PacWest (PACW) Shares Move Higher Following B. Riley Upgrade

Shares of PacWest Bancorp (NASDAQ: PACW) are catching a bid Thursday afternoon following an earlier upgrade from B. Riley's Joe Gladue. The analyst now rates PacWest shares a Buy, up from Neutral previously. Gladue boosted his price target on the stock from $22 to $26.

The downgrade follows Q1 results from PacWest on Wednesday. The stock fell about 3 percent following the quarterly figures.

With PacWest shares up nearly 7 percent to $24.18 at last check, the B. Riley analyst's new target represents potential upside of about 7.6 percent.

For an analyst ratings summary and ratings history on PacWest Bancorp click here. For more ratings news on PacWest Bancorp click here.

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