First Trust Advisors LP lifted its holdings in shares of PacWest Bancorp (NASDAQ:PACW – Get Rating) by 60.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 750,556 shares of the financial services provider’s stock after purchasing an additional 281,387 shares during the quarter. First Trust Advisors LP owned about 0.64% of PacWest Bancorp worth $16,963,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in PACW. Guardian Wealth Advisors LLC acquired a new stake in shares of PacWest Bancorp during the third quarter worth about $31,000. Capital Wealth Alliance LLC acquired a new stake in PacWest Bancorp in the second quarter valued at approximately $45,000. Wipfli Financial Advisors LLC acquired a new stake in PacWest Bancorp in the third quarter valued at approximately $51,000. Point72 Hong Kong Ltd acquired a new stake in PacWest Bancorp in the third quarter valued at approximately $97,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in PacWest Bancorp in the second quarter valued at approximately $210,000. Institutional investors and hedge funds own 91.97% of the company’s stock.
PacWest Bancorp Stock Down 25.4 %
PACW stock opened at $19.89 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.76. PacWest Bancorp has a twelve month low of $19.79 and a twelve month high of $46.84. The company’s 50 day moving average is $26.20 and its two-hundred day moving average is $25.23. The stock has a market cap of $2.35 billion, a P/E ratio of 5.88 and a beta of 1.46.
PacWest Bancorp Announces Dividend
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of PacWest Bancorp from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Monday, January 30th. Truist Financial raised their target price on shares of PacWest Bancorp from $26.00 to $29.00 and gave the company a “hold” rating in a report on Wednesday, February 1st. 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 issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $32.67.
Insider Transactions at PacWest Bancorp
In other PacWest Bancorp news, Director C William Hosler bought 3,750 shares of the stock in a transaction dated Friday, February 3rd. The shares were acquired at an average cost of $26.48 per share, for a total transaction of $99,300.00. Following the completion of the transaction, the director now owns 3,750 shares in the company, valued at approximately $99,300. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.25% of the company’s stock.
About PacWest Bancorp
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.
- Get a free copy of the StockNews.com research report on PacWest Bancorp (PACW)
- Fossil Group: Should You Bet On Consumer Discretionary In 2023?
- BJ’s Wholesale Club Stock Moves Higher After Strong Results
- Monthly Realty Income is About to Get Bigger
- 3 Large Cap Dividend Challengers for Millennial Investors
- Sea Ltd Is On The Verge Of A 100% Rally, Should You Buy?
Receive News & Ratings for PacWest Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PacWest Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.