Stephens analyst Tyler Stafford assigned a Buy rating to Pacwest Bancorp (PACW) today and set a price target of $52. The company’s shares closed yesterday at $39.94, close to its 52-week low of $37.65.
According to TipRanks.com, Stafford is a 4-star analyst with an average return of 7.2% and a 54.8% success rate. Stafford covers the Financial sector, focusing on stocks such as Capstar Financial Holdings Inc, Carolina Financial Corporation, and Pacific Premier Bancorp Inc.
Currently, the analyst consensus on Pacwest Bancorp is a Moderate Buy with an average price target of $53.63.
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Based on Pacwest Bancorp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $115 million. In comparison, last year the company had a net profit of $100 million.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PACW in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
PacWest Bancorp is a bank holding company that specializes in financial and banking solutions. Through the Pacific Western Bank, it offers commercial banking services, including real estate, construction, commercial loans, comprehensive deposit, and treasury management services to small and middle-market businesses.
