Steward Partners Investment Advisory LLC raised its holdings in PacWest Bancorp (NASDAQ:PACW) by 352.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,634 shares of the financial services provider’s stock after purchasing an additional 2,830 shares during the period. Steward Partners Investment Advisory LLC’s holdings in PacWest Bancorp were worth $132,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of PACW. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of PacWest Bancorp in the second quarter valued at $26,000. AGF Investments LLC boosted its position in shares of PacWest Bancorp by 81.8% during the 2nd quarter. AGF Investments LLC now owns 938 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 422 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of PacWest Bancorp by 48.0% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 965 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 313 shares in the last quarter. TD Capital Management LLC purchased a new stake in shares of PacWest Bancorp in the 2nd quarter valued at about $47,000. Finally, Advisory Services Network LLC lifted its holdings in shares of PacWest Bancorp by 363.2% in the 2nd quarter. Advisory Services Network LLC now owns 1,246 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 977 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.
PACW opened at $39.45 on Friday. The business has a 50 day moving average price of $36.85 and a two-hundred day moving average price of $37.11. The company has a quick ratio of 0.99, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. The company has a market cap of $4.65 billion, a PE ratio of 10.60, a P/E/G ratio of 1.04 and a beta of 1.50. PacWest Bancorp has a 52 week low of $31.16 and a 52 week high of $41.94.
Several analysts have recently weighed in on the company. Stephens reissued a “buy” rating and issued a $43.00 target price on shares of PacWest Bancorp in a report on Tuesday, July 16th. ValuEngine raised PacWest Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, September 12th. SunTrust Banks reduced their target price on PacWest Bancorp from $40.00 to $39.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Royal Bank of Canada assumed coverage on PacWest Bancorp in a report on Friday, August 23rd. They issued an “outperform” rating and a $40.00 target price for the company. Finally, BidaskClub raised PacWest Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $41.67.
In other PacWest Bancorp news, EVP Mark A. Christian sold 9,500 shares of the company’s 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 sale, the executive vice president now directly owns 24,781 shares of the company’s stock, valued at approximately $938,952.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.18% of the stock is owned by corporate insiders.
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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