KCG Holdings Inc. Increases Position in PacWest Bancorp (PACW)

KCG Holdings Inc. boosted its stake in PacWest Bancorp (NASDAQ:PACW) by 156.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,418 shares of the financial services provider’s stock after buying an additional 27,696 shares during the period. KCG Holdings Inc.’s holdings in PacWest Bancorp were worth $2,419,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. ETRADE Capital Management LLC increased its position in shares of PacWest Bancorp by 24.3% in the third quarter. ETRADE Capital Management LLC now owns 7,701 shares of the financial services provider’s stock valued at $330,000 after buying an additional 1,504 shares in the last quarter. National Planning Corp bought a new position in shares of PacWest Bancorp during the fourth quarter valued at approximately $215,000. State Board of Administration of Florida Retirement System increased its position in shares of PacWest Bancorp by 3.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 124,431 shares of the financial services provider’s stock valued at $6,774,000 after buying an additional 3,583 shares in the last quarter. Cipher Capital LP bought a new position in shares of PacWest Bancorp during the fourth quarter valued at approximately $716,000. Finally, State Street Corp increased its position in shares of PacWest Bancorp by 12.9% in the fourth quarter. State Street Corp now owns 4,953,491 shares of the financial services provider’s stock valued at $269,670,000 after buying an additional 566,004 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

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

Shares of PacWest Bancorp (NASDAQ:PACW) traded down 2.43% during midday trading on Tuesday, hitting $47.44. The stock had a trading volume of 594,151 shares. PacWest Bancorp has a 52-week low of $35.56 and a 52-week high of $57.53. The company has a market cap of $5.61 billion, a PE ratio of 16.94 and a beta of 1.56. The company’s 50 day moving average is $48.38 and its 200 day moving average is $52.49.

PacWest Bancorp (NASDAQ:PACW) last released its quarterly earnings results on Monday, April 17th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.07. PacWest Bancorp had a net margin of 29.40% and a return on equity of 6.93%. The firm had revenue of $267.57 million for the quarter, compared to analyst estimates of $272.30 million. During the same quarter in the prior year, the firm earned $0.74 EPS. On average, analysts anticipate that PacWest Bancorp will post $2.85 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Monday, May 22nd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.22%. PacWest Bancorp’s dividend payout ratio is currently 71.17%.

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A number of analysts have recently issued reports on the company. Zacks Investment Research downgraded PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, June 8th. ValuEngine downgraded PacWest Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BMO Capital Markets reiterated a “hold” rating and set a $55.00 price target on shares of PacWest Bancorp in a research report on Friday, May 26th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $55.00 price target on shares of PacWest Bancorp in a research report on Thursday, May 18th. Finally, Stephens raised PacWest Bancorp from an “equal weight” rating to an “overweight” rating in a report on Monday, April 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $55.20.

In other news, CEO Matthew P. Wagner purchased 2,072 shares of the business’s stock in a transaction dated Wednesday, April 19th. The shares were acquired at an average price of $47.75 per share, for a total transaction of $98,938.00. Following the completion of the acquisition, the chief executive officer now directly owns 528,934 shares of the company’s stock, valued at $25,256,598.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Patrick J. Rusnak purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, April 19th. The shares were purchased at an average price of $47.75 per share, for a total transaction of $95,500.00. Following the acquisition, the chief financial officer now directly owns 81,349 shares of the company’s stock, valued at $3,884,414.75. The disclosure for this purchase can be found here. Insiders have bought 4,572 shares of company stock worth $218,398 in the last 90 days. 0.98% of the stock is owned by company insiders.

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. As of December 31, 2016, the Bank offered a range of loan and deposit products and services through 77 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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