JMP Securities Initiates Coverage on PacWest Bancorp to Market Outperform

JMP Securities Initiates Coverage on PacWest Bancorp(NASDAQ:PACW). The shares have been rated Market Outperform. The rating by JMP Securities was issued on Sep 16, 2016.

In a different note, On Jul 18, 2016, DA Davidson said it Downgrades its rating on PacWest Bancorp. The shares have been rated ‘Neutral’ by the firm.

PacWest Bancorp (PACW) made into the market gainers list on Thursdays trading session with the shares advancing 0.56% or 0.24 points. Due to strong positive momentum, the stock ended at $42.95, which is also near the day’s high of $43.05. The stock began the session at $43.04 and the volume stood at 6,60,710 shares. The 52-week high of the shares is $47.9999 and the 52 week low is $29.05. The company has a current market capitalization of $5,172 M and it has 12,04,12,363 shares in outstanding.

PacWest Bancorp(PACW) last announced its earnings results on Jul 15, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $255.88M. Analysts had an estimated revenue of $264.92M. Earnings per share were $0.68. Analysts had estimated an EPS of $0.69.

Several Insider Transactions has been reported to the SEC. On Sep 15, 2016, Daniel B Platt (director) sold 2,550 shares at $42.18 per share price.Also, On Aug 30, 2016, John M Iii Eggemeyer (director) sold 537,260 shares at $42.31 per share price.On Jul 25, 2016, Kori Ogrosky (EVP, Gen. Counsel, Corp. Secty) sold 2,000 shares at $41.06 per share price, according to the Form-4 filing with the securities and exchange commission.

PacWest Bancorp is a bank holding company. The Company’s 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.

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