PacWest Bancorp (PACW) PT Raised to $60.50 at FIG Partners Following 4Q Report
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Rating Summary:
8 Buy, 9 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 9 | Down: 10 | New: 43
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FIG Partners raised its price target on PacWest Bancorp (NASDAQ: PACW) to $60.50 (from $56.00) while maintaining a Market Outperform rating following the company's 4Q report.
Analyst Christopher Marinac commented, "PACW reported 4Q16 EPS at $0.71 which met Street consensus and missed FIG estimate by $0.01. Solid top-line revenues and Core NIM (excluding purchase acct. marks) expanded by 6 basis points. Loan growth was stronger on gross production with less paydowns, with 19% annualized net growth (see Page 2). But, the compa-ny also built loan loss reserves worth $0.05 per share as we share in our 4Q16 fundamental trends in this report."
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