Mercer Global Advisors Inc. ADV Grows Stock Position in PacWest Bancorp (NASDAQ:PACW)

Mercer Global Advisors Inc. ADV raised its stake in shares of PacWest Bancorp (NASDAQ:PACW – Get Rating) by 24.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 22,778 shares of the financial services provider’s stock after buying an additional 4,479 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in PacWest Bancorp were worth $523,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Guardian Wealth Advisors LLC acquired a new stake in shares of PacWest Bancorp during the 3rd quarter valued at about $31,000. Eagle Bay Advisors LLC grew its position in shares of PacWest Bancorp by 36.3% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,668 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 444 shares during the period. Creative Capital Management Investments LLC acquired a new stake in shares of PacWest Bancorp during the 4th quarter valued at about $54,000. Point72 Hong Kong Ltd acquired a new stake in shares of PacWest Bancorp during the 3rd quarter valued at about $97,000. Finally, Signaturefd LLC grew its position in shares of PacWest Bancorp by 639.5% during the 4th quarter. Signaturefd LLC now owns 5,221 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 4,515 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PACW. TheStreet cut PacWest Bancorp from a “c” rating to a “d+” rating in a research report on Tuesday, April 25th. Wedbush reiterated a “neutral” rating and issued a $27.00 price objective on shares of PacWest Bancorp in a report on Monday, March 13th. Wells Fargo & Company lowered their price objective on PacWest Bancorp from $30.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 5th. DA Davidson cut PacWest Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, May 4th. Finally, Truist Financial lowered their price objective on PacWest Bancorp from $29.00 to $13.00 and set a “hold” rating on the stock in a report on Thursday, March 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.13.

PacWest Bancorp Trading Down 1.9 %

Shares of PacWest Bancorp stock opened at $5.73 on Monday. The stock has a market cap of $676.37 million, a P/E ratio of -0.73 and a beta of 1.36. The stock’s 50 day simple moving average is $8.94 and its 200-day simple moving average is $19.56. PacWest Bancorp has a 1-year low of $2.48 and a 1-year high of $32.68. The company has a debt-to-equity ratio of 5.61, a current ratio of 1.21 and a quick ratio of 1.12.

PacWest Bancorp (NASDAQ:PACW – Get Rating) last released its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. The firm had revenue of $315.69 million for the quarter, compared to analyst estimates of $311.72 million. PacWest Bancorp had a negative net margin of 48.43% and a positive return on equity of 14.46%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 EPS. Analysts predict that PacWest Bancorp will post 1.53 EPS for the current fiscal year.

PacWest Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Monday, May 15th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Friday, May 12th. PacWest Bancorp’s payout ratio is presently -0.51%.

Insider Activity

In other news, EVP William J. Black purchased 13,000 shares of PacWest Bancorp stock in a transaction dated Thursday, March 9th. The shares were purchased at an average price of $20.57 per share, with a total value of $267,410.00. Following the transaction, the executive vice president now owns 13,000 shares in the company, valued at $267,410. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, Director C William Hosler bought 2,000 shares of the business’s stock in a transaction on Thursday, March 9th. The shares were bought at an average price of $20.66 per share, with a total value of $41,320.00. Following the completion of the transaction, the director now directly owns 56,720 shares in the company, valued at $1,171,835.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William J. Black bought 13,000 shares of the business’s stock in a transaction on Thursday, March 9th. The stock was purchased at an average cost of $20.57 per share, for a total transaction of $267,410.00. Following the transaction, the executive vice president now owns 13,000 shares of the company’s stock, valued at $267,410. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 51,833 shares of company stock valued at $1,089,746. 1.25% of the stock is currently owned by company insiders.

PacWest Bancorp Company Profile

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PacWest Bancorp is a bank holding company, which specializes in financial and banking solutions. It offers commercial banking services including real estate, construction, commercial loans, comprehensive deposit, and treasury management services to small and middle-market businesses through the Pacific Western Bank.