Flinton Capital Management LLC Purchases 3,152 Shares of PacWest Bancorp (PACW)

Flinton Capital Management LLC raised its position in PacWest Bancorp (NASDAQ:PACW) by 90.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,640 shares of the financial services provider’s stock after buying an additional 3,152 shares during the quarter. Flinton Capital Management LLC’s holdings in PacWest Bancorp were worth $310,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PACW. BlackRock Inc. increased its stake in PacWest Bancorp by 8,223.2% in the 1st quarter. BlackRock Inc. now owns 13,143,190 shares of the financial services provider’s stock valued at $700,008,000 after buying an additional 12,985,280 shares during the period. Principal Financial Group Inc. increased its stake in PacWest Bancorp by 112.6% in the 2nd quarter. Principal Financial Group Inc. now owns 3,379,025 shares of the financial services provider’s stock valued at $157,801,000 after buying an additional 1,789,571 shares during the period. Vanguard Group Inc. increased its stake in PacWest Bancorp by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 9,896,031 shares of the financial services provider’s stock valued at $527,062,000 after buying an additional 583,193 shares during the period. Prudential Financial Inc. increased its stake in PacWest Bancorp by 233.1% in the 2nd quarter. Prudential Financial Inc. now owns 605,314 shares of the financial services provider’s stock valued at $28,268,000 after buying an additional 423,590 shares during the period. Finally, Wells Fargo & Company MN increased its stake in PacWest Bancorp by 10.9% in the 2nd quarter. Wells Fargo & Company MN now owns 4,054,991 shares of the financial services provider’s stock valued at $189,368,000 after buying an additional 396,934 shares during the period. 88.64% of the stock is currently owned by institutional investors.

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, beating analysts’ consensus estimates of $0.71 by $0.06. The business had revenue of $277.76 million for the quarter, compared to analysts’ expectations of $272.57 million. PacWest Bancorp had a net margin of 30.61% and a return on equity of 7.73%. During the same period in the previous year, the business earned $0.68 earnings per share.

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Several equities analysts have issued reports on the stock. SunTrust Banks, Inc. reissued a “hold” rating and issued a $49.00 price objective on shares of PacWest Bancorp in a research note on Thursday. BidaskClub cut shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Zacks Investment Research cut shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Friday. Wedbush reaffirmed a “neutral” rating and set a $49.00 price target on shares of PacWest Bancorp in a research note on Tuesday, June 27th. Finally, FBR & Co set a $55.00 price target on shares of PacWest Bancorp and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and three have given a strong buy rating to the company’s stock. PacWest Bancorp currently has an average rating of “Buy” and an average price target of $54.50.

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.

Institutional Ownership by Quarter for PacWest Bancorp (NASDAQ:PACW)

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