PacWest Bancorp (NASDAQ:PACW) Shares Bought by Brookstone Capital Management

Brookstone Capital Management lifted its position in PacWest Bancorp (NASDAQ:PACW) by 437.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,001 shares of the financial services provider’s stock after purchasing an additional 55,338 shares during the period. Brookstone Capital Management owned about 0.06% of PacWest Bancorp worth $2,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of PACW. Convergence Investment Partners LLC purchased a new stake in shares of PacWest Bancorp in the second quarter valued at about $211,000. W.E. Donoghue & Co. LLC lifted its position in PacWest Bancorp by 628.1% in the second quarter. W.E. Donoghue & Co. LLC now owns 185,094 shares of the financial services provider’s stock valued at $7,187,000 after buying an additional 159,671 shares during the last quarter. First Midwest Bank Trust Division lifted its position in PacWest Bancorp by 75.9% in the second quarter. First Midwest Bank Trust Division now owns 13,040 shares of the financial services provider’s stock valued at $506,000 after buying an additional 5,625 shares during the last quarter. Mountain Pacific Investment Advisers Inc. ID acquired a new position in PacWest Bancorp in the second quarter valued at about $573,000. Finally, WBI Investments Inc. lifted its position in PacWest Bancorp by 197.8% in the second quarter. WBI Investments Inc. now owns 278,337 shares of the financial services provider’s stock valued at $10,808,000 after buying an additional 184,859 shares during the last quarter. 89.56% of the stock is owned by institutional investors.

Shares of PACW traded up $0.64 during mid-day trading on Tuesday, reaching $34.68. 21,333 shares of the company’s stock were exchanged, compared to its average volume of 839,070. The company has a quick ratio of 0.96, a current ratio of 0.99 and a debt-to-equity ratio of 0.49. The stock has a market cap of $4.02 billion, a PE ratio of 9.45, a PEG ratio of 0.90 and a beta of 1.45. The stock’s fifty day simple moving average is $37.36. PacWest Bancorp has a 52-week low of $31.16 and a 52-week high of $52.15.

PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.13. PacWest Bancorp had a return on equity of 9.83% and a net margin of 34.54%. The firm had revenue of $311.79 million during the quarter, compared to the consensus estimate of $291.71 million. During the same period last year, the company earned $0.92 earnings per share. As a group, equities analysts forecast that PacWest Bancorp will post 3.85 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Tuesday, August 20th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 6.92%. The ex-dividend date is Monday, August 19th. PacWest Bancorp’s dividend payout ratio is presently 64.52%.

A number of research firms have commented on PACW. ValuEngine cut shares of PacWest Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 16th. Wells Fargo & Co set a $38.00 target price on shares of PacWest Bancorp and gave the company a “hold” rating in a research report on Wednesday, April 17th. Raymond James cut shares of PacWest Bancorp from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 8th. Zacks Investment Research cut shares of PacWest Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Stephens restated a “buy” rating and set a $43.00 target price on shares of PacWest Bancorp in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $43.00.

About PacWest Bancorp

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

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