Investing in PacWest Bancorp (PACW): What You Must Know


PacWest Bancorp’s recent filing unveils that its Director EGGEMEYER JOHN M III acquired Company’s shares for reported $0.38 million on Mar 10. In the deal valued at $15.33 per share,25,000 shares were bought. As a result of this transaction, EGGEMEYER JOHN M III now holds 28,500 shares worth roughly $ 0.28 million.

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Then, WAGNER MATTHEW P bought 13,885 shares, generating $293,251 in total proceeds. Upon buying the shares at $21.12, the EXECUTIVE CHAIRMAN now owns 33,885 shares.

Before that, BLAKE CHRISTOPHER D bought 6,660 shares. PacWest Bancorp shares valued at $104,828 were divested by the PRES. & CEO, COMMUNITY BANKING at a price of $15.74 per share. As a result of the transaction, BLAKE CHRISTOPHER D now holds 84,779 shares, worth roughly $0.83 million.

DA Davidson upgraded its PacWest Bancorp [PACW] rating to a Buy from a a Neutral in a research note published on Monday, March 13, 2023; the price target was decreased to $29 from $31. PT values the company’s stock at a premium of 66.38 to its Monday closing price. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in mid December from “an Overweight” to “an Equal weight”. Truist also remained covering PACW and has decreased its forecast on December 09, 2022 with a “Hold” recommendation from previously “Buy” rating. DA Davidson revised its rating on October 06, 2022. It rated PACW as “a Neutral” which previously was an “a Buy”.

Price Performance Review of PACW

On Monday, PacWest Bancorp [NASDAQ:PACW] saw its stock fall -21.05% to $9.75. On the same session, the stock had its day’s lowest price of $5.00, but rose to a high of $10.8086. Over the last five days, the stock has lost -64.42%. PacWest Bancorp shares have fallen nearly -57.52% since the year began. Nevertheless, the stocks have fallen -77.77% over the past one year. While a 52-week high of $46.84 was reached on 02/03/23, a 52-week low of $12.21 was recorded on 03/13/23. SMA at 50 days reached $25.60, while 200 days put it at $26.05. A total of 69.97 million shares were traded, compared to the trading of 11.43 million shares in the previous session.

Levels Of Support And Resistance For PACW Stock

The 24-hour chart illustrates a support level at 6.23, which if violated will result in even more drops to 2.71. On the upside, there is a resistance level at 12.04. A further resistance level may holdings at 14.33. The Relative Strength Index (RSI) on the 14-day chart is 10.74, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -10.63, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 80.12%. Stochastics %K at 7.27% indicates the stock is a buying.

How much short interest is there in PacWest Bancorp?

A steep rise in short interest was recorded in PacWest Bancorp stocks on Jan 12, 2023, growing by 0.3 million shares to a total of 5.05 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 4.75 million shares. There was a rise of 5.94%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.82% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.92.

PacWest Bancorp [PACW] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 13,384,151 shares, or roughly 11.13% of the outstanding PACW shares. In other words, the investor’s shares have fallen by -447,100 from its previous 13-F filing of 13831251.0. Additionally, BlackRock Fund Advisors increased 13.25% of its stake after which the total value it holdings stand at $282,623,261, while Fidelity Management & Research Co added 6.25% of its stake to hold $204.72 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -41,899 shares of PacWest Bancorp, while Cardinal Capital Management LLC sold -156,761 shares. At present, Dimensional Fund Advisors LP is holding 3,655,185 shares valued at $101.43 million. FIAM LLC owned 3,213,469 shares of the company at the time of its most recent 13F filing, worth $89.17 million.

According to FactSet, PacWest Bancorp’s share price will average $30.33 in the next year, based on opinions of analysts polled by the firm. This is up nearly 142.91 percent from its previous closing price of $12.35. Analysts expect PacWest Bancorp stock to reach the higher price of $33.00, while the lowest price estimate is $27.00. However, 10 analysts have rated PACW stock as an Overweight in their predictions for 2023.


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