Smith Graham & Co. Investment Advisors LP Increases Holdings in PacWest Bancorp (NASDAQ:PACW)

Smith Graham & Co. Investment Advisors LP lifted its position in shares of PacWest Bancorp (NASDAQ:PACW) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,572 shares of the financial services provider’s stock after acquiring an additional 750 shares during the quarter. Smith Graham & Co. Investment Advisors LP owned 0.11% of PacWest Bancorp worth $4,854,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in shares of PacWest Bancorp by 4.6% during the 2nd quarter. Wells Fargo & Company MN now owns 4,753,685 shares of the financial services provider’s stock worth $184,585,000 after acquiring an additional 208,600 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of PacWest Bancorp by 2.7% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 2,796,095 shares of the financial services provider’s stock worth $108,572,000 after acquiring an additional 73,529 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of PacWest Bancorp by 2.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,362,218 shares of the financial services provider’s stock worth $52,895,000 after acquiring an additional 36,274 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of PacWest Bancorp by 22.1% during the 2nd quarter. Prudential Financial Inc. now owns 1,070,649 shares of the financial services provider’s stock worth $41,574,000 after acquiring an additional 193,905 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC boosted its stake in shares of PacWest Bancorp by 7.5% during the 2nd quarter. Neumeier Poma Investment Counsel LLC now owns 1,010,920 shares of the financial services provider’s stock worth $39,254,000 after acquiring an additional 70,330 shares in the last quarter. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Shares of PacWest Bancorp stock traded up $0.42 during trading on Friday, hitting $36.61. 702,030 shares of the company were exchanged, compared to its average volume of 756,268. The company has a quick ratio of 0.99, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. PacWest Bancorp has a fifty-two week low of $31.16 and a fifty-two week high of $43.66. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 9.42, a P/E/G ratio of 0.95 and a beta of 1.50. The firm has a 50 day moving average price of $35.93 and a 200 day moving average price of $37.27.

PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.01). PacWest Bancorp had a return on equity of 9.61% and a net margin of 33.80%. The company had revenue of $285.67 million for the quarter, compared to analyst estimates of $290.49 million. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Analysts predict that PacWest Bancorp will post 3.77 earnings per share for the current year.

In related news, EVP Mark A. Christian sold 9,500 shares of PacWest Bancorp stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 24,781 shares in the company, valued at approximately $938,952.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.18% of the company’s stock.

Several equities research analysts have recently commented on the company. SunTrust Banks decreased their price target on PacWest Bancorp from $40.00 to $39.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Royal Bank of Canada assumed coverage on PacWest Bancorp in a research note on Friday, August 23rd. They set an “outperform” rating and a $40.00 price target on the stock. BidaskClub lowered PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Zacks Investment Research lowered PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. Finally, TheStreet downgraded PacWest Bancorp from a “b-” rating to a “c+” rating in a research report on Tuesday, August 27th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. PacWest Bancorp currently 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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