State of Alaska Department of Revenue Has $1.16 Million Stock Position in PacWest Bancorp (NASDAQ:PACW)

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State of Alaska Department of Revenue lifted its holdings in shares of PacWest Bancorp (NASDAQ:PACW) by 1.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,935 shares of the financial services provider’s stock after buying an additional 397 shares during the period. State of Alaska Department of Revenue’s holdings in PacWest Bancorp were worth $1,161,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in PacWest Bancorp by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,326,556 shares of the financial services provider’s stock worth $110,706,000 after purchasing an additional 68,782 shares during the period. Two Sigma Advisers LP raised its position in PacWest Bancorp by 281.9% in the fourth quarter. Two Sigma Advisers LP now owns 70,100 shares of the financial services provider’s stock worth $2,333,000 after acquiring an additional 51,743 shares in the last quarter. Jane Street Group LLC raised its position in PacWest Bancorp by 14.9% in the fourth quarter. Jane Street Group LLC now owns 8,099 shares of the financial services provider’s stock worth $270,000 after acquiring an additional 1,050 shares in the last quarter. Thrivent Financial for Lutherans raised its position in PacWest Bancorp by 1.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 144,132 shares of the financial services provider’s stock worth $4,797,000 after acquiring an additional 1,367 shares in the last quarter. Finally, Legal & General Group Plc raised its position in PacWest Bancorp by 3.9% in the fourth quarter. Legal & General Group Plc now owns 166,376 shares of the financial services provider’s stock worth $5,537,000 after acquiring an additional 6,320 shares in the last quarter. 89.50% of the stock is owned by institutional investors.

Several analysts have issued reports on the company. Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Wells Fargo & Co reaffirmed a “buy” rating on shares of Morgan Stanley in a research note on Wednesday, April 17th. Raymond James cut First Midwest Bancorp to a “hold” rating in a research note on Monday, July 8th. ValuEngine raised Vale from a “sell” rating to a “hold” rating in a research note on Tuesday, July 16th. Finally, BidaskClub cut Westport Fuel Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $43.00.

Shares of NASDAQ PACW traded up $0.63 during trading hours on Friday, hitting $38.97. The stock had a trading volume of 39,006 shares, compared to its average volume of 811,572. The firm has a market capitalization of $4.57 billion, a P/E ratio of 10.47, a P/E/G ratio of 1.01 and a beta of 1.45. The company’s 50-day moving average price is $38.13. PacWest Bancorp has a 52 week low of $31.16 and a 52 week high of $52.15. The company has a quick ratio of 0.96, a current ratio of 0.99 and a debt-to-equity ratio of 0.49.

PacWest Bancorp (NASDAQ:PACW) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.13. The firm had revenue of $311.79 million during the quarter, compared to analysts’ expectations of $291.71 million. PacWest Bancorp had a return on equity of 9.83% and a net margin of 34.54%. During the same quarter in the prior year, the business earned $0.92 earnings per share. Equities research analysts anticipate that PacWest Bancorp will post 3.86 earnings per share for the current fiscal year.

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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