Massmutual Trust Co. FSB ADV purchased a new stake in PacWest Bancorp (NASDAQ:PACW) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,833 shares of the financial services provider’s stock, valued at approximately $437,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. SWS Partners purchased a new stake in shares of PacWest Bancorp during the fourth quarter valued at approximately $110,000. Captrust Financial Advisors purchased a new stake in shares of PacWest Bancorp during the fourth quarter valued at approximately $111,000. First Mercantile Trust Co. raised its stake in shares of PacWest Bancorp by 94.1% during the first quarter. First Mercantile Trust Co. now owns 2,651 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 1,285 shares during the period. Point72 Asia Hong Kong Ltd purchased a new stake in shares of PacWest Bancorp during the first quarter valued at approximately $139,000. Finally, Advisors Preferred LLC purchased a new stake in shares of PacWest Bancorp during the fourth quarter valued at approximately $215,000. Hedge funds and other institutional investors own 86.36% of the company’s stock.
PACW has been the topic of a number of analyst reports. BidaskClub upgraded shares of PacWest Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, May 18th. ValuEngine lowered shares of PacWest Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Zacks Investment Research lowered shares of PacWest Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, May 31st. Raymond James upgraded shares of PacWest Bancorp from a “market perform” rating to a “strong-buy” rating in a research note on Tuesday, April 10th. Finally, UBS Group upgraded shares of PacWest Bancorp from a “market perform” rating to a “strong-buy” rating in a research note on Tuesday, April 10th. Eight equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $54.73.
Shares of NASDAQ:PACW opened at $53.03 on Friday. The firm has a market capitalization of $6.74 billion, a P/E ratio of 18.16, a P/E/G ratio of 1.46 and a beta of 1.46. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.92 and a quick ratio of 0.92. PacWest Bancorp has a 12-month low of $43.08 and a 12-month high of $55.86.
PacWest Bancorp (NASDAQ:PACW) last released its quarterly earnings data on Tuesday, April 17th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. The firm had revenue of $295.06 million during the quarter, compared to the consensus estimate of $288.49 million. PacWest Bancorp had a net margin of 32.53% and a return on equity of 8.34%. During the same quarter in the previous year, the company posted $0.65 earnings per share. equities research analysts predict that PacWest Bancorp will post 3.69 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 31st. Shareholders of record on Monday, May 21st were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Friday, May 18th. This is an increase from PacWest Bancorp’s previous quarterly dividend of $0.50. PacWest Bancorp’s payout ratio is currently 82.19%.
In other PacWest Bancorp news, EVP Bryan M. Corsini sold 7,500 shares of PacWest Bancorp stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $55.48, for a total value of $416,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Pieczynski sold 60,000 shares of PacWest Bancorp stock in a transaction on Thursday, May 3rd. The stock was sold at an average price of $51.14, for a total transaction of $3,068,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,500 shares of company stock valued at $4,287,785. 1.01% of the stock is currently owned by corporate insiders.
PacWest Bancorp Profile
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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