PacWest Bancorp (NASDAQ:PACW) close to 52-week high, short interest ramping up

PacWest Bancorp (NASDAQ:PACW) (TREND ANALYSIS) shares were traded with thin volume. The stock closed last trading session at $45.14, down by -0.7%, with a volume of 726,333 shares against an average volume for the last 3 months of 766,497.

Stock Performance: Click here for a free comprehensive Trend Analysis Report

PacWest Bancorp (NASDAQ:PACW) is currently trading 6.02% below its 52-week-high, 19.96% above its 52-week-low. The 1-year range for the stock is $37.63 – $48.03. PacWest Bancorp (PACW) has a price to earnings ratio of 21.28 versus Financial sector average of 15.55. PACW stock price has underperformed the Nasdaq by 5.5%. The Financial Services company is currently valued at $4.6 billion and its share price closed the last trading session at $45.14. The stock has a 50-day moving average of $45.89 and a 200-day moving average of $45.6.

PacWest Bancorp (PACW) current short interest stands at 6.96 million shares. It has increased by 5% from the same period of last month. Around 7% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.84 million shares, the number of days required to cover the short positions stand at 8.3 days.

PACW reported last quarter earnings on April 22. The Financial Services company announced earnings per share of $0.61 against a consensus Street estimate of $0.69, missing estimate by $0.08. This corresponds to an increase of $0.18 compared to the same quarter of the previous fiscal year.

Is this a Buying Opportunity? Click here for a free Trend Analysis Report

There are currently eight analysts that cover PACW stock. Of those eight, six have a Buy rating, two have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $50.38.

A recent analyst activity consisted of BMO Capital who initiated their coverage on the stock with Outperform rating on May 26. BMO Capital fixed their price target at $51. This corresponds to a 12.98% upside from the last closing price. On the date of report, the stock closed at $45.14.

Keefe Bruyette & Woods reiterated their Outperform stance on March 4, and increased their price target on PACW stock from $51 to $54. This corresponds to a 19.63% upside from the last closing price. On the date of report, the stock closed at $44.22.

Company profile

PacWest Bancorp is a bank holding company. The Company, through its banking subsidiary, offers a wide range of commercial banking services.

PacWest Bancorp (NASDAQ:PACW) close to 52-week high, short interest ramping up was last modified: May 27th, 2015 by Pat Mayfield