The stock of PacWest Bancorp (NASDAQ:PACW) hit a new 52-week high and has $53.26 target or 3.00% above today’s $51.71 share price. The 7 months bullish chart indicates low risk for the $6.25B company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $53.26 price target is reached, the company will be worth $187.50M 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 146,390 shares traded hands. PacWest Bancorp (NASDAQ:PACW) has risen 27.39% since April 27, 2016 and is uptrending. It has outperformed by 22.16% 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 $87.02 million for 17.95 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. $51 is the highest target while $41 is the lowest. The $47 average target is -9.11% below today’s ($51.71) stock price. Pacwest Bancorp has been the topic of 10 analyst reports since October 13, 2015 according to StockzIntelligence Inc. The firm has “Mkt Outperform” rating given on Friday, September 16 by JMP Securities. The stock of PacWest Bancorp (NASDAQ:PACW) earned “Overweight” rating by Piper Jaffray on Tuesday, October 13. The firm has “Market Perform” rating given on Tuesday, October 4 by Wells Fargo. RBC Capital Markets maintained the stock with “Sector Perform” rating in Monday, October 19 report. The company was maintained on Thursday, March 24 by Wood. Wells Fargo initiated PacWest Bancorp (NASDAQ:PACW) on Monday, December 21 with “Outperform” rating. On Thursday, January 14 the stock rating was downgraded by BMO Capital Markets to “Market Perform”. The firm has “Neutral” rating given on Monday, July 18 by DA Davidson.
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.
First Mercantile Trust holds 11,046 shares or 0.05% of its portfolio. Federated Pa accumulated 65,556 shares or 0.01% of the stock. Ca accumulated 20,300 shares or 0.06% of the stock. State Of Alaska Department Of Revenue, a Alaska-based fund reported 8,850 shares. The Massachusetts-based State Street has invested 0.02% in PacWest Bancorp (NASDAQ:PACW). Bartlett & Company Ltd Company accumulated 1,995 shares or 0% of the stock. Wells Fargo & Mn has invested 0.05% of its portfolio in PacWest Bancorp (NASDAQ:PACW). State Of Wisconsin Invest Board holds 0.01% of its portfolio in PacWest Bancorp (NASDAQ:PACW) for 77,329 shares. Voya Investment Management Ltd Liability Company last reported 310,630 shares in the company. Commonwealth Of Pennsylvania Public School Empls Retrmt Systems has 22,031 shares for 0.02% of their US portfolio. Jfs Wealth Limited Liability Com last reported 0.01% of its portfolio in the stock. Emerald Advisers Pa, a Pennsylvania-based fund reported 46,390 shares. Miller Howard Invests Inc New York has 1.01M shares for 0.72% of their US portfolio. Sg Americas Llc accumulated 28,104 shares or 0.01% of the stock. Raymond James owns 154,789 shares or 0.02% of their US portfolio.
More recent PacWest Bancorp (NASDAQ:PACW) news were published by: Nasdaq.com which released: “PacWest Bancorp Reaches Analyst Target Price” on November 11, 2016. Also Nasdaq.com published the news titled: “PacWest Bancorp (PACW) Passes Through 4% Yield Mark” on November 15, 2016. Nasdaq.com‘s news article titled: “Ex-Dividend Reminder: TCF Financial, Selective Insurance Group and PacWest Bancorp” with publication date: November 08, 2016 was also an interesting one.
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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