Dupont Capital Management Corp grew its stake in shares of PacWest Bancorp (NASDAQ:PACW) by 263.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 33,750 shares of the financial services provider’s stock after acquiring an additional 24,452 shares during the quarter. Dupont Capital Management Corp’s holdings in PacWest Bancorp were worth $665,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerebellum GP LLC purchased a new stake in shares of PacWest Bancorp during the second quarter valued at $135,000. Smith Graham & Co. Investment Advisors LP lifted its holdings in shares of PacWest Bancorp by 5.0% during the second quarter. Smith Graham & Co. Investment Advisors LP now owns 136,402 shares of the financial services provider’s stock valued at $2,688,000 after purchasing an additional 6,525 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of PacWest Bancorp by 42.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 6,302 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 1,869 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of PacWest Bancorp during the second quarter valued at $168,000. Finally, Raymond James Trust N.A. acquired a new position in PacWest Bancorp during the second quarter valued at $274,000. 81.75% of the stock is owned by institutional investors and hedge funds.
Shares of PACW stock opened at $18.27 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 1.01. PacWest Bancorp has a fifty-two week low of $13.84 and a fifty-two week high of $40.14. The stock’s 50-day moving average is $18.85 and its two-hundred day moving average is $23.55. The firm has a market cap of $2.13 billion, a P/E ratio of -1.82 and a beta of 1.65.
PacWest Bancorp (NASDAQ:PACW) last issued its earnings results on Thursday, July 16th. The financial services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.10). The firm had revenue of $295.15 million during the quarter, compared to analyst estimates of $277.27 million. PacWest Bancorp had a positive return on equity of 7.15% and a negative net margin of 90.52%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 earnings per share. As a group, research analysts expect that PacWest Bancorp will post 2.1 EPS for the current year.
Several research analysts recently weighed in on the company. ValuEngine raised PacWest Bancorp from a “strong sell” rating to a “sell” rating in a research report on Friday, May 1st. Royal Bank of Canada dropped their price target on PacWest Bancorp from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. JMP Securities dropped their price target on PacWest Bancorp from $38.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 23rd. TheStreet lowered PacWest Bancorp from a “c” rating to a “d” rating in a research report on Tuesday, April 21st. Finally, Zacks Investment Research lowered PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, April 23rd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.50.
PacWest Bancorp Company Profile
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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