PacWest Bancorp (PACW) was Reiterated by FBR Capital to “Outperform” while Lowering the Price Target of the company shares to $ 48 from a previous price target of $50 . FBR Capital advised their investors in a research report released on Apr 15, 2016.
On the company’s financial health, PacWest Bancorp reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 14, 2016. Analyst had a consensus of $0.71.Analysts expectations of $ 263.08.During the same quarter in the previous year, the company posted $0.61 EPS.
PacWest Bancorp opened for trading at $36.57 and hit $37.23 on the upside on Monday, eventually ending the session at $36.54, with a gain of 0.91% or 0.33 points. The heightened volatility saw the trading volume jump to 7,54,068 shares. Company has a market cap of $4,392 M.
In a different news, on Mar 10, 2016, Matthew P Wagner (CEO) purchased 7,500 shares at $34.60 per share price. According to the SEC, on Feb 24, 2016, James Pieczynski (Executive Vice President) purchased 5,000 shares at $30.99 per share price. On Feb 19, 2016, Patrick J Rusnak (CFO) purchased 2,000 shares at $31.49 per share price, according to the Form-4 filing with the securities and exchange commission.
PacWest Bancorp is a bank holding company. The Companys business is to serve as the holding bank for its subsidiary Pacific Western Bank (Pacific Western or the Bank). It is a commercial bank that offers banking products and services including accepting demand money market and time deposits and originating loans and leases including an array of commercial real estate loans and commercial lending products. It operates in two segments: Community Banking which includes the operations of Pacific Western Bank excluding the CapitalSource Division and National Lending which includes the lending operations gained through the CapitalSource Inc. merger Pacific Western Equipment Finance and the CapitalSource Business Finance Group. The Bank offers products and services through its CapitalSource and Square 1 Bank divisions. The Square 1 Bank Division offers financial services focused on entrepreneurial businesses and their venture capital and private equity investors.