November 29, 2016 - By Ellis Scott
Company insider, Christopher Blake, EVP – Human Resources of Pacwest Bancorp unloaded a total of 10,000 shares of the company, based on a market price of $51.0 for each one share. For additional details of this sale please read the U.S. SEC’s report on hand for review here. Christopher Blake right now owns 54,500 shares or 0.05% of Pacwest Bancorp’s market cap.
Out of 8 analysts covering Pacwest Bancorp (NASDAQ:PACW), 4 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. $51 is the highest target while $41 is the lowest. The $47 average target is -8.56% below today’s ($51.4) stock price. Pacwest Bancorp has been the topic of 10 analyst reports since October 13, 2015 according to StockzIntelligence Inc. The company was initiated on Monday, December 21 by Wells Fargo. The stock of PacWest Bancorp (NASDAQ:PACW) has “Overweight” rating given on Tuesday, October 13 by Piper Jaffray. BMO Capital Markets downgraded the shares of PACW in a report on Thursday, January 14 to “Market Perform” rating. The firm has “Sector Perform” rating by RBC Capital Markets given on Monday, October 19. The firm has “Market Perform” rating by Wells Fargo given on Tuesday, October 4. On Thursday, March 24 the stock rating was maintained by Wood with “Outperform”. The firm earned “Mkt Outperform” rating on Friday, September 16 by JMP Securities. On Monday, July 18 the stock rating was downgraded by DA Davidson to “Neutral”.
Insitutional Activity: The institutional sentiment increased to 1.27 in 2016 Q2. Its up 0.04, from 1.23 in 2016Q1. The ratio improved, as 34 funds sold all PacWest Bancorp shares owned while 86 reduced positions. 31 funds bought stakes while 116 increased positions. They now own 108.97 million shares or 0.02% less from 108.99 million shares in 2016Q1.
Advantus Cap, a Minnesota-based fund reported 13,862 shares. Moreover, Retirement System Of Alabama has 0.03% invested in PacWest Bancorp (NASDAQ:PACW) for 147,651 shares. Hollencrest Secs Lc has invested 0.23% of its portfolio in PacWest Bancorp (NASDAQ:PACW). Rockland Company accumulated 23,030 shares or 0.15% of the stock. Raymond James And Assocs reported 154,789 shares or 0.02% of all its holdings. Systematic Fincl Lp holds 46,330 shares or 0.03% of its portfolio. Carroll Financial Assocs last reported 0.02% of its portfolio in the stock. Stanley owns 18,774 shares or 0.29% of their US portfolio. Jpmorgan Chase, a New York-based fund reported 1.80M shares. Dupont Capital Mgmt has 196,167 shares for 0.17% of their US portfolio. Morgan Stanley holds 230,788 shares or 0% of its portfolio. Glenmede Trust Na has 0% invested in the company for 9,739 shares. The Iowa-based Cambridge Investment Research Advsrs has invested 0% in PacWest Bancorp (NASDAQ:PACW). The Arizona-based Arizona State Retirement Systems has invested 0.02% in PacWest Bancorp (NASDAQ:PACW). Invest Counselors Of Maryland Ltd Liability Company has invested 0.01% of its portfolio in PacWest Bancorp (NASDAQ:PACW).
Insider Transactions: Since July 22, 2016, the stock had 0 insider buys, and 5 insider sales for $42.58 million net activity. Christian Mark A also sold $291,270 worth of PacWest Bancorp (NASDAQ:PACW) on Thursday, October 20. On Wednesday, September 14 the insider PLATT DANIEL B sold $107,567. EGGEMEYER JOHN M III had sold 610,000 shares worth $25.67M on Monday, August 22. The insider Ogrosky Kori sold 2,000 shares worth $82,131.
About 623,479 shares traded hands. PacWest Bancorp (NASDAQ:PACW) has risen 26.53% since April 26, 2016 and is uptrending. It has outperformed by 21.27% the S&P500.
PacWest Bancorp is a bank holding company for Pacific Western Bank . The company has a market cap of $6.06 billion. The Firm is focused on relationship business banking to small, middle-market and venture-backed businesses. It has a 18.41 P/E ratio. The Bank offers a range of loan and deposit services and products through approximately 80 branches located throughout the state of California.
According to Zacks Investment Research, “PACWEST BANCORP, formerly First Community Bancorp, with one wholly-owned banking subsidiary, Pacific Western Bank. Through sixty full-service community banking branches, Pacific Western provides commercial banking services, including real estate, construction and commercial loans, to small and medium-sized businesses. Pacific Western’s branches are located in Los Angeles, Orange, Riverside, San Diego and San Bernardino Counties. Through its subsidiary BFI Business Finance and its divisions First Community Financial and Pacific Western SBA Lending, Pacific Western also provides working capital financing to growing companies located throughout the Southwest, primarily in the states of Arizona, California and Texas.”
Analysts await PacWest Bancorp (NASDAQ:PACW) to report earnings on January, 19. They expect $0.72 earnings per share, up 2.86% or $0.02 from last year’s $0.7 per share. PACW’s profit will be $84.89M for 17.85 P/E if the $0.72 EPS becomes a reality. After $0.77 actual earnings per share reported by PacWest Bancorp for the previous quarter, Wall Street now forecasts -6.49% negative EPS growth.
More important recent PacWest Bancorp (NASDAQ:PACW) news were published by: Nasdaq.com which released: “PacWest Bancorp Reaches Analyst Target Price” on November 11, 2016, also Nasdaq.com published article titled: “PacWest Bancorp (PACW) Passes Through 4% Yield Mark”, Nasdaq.com published: “Ex-Dividend Reminder: TCF Financial, Selective Insurance Group and PacWest Bancorp” on November 08, 2016. More interesting news about PacWest Bancorp (NASDAQ:PACW) was released by: Nasdaq.com and their article: “PacWest Bancorp (PACW) Ex-Dividend Date Scheduled for November 10, 2016” with publication date: November 09, 2016.
PacWest Bancorp, incorporated on March 24, 2008, is a bank holding firm for Pacific Western Bank (the Bank). The Firm is focused on relationship business banking to small, middle-market and venture-backed businesses. The Bank offers a range of loan and deposit services and products through approximately 80 branches located throughout the state of California. The Firm provides commercial banking services, and deposit and treasury management services to small and middle-market businesses. It offers services and products under the brand names of Pacific Western, as well as its business groups, CapitalSource Inc. and Square 1 Bank. CapitalSource focuses on providing cash flow, asset-based, equipment and real estate loans and treasury management services to middle market businesses. Square 1 Bank focuses on providing a range of financial products to service entrepreneurial businesses and their venture capital and private equity investors. Square 1 Asset Management, Inc., a subsidiary of the Bank, provides investment advisory and asset management services.
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By Ellis Scott