PacWest Bancorp (PACW) : 7 analysts are covering PacWest Bancorp (PACW) and their average rating on the stock is 1.86, which is read as a Buy. 4 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 4, which recommends a Sell affirms that they expect a large upside in the stock from the current levels. A total of 3 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
PacWest Bancorp (PACW) : The consensus price target for PacWest Bancorp (PACW) is $46.21 for the short term with a standard deviation of $2.83. The most optimist securities analyst among the 7 who monitor the stock believes that the stock can reach $50, however, the pessimist price target for the company is $41.
For the current week, the company shares have a recommendation consensus of Buy. Also, Major Brokerage house, DA Davidson downgrades its ratings on PacWest Bancorp (NASDAQ:PACW). According to the latest information available, the shares are now rated Neutral by the analysts at the agency. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on July 18, 2016.
PacWest Bancorp (NASDAQ:PACW): The stock opened at $42.59 and touched an intraday high of $43.17 on Wednesday. During the day, the stock corrected to an intraday low of $42.51, however, the bulls stepped in and pushed the price higher to close in the green at $43.05 with a gain of 0.91% for the day. The total traded volume for the day was 1,017,204. The stock had closed at $42.66 in the previous trading session.
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.