PacWest Bancorp (PACW) PT Raised to $60.50 at FIG Partners Following 4Q Report

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."

You May Also Be Interested In

• EasyJet Plc. (EZJ:LN) (ESYJY) PT Raised to GBP750 at BofA Securities
• Elevance (ELV) PT Raised to $604 at Jefferies
• Infosys Technologies (INFY) PT Lowered to $16 at TD Cowen