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Fly News Breaks for October 18, 2018
PACW
Oct 18, 2018 | 09:13 EDT
SunTrust analyst Michael Young lowered his price target on PacWest Bancorp to $48 and kept his Hold rating, saying that while its Q3 earnings topped consensus, its net interest margins were "materially lower" and operating expenses were higher than expected. The analyst also lowers his FY19 EPS view to $3.73 from $4.01, noting that the tailwinds of balance sheet reduction and higher levels of capital returns should decelerate.
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