PacWest Bancorp downgraded by Truist with a new price target

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

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

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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

Investors can contact the law firm at no cost to learn more about recovering their losses​ LOS ANGELES, Oct. 09, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises PacWest Bancorp ("PacWest" or the "Company") (NASDAQ:PACW) investors that a lawsuit filed on behalf of investors that purchased PacWest securities between February 28, 2022 and May 3, 2023, both dates inclusive (the "Class Period"). Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors'

Paul W. Taylor, Current PacWest Bancorp President, Appointed Chief Executive Officer Matthew P. Wagner to Transition to Executive Chairman Kevin L. Thompson Named EVP, Chief Financial Officer LOS ANGELES, Nov. 21, 2022 (GLOBE NEWSWIRE) -- PacWest Bancorp (NASDAQ:PACW) (the "Company") and Pacific Western Bank (the "Bank"), as part of their previously disclosed leadership transition plan, today announced the following changes to the Company's Board of Directors (the "Board") and executive team. Paul W. Taylor, President of the Company and the Bank, has been appointed Chief Executive Officer of the Company and the Bank, effective January 1, 2023. Mr. Taylor will have full management, fina

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

Merger proposal receives in excess of 98% approval of the shares voted from each of Banc of California and PacWest Bancorp stockholders Banc of California, Inc. ("Banc of California") (NYSE:BANC) and PacWest Bancorp ("PacWest") (NASDAQ:PACW) today jointly announced that, at their respective special meetings of stockholders held earlier today, they each received the necessary stockholder approval for the proposed combination of Banc of California and PacWest. The final results for the proposals voted on at the special meetings of each company's stockholders held today will be set forth in the companies' separate Current Reports on Form 8-K to be filed with the U.S. Securities and Exchange

SANTA ANA, Calif. and LOS ANGELES, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Banc of California, Inc. ("Banc of California") (NYSE:BANC) and PacWest Bancorp ("PacWest") (NASDAQ:PACW) today jointly announced that, at their respective special meetings of stockholders held earlier today, they each received the necessary stockholder approval for the proposed combination of Banc of California and PacWest. The final results for the proposals voted on at the special meetings of each company's stockholders held today will be set forth in the companies' separate Current Reports on Form 8-K to be filed with the U.S. Securities and Exchange Commissions (the "SEC"). The transaction is expected to close as pla

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