PacWest Bancorp (NASDAQ:PACW) Shares Bought by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC raised its holdings in PacWest Bancorp (NASDAQ:PACW) by 4.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 164,258 shares of the financial services provider’s stock after purchasing an additional 7,017 shares during the period. Gilman Hill Asset Management LLC owned about 0.14% of PacWest Bancorp worth $2,806,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Cutter & CO Brokerage Inc. raised its position in shares of PacWest Bancorp by 1.8% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 30,985 shares of the financial services provider’s stock valued at $611,000 after purchasing an additional 537 shares in the last quarter. First Republic Investment Management Inc. raised its position in shares of PacWest Bancorp by 5.7% in the 2nd quarter. First Republic Investment Management Inc. now owns 13,592 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 729 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of PacWest Bancorp by 0.8% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 135,968 shares of the financial services provider’s stock valued at $2,680,000 after purchasing an additional 1,057 shares in the last quarter. US Bancorp DE raised its position in shares of PacWest Bancorp by 2.8% in the 2nd quarter. US Bancorp DE now owns 40,850 shares of the financial services provider’s stock valued at $805,000 after purchasing an additional 1,125 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of PacWest Bancorp by 28.6% in the 2nd quarter. Macquarie Group Ltd. now owns 5,529 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 1,229 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors.

PACW stock opened at $18.57 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.17 billion, a P/E ratio of -1.85 and a beta of 1.60. PacWest Bancorp has a 12-month low of $13.84 and a 12-month high of $40.14. The stock’s 50 day simple moving average is $18.26 and its 200 day simple moving average is $18.56.

PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings results on Monday, October 19th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.25). PacWest Bancorp had a negative net margin of 90.52% and a positive return on equity of 7.15%. During the same period last year, the business earned $1.07 EPS. On average, research analysts forecast that PacWest Bancorp will post 1.94 EPS for the current fiscal year.

A number of brokerages have issued reports on PACW. BidaskClub raised PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 7th. ValuEngine lowered PacWest Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. PacWest Bancorp presently has an average rating of “Hold” and an average price target of $25.20.

PacWest Bancorp Profile

PacWest Bancorp operates as the holding company for Pacific Western 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, renovation, and construction of commercial real estate properties; small business administration loans; asset-based loans for working capital needs; venture capital loans to support the 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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