Investors Buy PacWest Bancorp (PACW) on Weakness

Traders purchased shares of PacWest Bancorp (NASDAQ:PACW) on weakness during trading hours on Tuesday. $32.12 million flowed into the stock on the tick-up and $18.02 million flowed out of the stock on the tick-down, for a money net flow of $14.10 million into the stock. Of all stocks tracked, PacWest Bancorp had the 8th highest net in-flow for the day. PacWest Bancorp traded down ($0.61) for the day and closed at $44.37

A number of equities research analysts have recently commented on PACW shares. Stephens restated a “buy” rating and set a $58.00 target price on shares of PacWest Bancorp in a research report on Friday, July 13th. Sandler O’Neill restated a “buy” rating and set a $59.00 target price on shares of PacWest Bancorp in a research report on Monday, June 25th. Zacks Investment Research upgraded PacWest Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, July 19th. Wells Fargo & Co set a $51.00 target price on PacWest Bancorp and gave the company a “hold” rating in a research report on Tuesday, October 2nd. Finally, ValuEngine upgraded PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $54.92.

The company has a debt-to-equity ratio of 0.34, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $5.83 billion, a PE ratio of 15.15, a PEG ratio of 1.28 and a beta of 1.41.

PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.02. PacWest Bancorp had a return on equity of 8.70% and a net margin of 33.41%. The company had revenue of $297.23 million for the quarter, compared to analysts’ expectations of $301.52 million. During the same period in the previous year, the firm posted $0.84 EPS. On average, research analysts expect that PacWest Bancorp will post 3.72 EPS for the current year.

In other news, Director Tanya M. Acker acquired 1,000 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were bought at an average cost of $50.26 per share, for a total transaction of $50,260.00. Following the acquisition, the director now owns 3,900 shares in the company, valued at approximately $196,014. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.01% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PACW. Raymond James & Associates boosted its holdings in PacWest Bancorp by 186.2% in the 2nd quarter. Raymond James & Associates now owns 1,167,557 shares of the financial services provider’s stock worth $57,701,000 after buying an additional 759,615 shares during the last quarter. Bain Capital Public Equity Management LLC acquired a new stake in PacWest Bancorp in the 2nd quarter worth about $8,279,000. Renaissance Technologies LLC purchased a new position in PacWest Bancorp in the 2nd quarter worth approximately $6,656,000. LSV Asset Management purchased a new position in PacWest Bancorp in the 2nd quarter worth approximately $6,118,000. Finally, LVM Capital Management Ltd. MI purchased a new position in PacWest Bancorp in the 2nd quarter worth approximately $6,118,000. Institutional investors own 87.42% of the company’s stock.

PacWest Bancorp Company Profile (NASDAQ:PACW)

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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