PacWest Bancorp (NASDAQ:PACW) had its price objective lowered by Raymond James from $48.00 to $45.00 in a report published on Wednesday, BenzingaRatingsTable reports. The firm currently has a strong-buy rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on PACW. BMO Capital Markets raised their price objective on PacWest Bancorp to $38.00 in a research report on Tuesday, January 22nd. TheStreet upgraded PacWest Bancorp from a c+ rating to a b- rating in a research report on Monday, February 25th. Stephens restated a buy rating and set a $43.00 price objective on shares of PacWest Bancorp in a research report on Thursday, March 21st. BidaskClub upgraded PacWest Bancorp from a sell rating to a hold rating in a research report on Wednesday, March 27th. Finally, Zacks Investment Research upgraded PacWest Bancorp from a sell rating to a hold rating in a research report on Tuesday, January 15th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Hold and an average target price of $46.11.

Shares of PACW stock opened at $39.21 on Wednesday. PacWest Bancorp has a 52-week low of $31.16 and a 52-week high of $55.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 1.04 and a beta of 1.53.

PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.01. PacWest Bancorp had a return on equity of 9.64% and a net margin of 35.33%. The business had revenue of $285.94 million during the quarter, compared to analyst estimates of $291.86 million. During the same quarter in the prior year, the business posted $0.93 EPS. Analysts expect that PacWest Bancorp will post 3.77 EPS for the current year.

Several large investors have recently made changes to their positions in PACW. BlackRock Inc. lifted its stake in PacWest Bancorp by 16.1% in the fourth quarter. BlackRock Inc. now owns 15,679,391 shares of the financial services provider’s stock worth $521,810,000 after purchasing an additional 2,169,414 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in PacWest Bancorp by 3,228.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,692,721 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 1,641,858 shares during the last quarter. Ceredex Value Advisors LLC bought a new stake in PacWest Bancorp in the fourth quarter worth about $48,912,000. FMR LLC lifted its stake in PacWest Bancorp by 117.6% in the fourth quarter. FMR LLC now owns 2,664,592 shares of the financial services provider’s stock worth $88,677,000 after purchasing an additional 1,439,867 shares during the last quarter. Finally, Norges Bank bought a new stake in PacWest Bancorp in the fourth quarter worth about $38,929,000. 93.12% of the stock is owned by hedge funds and other 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.

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Analyst Recommendations for PacWest Bancorp (NASDAQ:PACW)

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