How Wells Fargo Currently Rates PacWest Bancorp (NASDAQ:PACW)
New York: PacWest Bancorp (NASDAQ:PACW) coverage has been initiated with a “Outperform” rating by expert analysts at Wells Fargo. This was sent to investors and clients in a comprehensive report on Monday morning.
From a total of 9 analysts covering Pacwest Bancorp (NASDAQ:PACW) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $54 while the lowest target price is $45. The mean of all analyst targets is $49.78 with a 13.79% above today’s ($43.06) stock price. Pacwest Bancorp was the topic of 4 analyst reports since October 13, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on October 19 with “Sector Perform” rating.
Approximately 124,543 shares of stock traded hands. PacWest Bancorp (NASDAQ:PACW) has declined 7.74% since May 18, 2015 and is downtrending. It has underperformed by 1.93% the S&P500.
The overall sentiment of institutions has decreased to 1.53 in Q2 2015. Its down 0.13, from 1.66 in 2015Q2. The ratio dropped, as 33 institutions have sold all the shares of PacWest Bancorp that they owned while 75 funds have taken shares off the table. 40 funds have purchased shares for the first time while 125 added to their positions. These institutions now hold 90.62 million shares or 7.31% less than the 97.77 million shares they owned in 2015Q2.
The Fund Consector Capital Lp currently is holding shares equating to 4.92% of its total portfolio in PacWest Bancorp representing a total of 100,000 shares. Another fund,Keypoint Capital Management Llc, is holding a total of 70,000 shares equating to 4.51% of their holdings. Additionally, Cardinal Capital Management Llc Ct has a 1.45 million share stake in PacWest Bancorp which represents 3.87% of their total portfolio. The Fund, Neumeier Poma Investment Counsel Llc, based out of California, has also built up a stake in the stock, which represents a total of 2.79% of their total portfolio. Finally Channing Capital Management Llc, a fund which is based in the state of Illinois reported a total holdings of 1.18 million shares.
PacWest Bancorp is a bank holding company. The company has a market cap of $5.11 billion. The Company’s business is to serve as the holding bank for its subsidiary, Pacific Western Bank . It has 14.85 P/E ratio. It is a commercial bank that offers banking services and products, 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.
According to Zacks Investment Research, “PACWEST BANCORP, formerly First Community Bancorp, with one wholly-owned banking subsidiary, Pacific Western Bank. Through sixty full-service community banking branches, Pacific Western provides commercial banking services, including real estate, construction and commercial loans, to small and medium-sized businesses. Pacific Western’s branches are located in Los Angeles, Orange, Riverside, San Diego and San Bernardino Counties. Through its subsidiary BFI Business Finance and its divisions First Community Financial and Pacific Western SBA Lending, Pacific Western also provides working capital financing to growing companies located throughout the Southwest, primarily in the states of Arizona, California and Texas.”