PacWest Reaches New 52-Week High (PACW)

NEW YORK ( TheStreet) -- PacWest Bancorp (Nasdaq: PACW) hit a new 52-week high Thursday as it is currently trading at $23.34, above its previous 52-week high of $23.31 with 133,357 shares traded as of 1:54 p.m. ET. Average volume has been 199,800 shares over the past 30 days.

PacWest has a market cap of $771.7 million and is part of the financial sector and banking industry. Shares are up 17.6% year to date as of the close of trading on Wednesday.

PacWest Bancorp operates as the bank holding company for Pacific Western Bank that provides commercial banking products and services to small to medium size businesses, the owners and employees of those businesses, and households primarily in Southern California. The company has a P/E ratio of 16.3, above the average banking industry P/E ratio of 15.9 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates PacWest as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, expanding profit margins, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full PacWest Ratings Report.

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