L & S Advisors Inc Continues to Hold Position in PacWest Bancorp (PACW)
L & S Advisors Inc maintained its stake in PacWest Bancorp (NASDAQ:PACW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,000 shares of the financial services provider’s stock at the end of the 2nd quarter. L & S Advisors Inc’s holdings in PacWest Bancorp were worth $233,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Ffcm LLC grew its stake in shares of PacWest Bancorp by 172.7% during the second quarter. Ffcm LLC now owns 2,394 shares of the financial services provider’s stock worth $114,000 after buying an additional 1,516 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of PacWest Bancorp by 12.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,132 shares of the financial services provider’s stock worth $193,000 after buying an additional 468 shares in the last quarter. Creative Planning increased its holdings in shares of PacWest Bancorp by 17.3% during the second quarter. Creative Planning now owns 4,157 shares of the financial services provider’s stock worth $194,000 after buying an additional 613 shares in the last quarter. Koch Industries Inc. acquired a new position in shares of PacWest Bancorp during the first quarter worth $231,000. Finally, Two Sigma Securities LLC acquired a new position in shares of PacWest Bancorp during the first quarter worth $237,000. Hedge funds and other institutional investors own 88.75% of the company’s stock.
Shares of PacWest Bancorp (NASDAQ PACW) traded down 1.56% on Tuesday, reaching $49.96. The company’s stock had a trading volume of 97,288 shares. The stock has a 50 day moving average of $46.24 and a 200-day moving average of $48.16. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 17.25 and a beta of 1.62. PacWest Bancorp has a 12 month low of $41.10 and a 12 month high of $57.53.
PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.06. The firm had revenue of $277.76 million for the quarter, compared to analyst estimates of $272.57 million. PacWest Bancorp had a return on equity of 7.73% and a net margin of 30.61%. During the same period last year, the company earned $0.68 EPS. On average, analysts anticipate that PacWest Bancorp will post $2.94 EPS for the current year.
A number of research analysts have recently commented on the company. Zacks Investment Research cut PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, June 8th. BidaskClub lowered PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Wedbush reaffirmed a “neutral” rating and issued a $49.00 target price on shares of PacWest Bancorp in a report on Tuesday, June 27th. ValuEngine raised PacWest Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Stephens reiterated a “buy” rating and issued a $56.00 target price on shares of PacWest Bancorp in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $54.73.
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About PacWest Bancorp
PacWest Bancorp is a bank holding company for Pacific Western Bank (the Bank). The Company is focused on relationship-based business banking to small, middle-market and venture-backed businesses. As of December 31, 2016, the Bank offered a range of loan and deposit products and services through 77 branches located throughout the state of California, one branch located in Durham, North Carolina, and several loan production offices located in cities across the country.
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