Teachers Advisors LLC Has $13.46 Million Position in PacWest Bancorp (PACW)

Teachers Advisors LLC cut its holdings in PacWest Bancorp (NASDAQ:PACW) by 18.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,129 shares of the financial services provider’s stock after selling 62,016 shares during the quarter. Teachers Advisors LLC’s holdings in PacWest Bancorp were worth $13,463,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Captrust Financial Advisors bought a new position in PacWest Bancorp in the 4th quarter valued at approximately $111,000. Steward Partners Investment Advisory LLC bought a new position in PacWest Bancorp in the 3rd quarter valued at approximately $122,000. Cerebellum GP LLC bought a new position in PacWest Bancorp in the 4th quarter valued at approximately $135,000. Bessemer Group Inc. bought a new position in PacWest Bancorp in the 4th quarter valued at approximately $144,000. Finally, Calton & Associates Inc. bought a new position in PacWest Bancorp in the 4th quarter valued at approximately $200,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

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In related news, Director Daniel B. Platt sold 7,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $53.61, for a total value of $375,270.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.98% of the stock is owned by corporate insiders.

Several equities analysts recently issued reports on the company. BidaskClub cut PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, March 27th. Zacks Investment Research raised PacWest Bancorp from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Wednesday. ValuEngine cut PacWest Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. B. Riley reissued a “neutral” rating and set a $55.00 price target (up from $52.00) on shares of PacWest Bancorp in a report on Monday, January 22nd. Finally, DA Davidson reissued a “buy” rating and set a $59.00 price target on shares of PacWest Bancorp in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $54.73.

NASDAQ PACW opened at $49.53 on Friday. The firm has a market cap of $6,229.78, a PE ratio of 16.90, a PEG ratio of 1.43 and a beta of 1.45. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.19. PacWest Bancorp has a 1-year low of $43.08 and a 1-year high of $54.86.

PacWest Bancorp (NASDAQ:PACW) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). The firm had revenue of $289.75 million for the quarter, compared to the consensus estimate of $297.74 million. PacWest Bancorp had a net margin of 30.12% and a return on equity of 7.65%. During the same period in the previous year, the company earned $0.71 earnings per share. analysts forecast that PacWest Bancorp will post 3.46 EPS for the current fiscal year.

PacWest Bancorp declared that its Board of Directors has approved a share buyback program on Friday, February 16th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

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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 October 23, 2017, the Bank offered a range of loan and deposit products and services through 83 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.

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

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