Laurion Capital Management LP bought a new position in shares of PacWest Bancorp (NASDAQ:PACW) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 4,742 shares of the financial services provider’s stock, valued at approximately $226,000.
A number of other large investors have also recently added to or reduced their stakes in PACW. Raymond James & Associates lifted its holdings in PacWest Bancorp by 186.2% during the 2nd quarter. Raymond James & Associates now owns 1,167,557 shares of the financial services provider’s stock worth $57,701,000 after buying an additional 759,615 shares during the last quarter. Seizert Capital Partners LLC acquired a new stake in shares of PacWest Bancorp during the 3rd quarter worth approximately $32,787,000. WBI Investments Inc. acquired a new stake in shares of PacWest Bancorp during the 3rd quarter worth approximately $18,576,000. Janus Henderson Group PLC raised its position in shares of PacWest Bancorp by 10.6% during the 3rd quarter. Janus Henderson Group PLC now owns 3,677,017 shares of the financial services provider’s stock worth $175,210,000 after purchasing an additional 353,342 shares during the period. Finally, Panagora Asset Management Inc. raised its position in shares of PacWest Bancorp by 15,219.2% during the 3rd quarter. Panagora Asset Management Inc. now owns 351,270 shares of the financial services provider’s stock worth $16,738,000 after purchasing an additional 348,977 shares during the period. 88.46% of the stock is currently owned by institutional investors.
In other PacWest Bancorp news, insider James Pieczynski bought 10,000 shares of the stock in a transaction that occurred on Wednesday, November 28th. The shares were purchased at an average cost of $39.72 per share, for a total transaction of $397,200.00. Following the transaction, the insider now directly owns 47,497 shares in the company, valued at $1,886,580.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew P. Wagner bought 20,925 shares of the stock in a transaction that occurred on Monday, October 29th. The stock was acquired at an average price of $39.01 per share, for a total transaction of $816,284.25. Following the completion of the transaction, the chief executive officer now owns 530,552 shares in the company, valued at $20,696,833.52. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 40,925 shares of company stock worth $1,625,784. 1.01% of the stock is owned by insiders.
Shares of PacWest Bancorp stock opened at $33.00 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $4.02 billion, a PE ratio of 11.30, a P/E/G ratio of 0.89 and a beta of 1.42. PacWest Bancorp has a twelve month low of $32.92 and a twelve month high of $55.86.
PacWest Bancorp (NASDAQ:PACW) last posted its earnings results on Tuesday, October 16th. The financial services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.92 by $0.02. PacWest Bancorp had a return on equity of 8.95% and a net margin of 33.60%. The firm had revenue of $297.23 million for the quarter, compared to analysts’ expectations of $301.52 million. During the same period last year, the firm earned $0.84 EPS. As a group, research analysts expect that PacWest Bancorp will post 3.7 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Tuesday, November 20th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 7.27%. The ex-dividend date was Monday, November 19th. PacWest Bancorp’s dividend payout ratio is currently 82.19%.
A number of analysts have recently weighed in on the company. BidaskClub cut PacWest Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 15th. Stephens reiterated a “buy” rating and set a $58.00 price target on shares of PacWest Bancorp in a research report on Wednesday, September 12th. ValuEngine upgraded PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 3rd. Wells Fargo & Co set a $51.00 price target on PacWest Bancorp and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. Finally, BMO Capital Markets dropped their price target on PacWest Bancorp from $52.00 to $50.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $54.89.
PacWest Bancorp Company Profile
PacWest Bancorp operates as the holding company for Pacific Western Bank, a state chartered bank that provides commercial banking products and services. The company accepts demand, money market, and time deposits. It also provides real estate loans to professional developers and real estate investors for the acquisition, refinancing, and construction of commercial real estate properties; small business administration loans; asset-based loans for working capital needs; venture capital loans to support the start-up operations of entrepreneurial companies; and equipment-secured loans and leases.
See Also: SEC Filing
Want to see what other hedge funds are holding PACW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PacWest Bancorp (NASDAQ:PACW).
Receive News & Ratings for PacWest Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PacWest Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.