PacWest Bancorp [NASDAQ: PACW] slipped around -2.6 points on Monday, while shares priced at $9.75 at the close of the session, down -21.05%. The company report on March 10, 2023 that PacWest Bancorp Issues Updated Financial Figures; Reiterates Capital and Liquidity Strategy and Financial Position in Light of Industry Developments.
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PacWest Bancorp (Nasdaq: PACW), a bank holding company with $41 billion in assets, in light of recent industry events, updates the following financial (unaudited) information and reiterates its capital and liquidity strategy:.
The Company’s wholly-owned subsidiary, Pacific Western Bank (the “Bank”), is a diversified relationship-based commercial bank focused on providing business banking and treasury management services to small, middle-market, and venture-backed businesses. The Bank has been, and continues to be, focused on strengthening our core relationship-based commercial bank, which we expect to result in stable core deposits, increased capital ratios, and an improved efficiency ratio, and will allow us to maintain our credit quality at favorable levels.
PacWest Bancorp stock is now -57.52% down from its year-to-date (YTD) trading value. PACW Stock saw the intraday high of $10.8086 and lowest of $5.00 per share. The company’s 52-week high price is 46.84, which means current price is +95.00% above from all time high which was touched on 02/03/23.
Compared to the average trading volume of 2.19M shares, PACW reached a trading volume of 69969977 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.
DA Davidson have made an estimate for PacWest Bancorp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 13, 2023. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $32 to $26. The new note on the price target was released on December 15, 2022, representing the official price target for PacWest Bancorp stock. Previously, the target price had yet another raise to $26, while Truist analysts kept a Hold rating on PACW stock. On October 06, 2022, analysts decreased their price target for PACW shares from 43 to 28.
The Average True Range (ATR) for PacWest Bancorp is set at 2.13, with the Price to Sales ratio for PACW stock in the period of the last 12 months amounting to 1.19. The Price to Book ratio for the last quarter was 0.33, with the Price to Cash per share for the same quarter was set at 17.23. Price to Free Cash Flow for PACW in the course of the last twelve months was 3.30.
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 -64.42. With this latest performance, PACW shares dropped by -65.43% in over the last four-week period, additionally sinking by -63.80% over the last 6 months – not to mention a drop of -77.77% 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 10.74, with the RSI for the last a single of trading hit 5.68, and the three-weeks RSI is set at 15.93 for PacWest Bancorp [PACW]. The present Moving Average for the last 50 days of trading for this stock 25.60, while it was recorded at 19.08 for the last single week of trading, and 26.05 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 $1,072 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 $118.04 million in PACW stocks shares; and FMR LLC, currently with $103.26 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.