Research analysts at Sterne Agee upped their price target on shares of PacWest Bancorp (NASDAQ: PACW) to $24.00 in a report issued on Thursday.
Separately, analysts at B. Riley downgraded shares of PacWest Bancorp from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, January 11st. Analysts at Keefe, Bruyette & Woods, Inc upgraded shares of PacWest Bancorp from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday, January 3rd. Also, analysts at Keefe, Bruyette & Woods upgraded shares of PacWest Bancorp to an “outperform” rating in a research note to investors on Tuesday, January 3rd.
PacWest Bancorp is a bank holding company. The Company’s principal business is to serve as the holding company for its banking subsidiary, Pacific Western Bank (the Bank). The Bank a full-service commercial bank offering a range of banking products and services, including accepting time and demand deposits; originating loans, including commercial, real estate construction, small business administration (SBA) guaranteed, consumer, and international loans, and providing other business-oriented products. It has 68 full-service community banking branches. Its operations are located in Southern California and the Bank focuses on conducting business with small to medium size businesses and the owners and employees of those businesses. On August 28, 2009, it acquired Affinity Bank (Affinity), including all loans, and assumed all of its liabilities, including the insured and uninsured deposits and excluding certain brokered deposits from the Federal Deposit Insurance Corporation (FDIC).
Shares of PacWest Bancorp opened at 21.03 on Thursday. PacWest Bancorp has a one year low of $13.00 and a one year high of $23.31. The stock’s 50-day moving average is $19.36 and its 200-day moving average is $17.64. The company has a market cap of $746.5 million and a P/E ratio of 27.38.