The stock of PacWest Bancorp (NASDAQ:PACW) hit a new 52-week high and has $72.36 target or 48.00% above today’s $48.89 share price. The 8 months bullish chart indicates low risk for the $6.15 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $72.36 price target is reached, the company will be worth $2.95B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 2.05% or $0.98 during the last trading session, hitting $48.89. About 1.08 million shares traded hands or 28.40% up from the average. PacWest Bancorp (NASDAQ:PACW) has risen 31.12% since April 11, 2016 and is uptrending. It has outperformed by 24.97% the S&P500.
PacWest Bancorp (NASDAQ:PACW) Ratings Coverage
Out of 8 analysts covering Pacwest Bancorp (NASDAQ:PACW), 4 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. Pacwest Bancorp has been the topic of 10 analyst reports since October 13, 2015 according to StockzIntelligence Inc. Wells Fargo initiated the stock with “Outperform” rating in Monday, December 21 report. The firm earned “Overweight” rating on Tuesday, October 13 by Piper Jaffray. The firm has “Market Perform” rating by Wells Fargo given on Tuesday, October 4. On Monday, October 19 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. The firm earned “Market Perform” rating on Thursday, January 14 by BMO Capital Markets. The firm has “Neutral” rating by DA Davidson given on Monday, July 18. The firm has “Mkt Outperform” rating by JMP Securities given on Friday, September 16. On Thursday, March 24 the stock rating was maintained by Wood with “Outperform”.
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.”
Insitutional Activity: The institutional sentiment decreased to 1.23 in Q2 2016. Its down 0.31, from 1.54 in 2016Q1. The ratio dropped, as 34 funds sold all PacWest Bancorp shares owned while 86 reduced positions. 31 funds bought stakes while 116 increased positions. They now own 108.97 million shares or 0.02% less from 108.99 million shares in 2016Q1.
Metropolitan Life Insurance Ny holds 0.03% of its portfolio in PacWest Bancorp (NASDAQ:PACW) for 107,643 shares. Hightower Ltd Liability Corp last reported 30,459 shares in the company. Bancorp Of Montreal Can holds 0% of its portfolio in PacWest Bancorp (NASDAQ:PACW) for 10,586 shares. Shelton Capital accumulated 0.03% or 9,275 shares. Guggenheim Limited Liability Corp reported 268,393 shares or 0.03% of all its holdings. Gsa Prns Llp has invested 0.02% of its portfolio in PacWest Bancorp (NASDAQ:PACW). Moreover, Advsr Asset Mngmt has 0.02% invested in PacWest Bancorp (NASDAQ:PACW) for 26,233 shares. Parametric Portfolio Assoc Lc, a Washington-based fund reported 407,097 shares. Hancock has 64,730 shares for 0.11% of their US portfolio. Victory Cap Mngmt holds 1.25M shares or 0.2% of its portfolio. Cardinal Cap Ct last reported 1.97 million shares in the company. Moreover, Peak6 Lp has 0% invested in PacWest Bancorp (NASDAQ:PACW) for 2,921 shares. The Switzerland-based Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% in PacWest Bancorp (NASDAQ:PACW). First Quadrant Ltd Partnership Ca holds 0% of its portfolio in PacWest Bancorp (NASDAQ:PACW) for 2,181 shares. Citigroup reported 425,764 shares or 0.02% of all its holdings.
More notable recent PacWest Bancorp (NASDAQ:PACW) news were published by: Nasdaq.com which released: “PacWest Bancorp Reaches Analyst Target Price” on November 11, 2016, also Nasdaq.com with their article: “Ex-Dividend Reminder: TCF Financial, Selective Insurance Group and PacWest Bancorp” published on November 08, 2016, Forbes.com published: “PacWest Bancorp Named Top Dividend Stock With Insider Buying and 4.98% Yield …” on April 25, 2016. More interesting news about PacWest Bancorp (NASDAQ:PACW) were released by: Reuters.com and their article: “BRIEF-Pacwest Bancorp says on Nov 2, board increased its size by one to 13…” published on November 04, 2016 as well as Reuters.com‘s news article titled: “BRIEF-PacWest Bancorp Q3 earnings per share $0.77” with publication date: October 18, 2016.
PACW Company Profile
PacWest Bancorp, incorporated on March 24, 2008, is a bank holding firm for Pacific Western Bank (the Bank). The Firm is focused on relationship business banking to small, middle-market and venture-backed businesses. The Bank offers a range of loan and deposit services and products through approximately 80 branches located throughout the state of California. The Firm provides commercial banking services, and deposit and treasury management services to small and middle-market businesses. It offers services and products under the brand names of Pacific Western, as well as its business groups, CapitalSource Inc. and Square 1 Bank. CapitalSource focuses on providing cash flow, asset-based, equipment and real estate loans and treasury management services to middle market businesses. Square 1 Bank focuses on providing a range of financial products to service entrepreneurial businesses and their venture capital and private equity investors. Square 1 Asset Management, Inc., a subsidiary of the Bank, provides investment advisory and asset management services.
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