Cerebellum GP LLC Purchases Shares of 2,676 PacWest Bancorp (NASDAQ:PACW)

Cerebellum GP LLC purchased a new stake in PacWest Bancorp (NASDAQ:PACW) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,676 shares of the financial services provider’s stock, valued at approximately $135,000.

A number of other institutional investors also recently made changes to their positions in PACW. Rockefeller Capital Management L.P. boosted 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 acquiring an additional 313 shares during the period. Stephens Inc. AR boosted 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 acquiring an additional 375 shares during the period. State of Alaska Department of Revenue boosted 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 acquiring an additional 397 shares during the period. AGF Investments LLC boosted 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 acquiring an additional 422 shares during the period. Finally, Lido Advisors LLC boosted 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 acquiring an additional 455 shares during the period. Institutional investors own 88.51% of the company’s stock.

Shares of NASDAQ PACW opened at $35.79 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a fifty day moving average price of $35.81 and a 200 day moving average price of $37.28. PacWest Bancorp has a 1-year low of $31.16 and a 1-year high of $44.78. The company has a market cap of $4.28 billion, a PE ratio of 9.62, a P/E/G ratio of 0.94 and a beta of 1.50.

PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.13. PacWest Bancorp had a return on equity of 9.83% and a net margin of 34.54%. The firm had revenue of $311.79 million during the quarter, compared to the consensus estimate of $291.71 million. During the same period last year, the company earned $0.92 earnings per share. Analysts anticipate that PacWest Bancorp will post 3.85 earnings per share for the current fiscal year.

In related news, EVP Mark A. Christian sold 9,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $37.89, for a total transaction of $359,955.00. Following the completion of the sale, 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 through the SEC website. 1.18% of the stock is owned by company insiders.

Several equities research analysts have recently weighed in on the company. SunTrust Banks decreased their price objective on PacWest Bancorp from $40.00 to $39.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. ValuEngine raised PacWest Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, September 12th. Stephens reissued a “buy” rating and issued a $43.00 price objective on shares of PacWest Bancorp in a report on Tuesday, July 16th. TheStreet downgraded PacWest Bancorp from a “b-” rating to a “c+” rating in a report on Tuesday, August 27th. Finally, BidaskClub downgraded PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price 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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