American National Registered Investment Advisor Inc. continued to hold its stake in shares of PacWest Bancorp (NASDAQ:PACW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,450 shares of the financial services provider’s stock at the end of the second quarter. American National Registered Investment Advisor Inc.’s holdings in PacWest Bancorp were worth $395,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Charter Trust Co. raised its stake in shares of PacWest Bancorp by 0.8% in the second quarter. Charter Trust Co. now owns 4,757 shares of the financial services provider’s stock valued at $222,000 after buying an additional 38 shares during the last quarter. Chesley Taft & Associates LLC raised its stake in shares of PacWest Bancorp by 0.6% in the first quarter. Chesley Taft & Associates LLC now owns 17,825 shares of the financial services provider’s stock valued at $949,000 after buying an additional 100 shares during the last quarter. Tudor Investment Corp ET AL raised its stake in shares of PacWest Bancorp by 0.5% in the first quarter. Tudor Investment Corp ET AL now owns 20,370 shares of the financial services provider’s stock valued at $1,085,000 after buying an additional 101 shares during the last quarter. World Asset Management Inc raised its stake in shares of PacWest Bancorp by 1.6% in the first quarter. World Asset Management Inc now owns 7,432 shares of the financial services provider’s stock valued at $396,000 after buying an additional 118 shares during the last quarter. Finally, Denver Investment Advisors LLC raised its stake in shares of PacWest Bancorp by 0.5% in the first quarter. Denver Investment Advisors LLC now owns 38,343 shares of the financial services provider’s stock valued at $2,042,000 after buying an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.
Shares of PacWest Bancorp (NASDAQ PACW) opened at 48.73 on Friday. The firm has a 50-day moving average of $47.23 and a 200 day moving average of $51.34. PacWest Bancorp has a 52 week low of $40.01 and a 52 week high of $57.53. The firm has a market cap of $5.77 billion, a PE ratio of 17.40 and a beta of 1.58.
PacWest Bancorp (NASDAQ:PACW) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $277.76 million during the quarter, compared to analyst estimates of $272.57 million. PacWest Bancorp had a net margin of 30.61% and a return on equity of 7.73%. During the same quarter last year, the business earned $0.68 earnings per share. Equities research analysts predict that PacWest Bancorp will post $2.92 EPS for the current fiscal year.
A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $55.00 price objective on shares of PacWest Bancorp in a research report on Thursday, May 18th. UBS AG raised shares of PacWest Bancorp from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, April 6th. BidaskClub downgraded shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Stephens raised shares of PacWest Bancorp from an “equal weight” rating to an “overweight” rating in a research report on Monday, April 24th. Finally, Piper Jaffray Companies decreased their price objective on shares of PacWest Bancorp from $63.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $55.60.
In other PacWest Bancorp news, Director Craig A. Carlson sold 1,081 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $47.16, for a total transaction of $50,979.96. Following the completion of the transaction, the director now owns 6,273 shares in the company, valued at $295,834.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is owned by company insiders.
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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