PacWest Stock Falls On Unusually High Volume (PACW)
NEW YORK (TheStreet) -- PacWest Bancorp (Nasdaq:PACW) is trading at unusually high volume Friday with 1.9 million shares changing hands. It is currently at 10.3 times its average daily volume and trading down 56 cents (-2.8%) at $19.95 as of four p.m. ET. PacWest has a market cap of $758.9 million and is part of the financial sector and banking industry. Shares are down 4% year to date as of the close of trading on Thursday. PacWest Bancorp operates as the bank holding company for Pacific Western Bank that provides banking products and services primarily in southern and western California. The company has a P/E ratio of 72.8, below the average banking industry P/E ratio of 85 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates PacWest as a hold. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, expanding profit margins and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and relatively poor performance when compared with the S&P 500 during the past year. You can view the full PacWest Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.
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