Keefe, Bruyette & Woods Lowers PT on PACW

According to a recent report, Keefe, Bruyette & Woods has lowered the price target on PacWest BanCorp PACW from $24.00 to $23.00. Keefe, Bruyette & Woods also lowered the 2011/2012/2013 EPS from $1.25/$1.65/$1.95 to $1.20/$1.60/$1.85. In the report, Keefe, Bruyette & Woods said, "We met PACW on our recent investor trip & while fundamentals are still solid, we believe the catalyst for the stock is still pegged to loan growth." PacWest closed yesterday at $19.77.