PacWest Bancorp (NASDAQ:PACW) Shares Sold by UBS Group AG

UBS Group AG lessened its stake in PacWest Bancorp (NASDAQ:PACW) by 24.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,896 shares of the financial services provider’s stock after selling 74,264 shares during the period. UBS Group AG owned 0.20% of PacWest Bancorp worth $9,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PACW. Rockefeller Capital Management L.P. raised its holdings in shares of PacWest Bancorp by 48.0% in the second quarter. Rockefeller Capital Management L.P. now owns 965 shares of the financial services provider’s stock valued at $37,000 after buying an additional 313 shares during the last quarter. Stephens Inc. AR raised its holdings in shares of PacWest Bancorp by 4.3% in the second quarter. Stephens Inc. AR now owns 9,030 shares of the financial services provider’s stock valued at $351,000 after buying an additional 375 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of PacWest Bancorp by 1.3% in the second quarter. State of Alaska Department of Revenue now owns 29,935 shares of the financial services provider’s stock valued at $1,161,000 after buying an additional 397 shares during the last quarter. AGF Investments LLC raised its holdings in shares of PacWest Bancorp by 81.8% in the second quarter. AGF Investments LLC now owns 938 shares of the financial services provider’s stock valued at $36,000 after buying an additional 422 shares during the last quarter. Finally, Lido Advisors LLC raised its holdings in shares of PacWest Bancorp by 4.9% in the second quarter. Lido Advisors LLC now owns 9,825 shares of the financial services provider’s stock valued at $381,000 after buying an additional 455 shares during the last quarter. Institutional investors own 88.41% of the company’s stock.

In other PacWest Bancorp news, EVP Mark A. Christian sold 9,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $37.89, for a total value of $359,955.00. Following the completion of the transaction, the executive vice president now directly owns 24,781 shares of the company’s stock, valued at $938,952.09. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.18% of the company’s stock.



NASDAQ PACW opened at $34.77 on Wednesday. The stock has a market capitalization of $4.24 billion, a P/E ratio of 9.35, a P/E/G ratio of 0.93 and a beta of 1.50. PacWest Bancorp has a 52-week low of $31.16 and a 52-week high of $48.63. The firm has a 50-day moving average price of $35.36 and a 200 day moving average price of $37.30. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.49.

PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.13. PacWest Bancorp had a net margin of 34.54% and a return on equity of 9.83%. The firm had revenue of $311.79 million during the quarter, compared to analysts’ expectations of $291.71 million. During the same period in the prior year, the company posted $0.92 earnings per share. On average, equities research analysts expect that PacWest Bancorp will post 3.86 earnings per share for the current fiscal year.

A number of brokerages have recently commented on PACW. Stephens reaffirmed a “buy” rating and issued a $43.00 target price on shares of PacWest Bancorp in a report on Tuesday, July 16th. SunTrust Banks cut their price target on shares of PacWest Bancorp from $40.00 to $39.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Raymond James cut shares of PacWest Bancorp from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 8th. ValuEngine raised shares of PacWest Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, September 12th. Finally, TheStreet cut shares of PacWest Bancorp from a “b-” rating to a “c+” rating in a report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $41.67.

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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