why PacWest Bancorp [PACW] is a Good Choice for Investors After New Price Target of $30.56

PacWest Bancorp [NASDAQ: PACW] traded at a low on 03/09/23, posting a -25.45 loss after which it closed the day’ session at $19.89. The company report on February 1, 2023 that Pacwest Bancorp Announces Quarterly Dividends.

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The Board of Directors also declared a quarterly cash dividend of $0.4845 per depositary share on its 7.75% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividend will be payable March 1, 2023 to stockholders of record as of February 15, 2023. The Series A depositary shares are traded on the Nasdaq Stock Exchange under the “PACWP” symbol.

The results of the trading session contributed to over 11391819 shares changing hands. Over the past one week, the price volatility of PacWest Bancorp stands at 7.38% while the volatility over the past one month is 4.05%.

The market cap for PACW stock reached $2.32 billion, with 117.81 million shares outstanding and 115.67 million shares in the current float. Compared to the average trading volume of 1.42M shares, PACW reached a trading volume of 11391819 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about PacWest Bancorp [PACW]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PACW shares is $30.56 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PACW stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for PacWest Bancorp shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on December 15, 2022. The new note on the price target was released on December 09, 2022, representing the official price target for PacWest Bancorp stock. Previously, the target price had yet another drop from $43 to $28, while DA Davidson kept a Neutral rating on PACW stock. On July 22, 2022, analysts decreased their price target for PACW shares from 47 to 35.

The Average True Range (ATR) for PacWest Bancorp is set at 1.27, with the Price to Sales ratio for PACW stock in the period of the last 12 months amounting to 1.49. The Price to Book ratio for the last quarter was 0.68, with the Price to Cash per share for the same quarter was set at 28.11. Price to Free Cash Flow for PACW in the course of the last twelve months was 4.12.

How has PACW stock performed recently?

PacWest Bancorp [PACW] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -27.12. With this latest performance, PACW shares dropped by -32.74% in over the last four-week period, additionally sinking by -23.44% over the last 6 months – not to mention a drop of -52.05% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PACW stock in for the last two-week period is set at 20.39, with the RSI for the last a single of trading hit 12.36, and the three-weeks RSI is set at 27.17 for PacWest Bancorp [PACW]. The present Moving Average for the last 50 days of trading for this stock 26.05, while it was recorded at 25.67 for the last single week of trading, and 26.24 for the last 200 days.

PacWest Bancorp [PACW]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and PacWest Bancorp [PACW] shares currently have an operating margin of +36.85. PacWest Bancorp’s Net Margin is presently recorded at +25.41.

Return on Equity for this stock inclined to 10.47, with Return on Assets sitting at 1.02.

Earnings analysis for PacWest Bancorp [PACW]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PACW. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PacWest Bancorp go to 10.00%.

Insider trade positions for PacWest Bancorp [PACW]

There are presently around $2,188 million, or 95.30% of PACW stock, in the hands of institutional investors. The top three institutional holders of PACW stocks are: VANGUARD GROUP INC with ownership of 13,591,315, which is approximately -3.097% of the company’s market cap and around 1.10% of the total institutional ownership; BLACKROCK INC., holding 12,107,010 shares of the stock with an approximate value of $240.81 million in PACW stocks shares; and FMR LLC, currently with $210.65 million in PACW stock with ownership of nearly 0.031% of the company’s market capitalization.

Positions in PacWest Bancorp stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 149 institutional holders increased their position in PacWest Bancorp [NASDAQ:PACW] by around 10,043,186 shares. Additionally, 154 investors decreased positions by around 10,305,498 shares, while 49 investors held positions by with 89,641,050 shares. The mentioned changes placed institutional holdings at 109,989,734 shares, according to the latest SEC report filing. PACW stock had 44 new institutional investments in for a total of 4,064,530 shares, while 40 institutional investors sold positions of 2,243,804 shares during the same period.


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