Wells Fargo Maintains Equal-Weight Rating for PacWest Banc: Here's What You Need To Know

Wells Fargo has decided to maintain its Equal-Weight rating of PacWest Banc PACW and lower its price target from $13.50 to $9.00.

Shares of PacWest Banc are trading up 0.84% over the last 24 hours, at $7.45 per share.

A move to $9.00 would account for a 20.77% increase from the current share price.

About PacWest Banc

PacWest Bancorp is a bank holding company with one wholly-owned banking subsidiary, Pacific Western Bank. The bank has tens of full-service branches mostly located throughout California. The bank provides commercial banking services, including real estate, construction, and commercial loans, as well as comprehensive deposit and treasury management services, to small and midsize businesses. The Bank also provides venture banking products including a comprehensive suite of financial services focused on entrepreneurial and venture-backed businesses. The vast majority of the bank's net revenue comes from net interest income.

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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.