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) : Currently there are 7 street experts covering PacWest Bancorp (PACW) stock. The most bullish and bearish price target for the stock is $50 and $41 respectively for the short term. The average price target of all the analysts comes to $46.21. The estimated standard deviation from the target is $2.83.
Also, Brokerage firm DA Davidson downgrades its rating on PacWest Bancorp (NASDAQ:PACW). The shares have been rated Neutral. 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): After opening at $41.87, the stock dipped to an intraday low of $41.7 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $42.77 and the buying power remained strong till the end. The stock closed at $42.75 for the day, a gain of 2.15% for the day session. The total traded volume was 780,747. The stocks close on the previous trading day was $41.85.
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.