Truist downgraded PacWest Bancorp from Buy to Hold and set a new price target of $26.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 6/8/2023 | $8.75 | Hold | Odeon |
| 5/4/2023 | $19.00 → $3.00 | Buy → Neutral | DA Davidson |
| 3/13/2023 | $31.00 → $29.00 | Neutral → Buy | DA Davidson |
| 12/15/2022 | $32.00 → $26.00 | Overweight → Equal Weight | Wells Fargo |
| 12/9/2022 | $26.00 | Buy → Hold | Truist |
| 10/6/2022 | $43.00 → $28.00 | Buy → Neutral | DA Davidson |
| 7/22/2022 | $47.00 → $35.00 | Outperform → Mkt Perform | Keefe Bruyette |
| 7/7/2022 | Strong Buy → Mkt Perform | Raymond James |
Odeon initiated coverage of PacWest Bancorp with a rating of Hold and set a new price target of $8.75
DA Davidson downgraded PacWest Bancorp from Buy to Neutral and set a new price target of $3.00 from $19.00 previously
DA Davidson upgraded PacWest Bancorp from Neutral to Buy and set a new price target of $29.00 from $31.00 previously
KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3, and also assigns a preferred stock rating of BB for Banc of California, Inc. (NYSE:BANC). Additionally, KBRA affirms the deposit and senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term deposit and debt ratings of K2 for Pacific Western Bank, which will be renamed and operate as Banc of California, going forward. The Outlook for all long-term ratings is Stable. In addition, KBRA withdraws the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, the preferred stock rating of BB, and the short-term debt
Combined bank emerges as the third-largest bank headquartered in California and one of the nation's premier relationship-focused business banks Banc of California, Inc. ("Banc of California") (NYSE:BANC) today announced the completion of its transformational merger with PacWest Bancorp ("PacWest") (NASDAQ:PACW), pursuant to which PacWest has merged into Banc of California, and as of December 1, 2023, Banc of California, N.A. will have merged into Pacific Western Bank (the "combined bank"). The combined bank will operate under the Banc of California name and brand. Concurrent with the completion of the merger, Banc of California also completed its $400 million equity raise from affiliates
NEW YORK, Nov. 27, 2023 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 effective prior to the open of trading on Thursday, November 30: Carlyle Group Inc. (NASD: CG) will replace ICU Medical Inc. (NASD: ICUI) in the S&P MidCap 400. ICU Medical will replace PacWest Bancorp (NASD: PACW) in the S&P SmallCap 600. Banc of California Inc. (NYSE:BANC) is acquiring PacWest Bancorp in a deal expected to be completed soon, pending final closing conditions. Post-merger, Banc of California will remain in the S&P SmallCap 600. ICU Medical is more representative of the small-cap market space.WP Carey Inc. (NYSE: WPC) will replace Worthingt