Asset last reported 383,657 shares in the company. Research Glob Investors last reported 261,342 shares in the company. Capital Intl Ca owns 2,500 shares or 0.01% of their US portfolio. Pitcairn Co owns 7,872 shares or 0.04% of their US portfolio. Bbva Compass National Bank & Trust last reported 0.02% of its portfolio in the stock. Moreover, Breton Hill Ltd has 0.27% invested in PacWest Bancorp (NASDAQ:PACW) for 20,886 shares. Frontier Mngmt Com Limited Liability Corp, a Massachusetts-based fund reported 728,403 shares. Alliancebernstein L P has 0% invested in the company for 77,599 shares.
More important recent PacWest Bancorp (NASDAQ:PACW) news were published by: Nasdaq.com which released: “PacWest Bancorp (PACW) Passes Through 4% Yield Mark” on November 15, 2016, also Reuters.com published article titled: “BRIEF-PacWest Bancorp Q3 earnings per share $0.77”, Nasdaq.com published: “PacWest Bancorp Reaches Analyst Target Price” on November 11, 2016. More interesting news about PacWest Bancorp (NASDAQ:PACW) was released by: Nasdaq.com and their article: “Ex-Dividend Reminder: TCF Financial, Selective Insurance Group and PacWest Bancorp” with publication date: November 08, 2016.
PACW Company Profile
PacWest Bancorp, incorporated on March 24, 2008, is a bank holding firm for Pacific Western Bank (the Bank). The Firm is focused on relationship business banking to small, middle-market and venture-backed businesses. The Bank offers a range of loan and deposit services and products through approximately 80 branches located throughout the state of California. The Firm provides commercial banking services, and deposit and treasury management services to small and middle-market businesses. It offers services and products under the brand names of Pacific Western, as well as its business groups, CapitalSource Inc. and Square 1 Bank. CapitalSource focuses on providing cash flow, asset-based, equipment and real estate loans and treasury management services to middle market businesses. Square 1 Bank focuses on providing a range of financial products to service entrepreneurial businesses and their venture capital and private equity investors. Square 1 Asset Management, Inc., a subsidiary of the Bank, provides investment advisory and asset management services.
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