Sheaff Brock Investment Advisors LLC Grows Holdings in PacWest Bancorp (NASDAQ:PACW)

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Sheaff Brock Investment Advisors LLC increased its position in shares of PacWest Bancorp (NASDAQ:PACW) by 32.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,233 shares of the financial services provider’s stock after purchasing an additional 2,000 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in PacWest Bancorp were worth $299,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Financial Partners Inc. boosted its stake in PacWest Bancorp by 25.8% in the third quarter. Pinnacle Financial Partners Inc. now owns 80,519 shares of the financial services provider’s stock valued at $2,926,000 after acquiring an additional 16,499 shares during the last quarter. Rhumbline Advisers boosted its stake in PacWest Bancorp by 1.7% in the third quarter. Rhumbline Advisers now owns 332,501 shares of the financial services provider’s stock valued at $12,083,000 after acquiring an additional 5,511 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in PacWest Bancorp in the third quarter valued at about $4,383,000. Ledyard National Bank boosted its stake in PacWest Bancorp by 0.4% in the third quarter. Ledyard National Bank now owns 100,216 shares of the financial services provider’s stock valued at $3,641,000 after acquiring an additional 379 shares during the last quarter. Finally, CWM LLC purchased a new position in PacWest Bancorp in the third quarter valued at about $150,000. Institutional investors and hedge funds own 88.48% of the company’s stock.

Shares of PACW stock traded down $0.22 during trading on Wednesday, reaching $37.77. 29,408 shares of the company’s stock traded hands, compared to its average volume of 629,774. The company has a market capitalization of $4.47 billion, a P/E ratio of 10.10, a PEG ratio of 1.00 and a beta of 1.50. The company has a current ratio of 0.96, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average is $36.64 and its 200 day moving average is $37.17. PacWest Bancorp has a 1 year low of $31.16 and a 1 year high of $42.37.

PacWest Bancorp (NASDAQ:PACW) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.92 EPS for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.01). The business had revenue of $285.67 million for the quarter, compared to analysts’ expectations of $290.49 million. PacWest Bancorp had a net margin of 33.80% and a return on equity of 9.61%. During the same quarter in the previous year, the company posted $0.94 earnings per share. As a group, sell-side analysts predict that PacWest Bancorp will post 3.77 earnings per share for the current fiscal year.

A number of research analysts have weighed in on the stock. Royal Bank of Canada assumed coverage on shares of PacWest Bancorp in a research note on Friday, August 23rd. They issued an “outperform” rating and a $40.00 target price on the stock. SunTrust Banks dropped their price target on shares of PacWest Bancorp from $40.00 to $39.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Zacks Investment Research cut shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. BidaskClub upgraded shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, TheStreet cut shares of PacWest Bancorp from a “b-” rating to a “c+” rating in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $41.67.

In related news, EVP Mark A. Christian sold 9,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $37.89, for a total transaction of $359,955.00. Following the sale, the executive vice president now directly owns 24,781 shares in the company, valued at approximately $938,952.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.18% of the company’s stock.

About PacWest Bancorp

PacWest Bancorp operates as the holding company for Pacific Western Bank, a state chartered 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, and construction of commercial real estate properties; small business administration loans; asset-based loans for working capital needs; venture capital loans to support the start-up operations of entrepreneurial companies; and equipment-secured loans and leases.

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

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