PacWest Bancorp (NASDAQ:PACW) EVP Christopher D. Blake sold 10,000 shares of PacWest Bancorp stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $51.00, for a total transaction of $510,000.00. Following the transaction, the executive vice president now directly owns 53,997 shares in the company, valued at $2,753,847. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of PacWest Bancorp (NASDAQ:PACW) opened at 51.30 on Wednesday. PacWest Bancorp has a 52 week low of $29.05 and a 52 week high of $52.15. The company has a 50 day moving average of $45.41 and a 200-day moving average of $42.22. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 18.41 and a beta of 1.46.

PacWest Bancorp (NASDAQ:PACW) last issued its earnings results on Tuesday, October 18th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. PacWest Bancorp had a return on equity of 7.80% and a net margin of 30.41%. During the same period in the prior year, the business posted $0.63 EPS. On average, equities research analysts expect that PacWest Bancorp will post $2.90 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for PacWest Bancorp (NASDAQ:PACW)

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Tuesday, November 15th will be issued a $0.50 dividend. The ex-dividend date is Thursday, November 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.90%. PacWest Bancorp’s dividend payout ratio is 71.68%.

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PACW has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, August 25th. JMP Securities initiated coverage on shares of PacWest Bancorp in a research note on Friday, September 16th. They set an “outperform” rating and a $48.00 price objective on the stock. Finally, Wells Fargo & Co. lowered shares of PacWest Bancorp from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 4th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $45.00.

Several institutional investors have recently modified their holdings of PACW. Mycio Wealth Partners LLC boosted its stake in shares of PacWest Bancorp by 50.1% in the second quarter. Mycio Wealth Partners LLC now owns 3,595 shares of the financial services provider’s stock valued at $143,000 after buying an additional 1,200 shares during the last quarter. Channing Capital Management LLC boosted its stake in shares of PacWest Bancorp by 3.8% in the second quarter. Channing Capital Management LLC now owns 1,742,423 shares of the financial services provider’s stock valued at $69,314,000 after buying an additional 64,051 shares during the last quarter. Gradient Investments LLC boosted its stake in shares of PacWest Bancorp by 5.6% in the third quarter. Gradient Investments LLC now owns 117,817 shares of the financial services provider’s stock valued at $5,056,000 after buying an additional 6,259 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of PacWest Bancorp by 164.2% in the second quarter. BNP Paribas Arbitrage SA now owns 66,787 shares of the financial services provider’s stock valued at $2,657,000 after buying an additional 41,512 shares during the last quarter. Finally, Private Asset Management Inc. boosted its stake in shares of PacWest Bancorp by 2.9% in the third quarter. Private Asset Management Inc. now owns 94,915 shares of the financial services provider’s stock valued at $4,073,000 after buying an additional 2,685 shares during the last quarter. Institutional investors own 89.95% of the company’s stock.

PacWest Bancorp Company Profile

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. The Bank offers a range of loan and deposit products and services through approximately 80 branches located throughout the state of California.

5 Day Chart for NASDAQ:PACW

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