River Oaks Capital LLC Has $4.33 Million Holdings in PacWest Bancorp (PACW)

River Oaks Capital LLC raised its stake in PacWest Bancorp (NASDAQ:PACW) by 4.5% during the third quarter, Holdings Channel reports. The institutional investor owned 90,800 shares of the financial services provider’s stock after purchasing an additional 3,900 shares during the quarter. PacWest Bancorp comprises about 3.7% of River Oaks Capital LLC’s investment portfolio, making the stock its 6th biggest position. River Oaks Capital LLC’s holdings in PacWest Bancorp were worth $4,327,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. lifted its position in PacWest Bancorp by 0.9% in the third quarter. BlackRock Inc. now owns 13,509,977 shares of the financial services provider’s stock valued at $643,751,000 after buying an additional 123,234 shares during the last quarter. Wells Fargo & Company MN lifted its position in PacWest Bancorp by 0.5% in the second quarter. Wells Fargo & Company MN now owns 4,572,333 shares of the financial services provider’s stock valued at $225,965,000 after buying an additional 20,625 shares during the last quarter. Janus Henderson Group PLC lifted its position in PacWest Bancorp by 10.6% in the third quarter. Janus Henderson Group PLC now owns 3,677,017 shares of the financial services provider’s stock valued at $175,210,000 after buying an additional 353,342 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in PacWest Bancorp by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,227,791 shares of the financial services provider’s stock valued at $159,526,000 after buying an additional 71,944 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in PacWest Bancorp by 19.3% in the third quarter. JPMorgan Chase & Co. now owns 1,824,092 shares of the financial services provider’s stock valued at $86,919,000 after buying an additional 294,694 shares during the last quarter. 89.69% of the stock is currently owned by institutional investors.

A number of research analysts have commented on PACW shares. Zacks Investment Research raised shares of PacWest Bancorp from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Wednesday, August 1st. BidaskClub raised shares of PacWest Bancorp from a “strong sell” rating to a “sell” rating in a research report on Friday, August 17th. Stephens reissued a “buy” rating and set a $58.00 price target on shares of PacWest Bancorp in a research report on Wednesday, September 12th. ValuEngine cut shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, Wells Fargo & Co set a $51.00 price target on shares of PacWest Bancorp and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $54.89.

In other news, Director Tanya M. Acker bought 1,000 shares of PacWest Bancorp stock in a transaction that occurred on Friday, September 14th. The shares were purchased at an average price of $50.26 per share, with a total value of $50,260.00. Following the completion of the acquisition, the director now directly owns 3,900 shares in the company, valued at $196,014. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew P. Wagner purchased 20,925 shares of the company’s stock in a transaction on Monday, October 29th. The stock was bought at an average price of $39.01 per share, for a total transaction of $816,284.25. Following the completion of the purchase, the chief executive officer now directly owns 530,552 shares of the company’s stock, valued at $20,696,833.52. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 31,925 shares of company stock worth $1,278,844. 1.01% of the stock is owned by corporate insiders.

Shares of NASDAQ:PACW opened at $39.64 on Monday. The company has a market capitalization of $4.77 billion, a P/E ratio of 13.58, a PEG ratio of 1.06 and a beta of 1.45. PacWest Bancorp has a fifty-two week low of $37.65 and a fifty-two week high of $55.86. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 0.97.

PacWest Bancorp (NASDAQ:PACW) last issued its earnings results on Tuesday, October 16th. The financial services provider reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The firm had revenue of $297.23 million for the quarter, compared to analysts’ expectations of $301.52 million. PacWest Bancorp had a net margin of 33.60% and a return on equity of 8.95%. During the same quarter last year, the company earned $0.84 earnings per share. As a group, analysts predict that PacWest Bancorp will post 3.7 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Tuesday, November 20th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 19th. This represents a $2.40 annualized dividend and a yield of 6.05%. PacWest Bancorp’s dividend payout ratio (DPR) is 82.19%.

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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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