PacWest Bancorp (PACW) Shares Sold by Raymond James Financial Services Advisors Inc.

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Raymond James Financial Services Advisors Inc. reduced its stake in shares of PacWest Bancorp (NASDAQ:PACW) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,850 shares of the financial services provider’s stock after selling 8,000 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.06% of PacWest Bancorp worth $2,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its position in PacWest Bancorp by 21.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 17,534 shares of the financial services provider’s stock worth $583,000 after buying an additional 3,151 shares during the last quarter. Raymond James & Associates lifted its position in PacWest Bancorp by 11.9% in the fourth quarter. Raymond James & Associates now owns 1,589,452 shares of the financial services provider’s stock worth $52,897,000 after buying an additional 168,594 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in PacWest Bancorp in the fourth quarter worth $341,000. Mirae Asset Global Investments Co. Ltd. lifted its position in PacWest Bancorp by 166.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,691 shares of the financial services provider’s stock worth $489,000 after buying an additional 9,171 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its position in PacWest Bancorp by 15.0% in the fourth quarter. Eagle Asset Management Inc. now owns 43,879 shares of the financial services provider’s stock worth $1,460,000 after buying an additional 5,707 shares during the last quarter. 90.70% of the stock is owned by institutional investors and hedge funds.

NASDAQ:PACW opened at $39.50 on Thursday. PacWest Bancorp has a twelve month low of $31.16 and a twelve month high of $55.86. The firm has a market cap of $4.72 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 1.03 and a beta of 1.55. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.38.

PacWest Bancorp (NASDAQ:PACW) last released its earnings results on Thursday, January 17th. The financial services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.01. PacWest Bancorp had a return on equity of 9.64% and a net margin of 35.33%. The business had revenue of $295.29 million during the quarter, compared to the consensus estimate of $297.05 million. During the same period last year, the company earned $0.66 earnings per share. On average, sell-side analysts anticipate that PacWest Bancorp will post 3.78 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Wednesday, February 20th were issued a $0.60 dividend. The ex-dividend date was Tuesday, February 19th. This represents a $2.40 annualized dividend and a dividend yield of 6.08%. PacWest Bancorp’s payout ratio is currently 64.52%.

A number of analysts recently issued reports on PACW shares. Raymond James set a $48.00 price target on PacWest Bancorp and gave the stock a “buy” rating in a research report on Tuesday, February 26th. Zacks Investment Research downgraded PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, December 26th. BidaskClub upgraded PacWest Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 25th. TheStreet downgraded PacWest Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, November 19th. Finally, Keefe, Bruyette & Woods downgraded PacWest Bancorp from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $50.00 to $45.00 in a research report on Sunday, February 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.56.

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About PacWest Bancorp

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.

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Institutional Ownership by Quarter for PacWest Bancorp (NASDAQ:PACW)

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