Baldwin Brothers Inc. MA lifted its position in PacWest Bancorp (NASDAQ:PACW) by 55.6% in the third quarter, Holdings Channel reports. The firm owned 11,198 shares of the financial services provider’s stock after buying an additional 4,000 shares during the period. Baldwin Brothers Inc. MA’s holdings in PacWest Bancorp were worth $191,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Private Advisor Group LLC acquired a new position in shares of PacWest Bancorp during the second quarter worth $40,000. Cerebellum GP LLC purchased a new stake in shares of PacWest Bancorp during the 2nd quarter worth $135,000. Meeder Asset Management Inc. lifted its position in shares of PacWest Bancorp by 72.4% during the 1st quarter. Meeder Asset Management Inc. now owns 5,456 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 2,291 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of PacWest Bancorp by 28.6% during the 2nd quarter. Macquarie Group Ltd. now owns 5,529 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 1,229 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in PacWest Bancorp by 42.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 6,302 shares of the financial services provider’s stock worth $124,000 after acquiring an additional 1,869 shares in the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.
NASDAQ PACW traded down $0.04 during trading on Friday, reaching $18.57. The company’s stock had a trading volume of 1,088,254 shares, compared to its average volume of 1,336,768. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -1.85 and a beta of 1.60. PacWest Bancorp has a twelve month low of $13.84 and a twelve month high of $40.14. The business’s fifty day moving average price is $18.26 and its 200-day moving average price is $18.56.
PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings data on Monday, October 19th. The financial services provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.25). PacWest Bancorp had a negative net margin of 90.52% and a positive return on equity of 7.15%. During the same quarter last year, the business earned $1.07 earnings per share. As a group, sell-side analysts forecast that PacWest Bancorp will post 1.94 EPS for the current fiscal year.
Several brokerages recently commented on PACW. ValuEngine lowered shares of PacWest Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. BidaskClub upgraded shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $25.20.
About PacWest Bancorp
PacWest Bancorp operates as the holding company for Pacific Western 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, renovation, and construction of commercial real estate properties; small business administration loans; asset-based loans for working capital needs; venture capital loans to support the operations of entrepreneurial companies; and equipment-secured loans and leases.
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