PACW is a Bank Holding Company that has more than 70 branches in four states: California, Arizona, Nevada, and Washington. The company provides various banking products and services, such as loans, deposits, treasury management, and online banking Stock.
The stock price of PacWest Bancorp has been falling since the last year. The stock ended at $7.68 on August 24th, 2023, gaining 1.05% from the previous day.
PACW stock market capitalization is $910.408 Million and the total revenue is $1.638 Billion. Moreover, the stock’s basic EPS is -$10.61 and the price-to-sales ratio is 0.9.
PacWest Bancorp (PACW) experienced a decline in its earnings at a rate of 13.9% per year on average, according to Simply Wall St., a financial website. The average annual earnings growth of the bank industry is 13.9%. Therefore, PACW earnings are lower than the industry average.
As per Simply Wall St.’s recent insider transactions, the insiders have not been showing buying or selling in the stock in the last three months, therefore no shares have been sold or bought and Blackrock, Inc. is the top shareholder and owns 13.59% of the company.
The price action shows that PacWest Bancorp’s ( NASDAQ: PACW) stock price took rejection from last year and declined sharply as seller pressure was high.
At the time of publication, the PACW Stock’s current price is trading around $7.68 and facing trendline resistance.
Therefore, if PacWest Bancorp fails to maintain its current level, the PACW price could continue to drag downwards and hit the nearest support levels around $7.00, $6.50, and $6.00.
However, if the stock price sustains the current level and the PacWest Bancorp price increases, then it might reach the nearest resistance levels of $8.00, $8.50, and $9.00.
A move below or above these levels could indicate a new trend for the stock price. PacWest Bancorp could benefit from the economic recovery and the low-interest rate environment, as well as its diversified loan portfolio and strong capital position.
PACW Stock Price Technical Analysis in 1-D Timeframe
At the time of publishing, PacWest Bancorp. (NASDAQ: PACW), the technical indicators for PacWest Bancorp are mostly negative, showing a bearish trend and a sell signal. The daily chart shows that PacWest Bancorp is trading below its 50-day, 100-day, and 200-day moving averages, indicating a downward momentum. The relative strength index is below the 50 level, indicating a weak market sentiment. The MACD histogram is negative, showing a lack of momentum.
Summary
PacWest Bancorp (NASDAQ: PACW) indicates that the traders and investors of the stock price are bearish on the 1-D time frame. The price action of PACW stock shows a bearish outlook at the time of publishing. The most sought and reliable technical analysis tools such as EMA, RSI, and MACD for PACW stock price also support bearishness and indicate that a downtrend may continue in PacWest Bancorp stock price.
Technical Levels
- Support levels: The nearest support levels are $7.00, $6.50, and $6.00.
- Resistance levels: The nearest resistance levels are $8.00, $8.50, and $9.00.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/08/25/pacw-stock-price-forecast-will-it-be-a-wise-choice-for-investors/