The 65,245 Shares in PacWest Bancorp (PACW) Acquired by Willingdon Wealth Management

The 65,245 Shares in PacWest Bancorp (PACW) Acquired by Willingdon Wealth Management

Willingdon Wealth Management purchased a new position in shares of PacWest Bancorp (NASDAQ:PACW) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 65,245 shares of the financial services provider’s stock, valued at approximately $2,800,000. PacWest Bancorp comprises about 1.4% of Willingdon Wealth Management’s holdings, making the stock its 18th largest position.

Other large investors have also bought and sold shares of the company. Mycio Wealth Partners LLC boosted its stake in 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 worth $143,000 after buying an additional 1,200 shares in the last quarter. Channing Capital Management LLC boosted its stake in 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 worth $69,314,000 after buying an additional 64,051 shares in the last quarter. Gradient Investments LLC boosted its stake in PacWest Bancorp by 5.6% in the third quarter. Gradient Investments LLC now owns 117,817 shares of the financial services provider’s stock worth $5,056,000 after buying an additional 6,259 shares in the last quarter. Rothschild Asset Management Inc. boosted its stake in PacWest Bancorp by 8.2% in the third quarter. Rothschild Asset Management Inc. now owns 415,041 shares of the financial services provider’s stock worth $17,809,000 after buying an additional 31,384 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC boosted its stake in PacWest Bancorp by 0.6% in the second quarter. Neumeier Poma Investment Counsel LLC now owns 165,675 shares of the financial services provider’s stock worth $6,591,000 after buying an additional 1,025 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of PacWest Bancorp (NASDAQ:PACW) traded down 1.01% during midday trading on Thursday, hitting $53.01. The stock had a trading volume of 608,142 shares. PacWest Bancorp has a 52-week low of $29.05 and a 52-week high of $56.46. The stock has a market cap of $6.30 billion, a PE ratio of 19.02 and a beta of 1.55. The firm has a 50 day moving average price of $54.34 and a 200-day moving average price of $45.83.

PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings results on Thursday, January 19th. The financial services provider reported $0.71 EPS for the quarter, meeting the consensus estimate of $0.71. PacWest Bancorp had a net margin of 30.41% and a return on equity of 7.80%. During the same period last year, the business earned $0.70 EPS. Equities analysts predict that PacWest Bancorp will post $2.90 EPS for the current fiscal year.

A number of equities research analysts have commented on PACW shares. Wells Fargo & Co. cut PacWest Bancorp from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 4th. They noted that the move was a valuation call. Zacks Investment Research cut PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Friday, October 21st. Finally, Raymond James Financial Inc. started coverage on PacWest Bancorp in a report on Tuesday, December 6th. They set an “outperform” rating and a $57.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $49.57.

In other PacWest Bancorp news, Director John M. Eggemeyer III sold 10,000 shares of the company’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $51.63, for a total value of $516,300.00. Following the sale, the director now directly owns 197,940 shares of the company’s stock, valued at $10,219,642.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Barry C. Fitzpatrick sold 15,000 shares of the company’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $53.84, for a total transaction of $807,600.00. The disclosure for this sale can be found here. Insiders sold 45,000 shares worth $2,381,000.00 Over the last ninety days. 1.43% of the stock is currently owned by corporate insiders.

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

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