Pacwest Bancorp Receives a Hold from BMO Capital

By Austin Angelo

BMO Capital analyst Lana Chan reiterated a Hold rating on Pacwest Bancorp (NASDAQ: PACW) yesterday and set a price target of $55. The company’s shares closed yesterday at $47.72.

According to TipRanks.com, Chan is a 5-star analyst with an average return of 14.7% and a 77.2% success rate. Chan covers the Financial sector, focusing on stocks such as Westamerica Bancorporation, Huntington Bancshares Inc, and Cathay General Bancorp.

Pacwest Bancorp has an analyst consensus of Strong Buy, with a price target consensus of $55.25.

Based on Pacwest Bancorp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $283 million and quarterly net profit of $77.67 million. In comparison, last year the company earned revenue of $294 million and had a net profit of $89.39 million.

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PacWest Bancorp engages in the provision of banking holding services through its subsidiary, 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. The company was founded on October 22, 1999 and is headquartered in Beverly Hills, CA.^