In a report issued on July 9, Lana Chan from BMO Capital reiterated a Hold rating on Pacwest Bancorp (NASDAQ: PACW), with a price target of $53. The company’s shares closed yesterday at $50.48.
According to TipRanks.com, Chan is a 4-star analyst with an average return of 13.3% and a 70.0% success rate. Chan covers the Financial sector, focusing on stocks such as Westamerica Bancorporation, Huntington Bancshares Inc, and TCF Financial Corporation.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pacwest Bancorp with a $61 average price target.
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Based on Pacwest Bancorp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $117 million. In comparison, last year the company had a net profit of $92.57 million.
Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock.
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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.
