Keefe, Bruyette & Woods Upgrades PacWest Bancorp (PACW) to Outperform; Well Positioned to Deploy Excess Capital

Keefe, Bruyette & Woods upgraded PacWest Bancorp (NASDAQ: PACW) from Market Perform to Outperform, price target raised to $22.00.

KBW analyst says, "We are upgrading PACW as we believe investors can get paid to wait (3.8% dividend yield) for organic loan growth to turn positive in 2Q12. PACW has a strong capital base to leverage & we believe it has the capacity to add $1-1.6B in assets. With strong core earnings power at ~2%, we believe PACW is a highly profitable business model and a well-run bank, which warrants our Outperform."

For an analyst ratings summary and ratings history on PacWest Bancorp click here. For more ratings news on PacWest Bancorp click here.

Shares of PacWest Bancorp closed at $19.25 yesterday.

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