418 institutions hold shares in PacWest Bancorp (PACW), with 2.44M shares held by insiders accounting for 2.09% while institutional investors hold 87.33% of the company’s shares. The shares outstanding are 116.79M, and float is at 114.44M with Short Float at 2.39%. Institutions hold 85.50% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 11.96 million shares valued at $303.89 million. The investor’s holdings represent 10.23% of the PACW Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 11.5 million shares valued at $292.17 million to account for 9.84% of the shares outstanding. The other top investors are FMR, LLC which holds 5.54 million shares representing 4.74% and valued at over $140.63 million, while Cardinal Capital Management LLC holds 4.31% of the shares totaling 5.04 million with a market value of $128.08 million.
PacWest Bancorp (NASDAQ: PACW) is 72.60% higher on its value in year-to-date trading and has touched a low of $14.52 and a high of $44.18 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The PACW stock was last observed hovering at around $43.70 in the last trading session, with the day’s gains setting it 0.14% off its average median price target of $49.50 for the next 12 months. It is also 17.28% off the consensus price target high of $53.00 offered by 10 analysts, but current levels are 2.58% higher than the price target low of $45.00 for the same period.
Currently trading at $43.84, the stock is 9.02% and 11.77% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.91 million and changing 0.32% at the moment leaves the stock 63.09% off its SMA200. PACW registered 106.69% gain for a year compared to 6-month gain of 130.62%. The firm has a 50-day simple moving average (SMA 50) of $39.94 and a 200-day simple moving average (SMA200) of $30.70.
The stock witnessed a 11.55% loss in the last 1 month and extending the period to 3 months gives it a 41.19%, and is 8.33% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.63% over the week and 3.30% over the month.
PacWest Bancorp (PACW) has around 1700 employees, a market worth around $4.86B and $1.09B in sales. Current P/E ratio is 14.92 and Fwd P/E is 10.55. Distance from 52-week low is 201.82% and -0.77% from its 52-week high. The company has generated returns on investments over the last 12 months (23.10%).
PacWest Bancorp (PACW) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for PacWest Bancorp (PACW) is a “Buy”. 10 analysts offering their recommendations for the stock have an average rating of 1.90, where 2 rate it as a Hold and 0 think it is a “Overweight”. 8 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
PacWest Bancorp is expected to release its quarterly report on 07/20/2021 and quarterly earnings per share for the current quarter are estimated at $0.98 with sales reaching $306.49M over the same period.The EPS is expected to shrink by -372.30% this year, but quarterly earnings will post 6.90% year-over-year. Quarterly sales are estimated to grow 10.00% in year-over-year returns.
PacWest Bancorp (PACW) Insider Activity
A total of 38 insider transactions have happened at PacWest Bancorp (PACW) in the last six months, with sales accounting for 19 and purchases happening 19 times. The most recent transaction is an insider sale by CORSINI BRYAN M, the company’s EVP, Chief Credit Officer. SEC filings show that CORSINI BRYAN M sold 781 shares of the company’s common stock on Mar 04 at a price of $38.09 per share for a total of $29750.0. Following the sale, the insider now owns 69500.0 shares.
PacWest Bancorp disclosed in a document filed with the SEC on Feb 08 that CORSINI BRYAN M (EVP, Chief Credit Officer) sold a total of 16,817 shares of the company’s common stock. The trade occurred on Feb 08 and was made at $33.69 per share for $0.57 million. Following the transaction, the insider now directly holds 58238.0 shares of the PACW stock.
PacWest Bancorp (PACW): Who are the competitors?
The company’s main competitors (and peers) include SVB Financial Group (SIVB) that is trading 188.04% up over the past 12 months. Wells Fargo & Company (WFC) is 54.13% up on the 1-year trading charts. Short interest in the company’s stock has risen 10.78% from the last report on Apr 14, 2021 to stand at a total of 2.73 million short shares sold with a short interest ratio of 2.18.