On March 13, 2023, DA Davidson upgraded their outlook for PacWest Bancorp (NASDAQ:PACW) from Neutral to Buy.
Analyst Price Forecast Suggests 152.36% Upside
As of March 13, 2023, the average one-year price target for PacWest Bancorp is $31.17. The forecasts range from a low of $27.27 to a high of $34.65. The average price target represents an increase of 152.36% from its latest reported closing price of $12.35.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for PacWest Bancorp is $1,566MM, an increase of 16.77%. The projected annual non-GAAP EPS is $3.95.
PacWest Bancorp Declares $0.25 Dividend
On February 1, 2023 the company declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Shareholders of record as of February 15, 2023 received the payment on February 28, 2023. Previously, the company paid $0.25 per share.
At the current share price of $12.35 / share, the stock's dividend yield is 8.10%. Looking back five years and taking a sample every week, the average dividend yield has been 4.73%, the lowest has been 2.00%, and the highest has been 16.97%. The standard deviation of yields is 2.23 (n=236).
The current dividend yield is 1.51 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.28. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.58%.
What are Large Shareholders Doing?
Cardinal Capital Management holds 4,187K shares representing 3.55% ownership of the company. In it's prior filing, the firm reported owning 4,344K shares, representing a decrease of 3.74%. The firm decreased its portfolio allocation in PACW by 8.17% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 3,638K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 3,436K shares, representing an increase of 5.56%. The firm decreased its portfolio allocation in PACW by 6.14% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,559K shares representing 3.02% ownership of the company. In it's prior filing, the firm reported owning 3,493K shares, representing an increase of 1.85%. The firm decreased its portfolio allocation in PACW by 4.46% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 3,035K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 2,990K shares, representing an increase of 1.47%. The firm decreased its portfolio allocation in PACW by 4.58% over the last quarter.
Balyasny Asset Management holds 2,802K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
What is the Fund Sentiment?
There are 717 funds or institutions reporting positions in PacWest Bancorp. This is a decrease of 18 owner(s) or 2.45% in the last quarter. Average portfolio weight of all funds dedicated to PACW is 0.18%, a decrease of 18.47%. Total shares owned by institutions decreased in the last three months by 2.57% to 124,800K shares. The put/call ratio of PACW is 0.28, indicating a bullish outlook.
Pacwest Bancorp Background Information
(This description is provided by the company.)
PacWest Bancorp ('PacWest') is a bank holding company with over $29 billion in assets headquartered in Los Angeles, California, with executive offices in Denver, Colorado, with one wholly-owned banking subsidiary, Pacific Western Bank (the 'Bank'). The Bank has 70 full-service branches located in California, one branch located in Durham, North Carolina, and one branch located in Denver, Colorado. Its Community Banking group provides lending and comprehensive deposit and treasury management services to small and medium-sized businesses conducted primarily through its California-based branch offices and Denver, Colorado branch office. It offers additional products and services through its National Lending and Venture Banking groups. National Lending provides asset-based, equipment, and real estate loans and treasury management services to established middle market businesses on a national basis. Venture Banking offers a comprehensive suite of financial services focused on entrepreneurial or venture-backed businesses and their venture capital and private equity investors, with offices located in key innovation hubs across the United States.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.