PacWest Bancorp (PACW) is Initiated by Wells Fargo to Outperform

PacWest Bancorp (PACW) is Initiated by Wells Fargo to Outperform , according to the research report released to the investors. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

Shares of PacWest Bancorp (NASDAQ:PACW) ended Thursday session in red amid volatile trading. The shares closed down 0.98 points or 2.17% at $44.12 with 621,095 shares getting traded. Post opening the session at $45.31, the shares hit an intraday low of $44.1 and an intraday high of $45.3105 and the price vacillated in this range throughout the day. The company has a market cap of $5,303 million and the number of outstanding shares has been calculated to be 120,201,464 shares. The 52-week high of PacWest Bancorp (NASDAQ:PACW) is $48.855 and the 52-week low is $40.

During the last several months other analysts have commented on the company rating. Piper Jaffray initiates coverage on PacWest Bancorp (NASDAQ:PACW). The shares have now been rated Overweight by the stock experts at the ratings house. Piper Jaffray announces the current price target of $51 per share on PacWest Bancorp. The rating by the firm was issued on October 13, 2015.

Research firm Zacks has rated PacWest Bancorp (NASDAQ:PACW) and has ranked it at 3, indicating that for the short term the shares are a hold. 7 Wall Street analysts have given the company an average rating of 1.43. The shares has received a hold rating based on the suggestion from 1 analysts in latest recommendations. Strong buy was given by 5 Wall Street Analysts. The company had a buy rating from 1 analysts.

PacWest Bancorp (NASDAQ:PACW) stock has received a short term price target of $ 51 from 7 Analyst. The share price can be expected to fluctuate from the mean short term target, can be seen from the standard deviation reading of $2. The higher estimate of target price is $54 , while the lower price target estimate is $48

PacWest Bancorp has lost 2.26% in the last five trading days and dropped 2.43% in the last 4 weeks. PacWest Bancorp is up 5.75% in the last 3-month period. Year-to-Date the stock performance stands at 1.36%.”

PacWest Bancorp is a bank holding company. The Company’s principal business is to serve as the holding company for its wholly-owned banking subsidiary, Pacific Western Bank (the Bank). The Bank is a full-service commercial bank offering a range of banking products and services, including accepting demand, money market, and time deposits; originating loans, including commercial, real estate construction, Small Business Administration (SBA)-guaranteed and consumer loans; originating equipment finance leases; and providing other business-oriented products. In April 2014, the Company merged with CapitalSource Inc.