Sterne Agee Reiterates Buy Rating, $45 PT on PacWest Bancorp Following CSE Merger Announcement

In a report published Friday, Sterne Agee analyst Todd L. Hagerman reiterated a Buy rating and $45.00 price target on PacWest Bancorp PACW. In the report, Sterne Agee noted, “Reiterating our BUY rating as the announced PACW/CSE merger continues apace. Given PACW's strong track record in executing/integrating acquisitions, in addition to the highly complementary pieces of the recently announced deal, our sense is this transformational acquisition may exceed conservative expectations.” PacWest Bancorp closed on Thursday at $33.92.