PacWest Bancorp (NASDAQ:PACW) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. raised its position in PacWest Bancorp (NASDAQ:PACWGet Rating) by 4.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 44,402 shares of the financial services provider’s stock after acquiring an additional 2,051 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in PacWest Bancorp were worth $1,003,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PACW. Capital Wealth Alliance LLC acquired a new stake in shares of PacWest Bancorp in the second quarter valued at approximately $45,000. Ellevest Inc. increased its stake in shares of PacWest Bancorp by 18.1% in the second quarter. Ellevest Inc. now owns 6,666 shares of the financial services provider’s stock valued at $178,000 after purchasing an additional 1,024 shares during the period. Carolina Wealth Advisors LLC increased its stake in shares of PacWest Bancorp by 19.7% in the second quarter. Carolina Wealth Advisors LLC now owns 7,443 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 1,226 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in shares of PacWest Bancorp in the second quarter valued at approximately $210,000. Finally, Mount Yale Investment Advisors LLC boosted its holdings in shares of PacWest Bancorp by 14.8% in the second quarter. Mount Yale Investment Advisors LLC now owns 8,288 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 1,071 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insider Buying and Selling

In related news, CEO Matthew P. Wagner sold 17,725 shares of the firm’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $24.18, for a total value of $428,590.50. Following the completion of the transaction, the chief executive officer now owns 985,361 shares of the company’s stock, valued at approximately $23,826,028.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Matthew P. Wagner sold 17,725 shares of the firm’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $24.18, for a total value of $428,590.50. Following the completion of the transaction, the chief executive officer now owns 985,361 shares of the company’s stock, valued at approximately $23,826,028.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew P. Wagner sold 66,659 shares of the firm’s stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $26.24, for a total transaction of $1,749,132.16. Following the completion of the transaction, the chief executive officer now directly owns 1,003,086 shares of the company’s stock, valued at approximately $26,320,976.64. The disclosure for this sale can be found here. Company insiders own 1.25% of the company’s stock.

PacWest Bancorp Trading Up 5.6 %

Shares of NASDAQ:PACW opened at $24.69 on Friday. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 5.89 and a beta of 1.41. PacWest Bancorp has a 1-year low of $21.29 and a 1-year high of $51.81. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86. The company has a 50 day moving average price of $24.22 and a 200 day moving average price of $25.35.

PacWest Bancorp (NASDAQ:PACWGet Rating) last issued its earnings results on Wednesday, October 19th. The financial services provider reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). PacWest Bancorp had a return on equity of 14.07% and a net margin of 32.92%. The business had revenue of $373.80 million for the quarter, compared to the consensus estimate of $380.82 million. During the same quarter in the previous year, the business posted $1.17 earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. On average, research analysts anticipate that PacWest Bancorp will post 4.05 EPS for the current fiscal year.

PacWest Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Tuesday, November 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend was Monday, November 14th. PacWest Bancorp’s dividend payout ratio is 23.87%.

Analysts Set New Price Targets

Several research firms have recently issued reports on PACW. Piper Sandler decreased their price objective on shares of PacWest Bancorp from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Friday, September 30th. Stephens decreased their price objective on shares of PacWest Bancorp from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 27th. Wells Fargo & Company cut shares of PacWest Bancorp from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $32.00 to $26.00 in a report on Thursday, December 15th. DA Davidson decreased their price objective on shares of PacWest Bancorp to $25.00 in a report on Thursday, October 27th. Finally, StockNews.com cut shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, January 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.11.

About PacWest Bancorp

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PacWest Bancorp operates as the bank holding company for Pacific Western Bank that provides various 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, renovation, and construction of commercial real estate properties; small business administration loans; asset-based loans for working capital needs; venture capital loans to support the operations of entrepreneurial and venture-backed companies; and equipment-secured loans and leases.

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Institutional Ownership by Quarter for PacWest Bancorp (NASDAQ:PACW)

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