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Fly News Breaks for November 1, 2017
PACW
Nov 1, 2017 | 07:28 EDT
As previously reported, Raymond James downgraded PacWest (PACW) to Market Perform from Outperform. Analyst David Long believes consensus NIM expectations are overly bullish and reduced his estimates below consensus to reflect the company's loan mix shift and acquisition of CU Bancorp (CU). Long no longer expects near-term positive catalysts and believes Street estimates will be pressured until NIM expectations moderate.
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