Press coverage about PacWest Bancorp (NASDAQ:PACW) has been trending somewhat positive this week, according to Accern. The research firm identifies negative and positive media coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. PacWest Bancorp earned a daily sentiment score of 0.23 on Accern’s scale. Accern also gave headlines about the financial services provider an impact score of 45.6491047536061 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
These are some of the news headlines that may have impacted Accern Sentiment’s scoring:
- Financial Analysis: PacWest Bancorp (PACW) and Its Rivals (americanbankingnews.com)
- PacWest Bancorp Reaches Analyst Target Price (nasdaq.com)
- B. Riley Analysts Lift Earnings Estimates for PacWest Bancorp (PACW) (americanbankingnews.com)
- What Does MACD Oscillator Analysis predict about Pacwest Bancorp (NASDAQ:PACW)? – The Oracle Examiner (oracleexaminer.com)
- PacWest Bancorp Forecasted to Earn Q1 2018 Earnings of $0.80 Per Share (PACW) (americanbankingnews.com)
PACW has been the subject of several analyst reports. Raymond James Financial downgraded shares of PacWest Bancorp from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, October 17th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $54.00 price target on shares of PacWest Bancorp in a research note on Thursday, October 19th. UBS Group downgraded shares of PacWest Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 20th. Finally, BMO Capital Markets dropped their price target on shares of PacWest Bancorp from $49.00 to $48.00 and set a “market perform” rating for the company in a research note on Thursday, October 19th. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $53.64.
PacWest Bancorp (NASDAQ PACW) traded up $0.37 on Monday, hitting $53.01. 662,698 shares of the stock traded hands, compared to its average volume of 840,256. PacWest Bancorp has a 52 week low of $43.08 and a 52 week high of $57.53. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $6,830.00, a PE ratio of 17.91, a PEG ratio of 1.59 and a beta of 1.59.
PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.09. PacWest Bancorp had a net margin of 30.80% and a return on equity of 7.87%. The company had revenue of $273.07 million during the quarter, compared to analysts’ expectations of $281.14 million. During the same period in the prior year, the company posted $0.77 earnings per share. equities research analysts anticipate that PacWest Bancorp will post 3 EPS for the current fiscal year.
PacWest Bancorp announced that its board has authorized a stock buyback program on Thursday, November 16th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, CFO Patrick J. Rusnak acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was bought at an average cost of $46.92 per share, for a total transaction of $93,840.00. Following the completion of the transaction, the chief financial officer now directly owns 77,852 shares in the company, valued at approximately $3,652,815.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.98% of the company’s stock.
About PacWest Bancorp
PacWest Bancorp is a bank holding company for Pacific Western Bank (the Bank). The Company is focused on relationship-based business banking to small, middle-market and venture-backed businesses. As of October 23, 2017, the Bank offered a range of loan and deposit products and services through 83 branches located throughout the state of California, one branch located in Durham, North Carolina, and several loan production offices located in cities across the country.
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