PacWest Bancorp (PACW) Stock Faces Higher Risks Forward After Forming Bearish Multiple Bottom Chart Pattern

February 14, 2018 - By Michael Collier

Investors sentiment decreased to 1.31 in Q3 2017. Its down 0.18, from 1.49 in 2017Q2. It fall, as 24 investors sold PacWest Bancorp shares while 96 reduced holdings. 44 funds opened positions while 113 raised stakes. 104.75 million shares or 1.70% less from 106.56 million shares in 2017Q2 were reported.
Virtu Fin Ltd Llc accumulated 5,313 shares. State Board Of Administration Of Florida Retirement, Florida-based fund reported 130,518 shares. Eagle Asset Mngmt holds 0.01% of its portfolio in PacWest Bancorp (NASDAQ:PACW) for 36,928 shares. Us Bancshares De has invested 0.01% in PacWest Bancorp (NASDAQ:PACW). Barclays Public Ltd Limited Liability Company owns 84,353 shares or 0% of their US portfolio. Kennedy Cap reported 139,880 shares. California Pub Employees Retirement System invested in 0.02% or 247,663 shares. Art Ltd holds 0.04% or 15,200 shares in its portfolio. Pinebridge Invs Limited Partnership invested in 0.08% or 64,237 shares. Loomis Sayles Ltd Partnership has 367,234 shares. 166,680 were reported by Castine Management Ltd Llc. Teachers Retirement System Of The State Of Kentucky holds 0.02% or 25,468 shares in its portfolio. Invesco Limited, a Georgia-based fund reported 313,947 shares. Commonwealth Equity Svcs reported 0% stake. Rothschild Asset Management Inc has 570,309 shares.

The stock of PacWest Bancorp (PACW) shows a multiple bottoms pattern with $50.73 target or 3.00 % below today’s $52.30 share price. The 9 months chart pattern indicates high risk for the $6.66 billion company. It was reported on Feb, 14 by If the $50.73 price target is reached, the company will be worth $199.92 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.29% or $0.15 during the last trading session, reaching $52.3. About 366,417 shares traded. PacWest Bancorp (NASDAQ:PACW) has risen 18.91% since February 14, 2017 and is uptrending. It has outperformed by 2.21% the S&P500.

PacWest Bancorp (NASDAQ:PACW) Ratings Coverage

Among 14 analysts covering Pacwest Bancorp (NASDAQ:PACW), 7 have Buy rating, 0 Sell and 7 Hold. Therefore 50% are positive. Pacwest Bancorp has $60.5 highest and $41 lowest target. $54.04’s average target is 3.33% above currents $52.3 stock price. Pacwest Bancorp had 42 analyst reports since October 13, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Thursday, December 21 by Keefe Bruyette & Woods. FBR Capital maintained the shares of PACW in report on Monday, December 11 with “Hold” rating. The firm earned “Outperform” rating on Wednesday, December 7 by Raymond James. Stephens maintained the stock with “Buy” rating in Friday, January 19 report. The stock has “Neutral” rating by DA Davidson on Monday, July 18. The firm earned “Hold” rating on Monday, January 8 by SunTrust. Raymond James downgraded the stock to “Market Perform” rating in Wednesday, November 1 report. The stock of PacWest Bancorp (NASDAQ:PACW) has “Buy” rating given on Monday, August 14 by Keefe Bruyette & Woods. The rating was maintained by SunTrust on Tuesday, November 28 with “Hold”. As per Thursday, September 7, the company rating was upgraded by DA Davidson.

More recent PacWest Bancorp (NASDAQ:PACW) news were published by: which released: “PacWest Shares Have Recovered But Upside Is Limited” on January 30, 2018. Also published the news titled: “PacWest Bancorp Named Top Dividend Stock With Insider Buying and 3.88% Yield …” on February 12, 2018.‘s news article titled: “Form 4 PACWEST BANCORP For: Feb 09 Filed by: RUSNAK PATRICK J” with publication date: February 12, 2018 was also an interesting one.

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