Pacwest Bancorp (NASDAQ: PACW) stock jumped 0.97% on Monday to $8.34 against a previous-day closing price of $8.26. With 3.61 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.5 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $8.36 whereas the lowest price it dropped to was $8.12. The 52-week range on PACW shows that it touched its highest point at $30.07 and its lowest point at $2.48 during that stretch. It currently has a 1-year price target of $10.32. With its current market cap of 989.04 million, PACW has annualized dividend of $0.28 while the current yield stands at 3.33%. Beta for the stock currently stands at 1.47.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PACW was up-trending over the past week, with a rise of 13.47%, but this was up by 13.47% over a month. Three-month performance surged to 11.65% while six-month performance rose 21.75%. The stock lost -67.64% in the past year, while it has lost -63.66% so far this year. A look at the trailing 12-month EPS for PACW yields -11.92 with Next year EPS estimates of 0.27. For the next quarter, that number is -0.30. This implies an EPS growth rate of -470.03% for this year and 102.18% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 3.40%.
Float and Shares Shorts:
At present, 117.82 million PACW shares are outstanding with a float of 116.16 million shares on hand for trading. On Oct 30, 2023, short shares totaled 23.5 million, which was 19.59% higher than short shares on Sep 28, 2023. In addition to Mr. Matthew P. Wagner as the firm’s Executive Chairman, Mr. Paul W. Taylor serves as its CEO, President & Director.
Institutional Ownership:
Through their ownership of 84.88% of PACW’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 47.62% of PACW, in contrast to 4.31% held by mutual funds. Shares owned by individuals account for 35.67%. As the largest shareholder in PACW with 12.41% of the stake, BlackRock Fund Advisors holds 14,710,303 shares worth 14,710,303. A second-largest stockholder of PACW, The Vanguard Group, Inc., holds 13,822,500 shares, controlling over 11.66% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in PACW, holding 9,648,803 shares or 8.14% stake. With a 5.00% stake in PACW, the SPDR S&P Regional Banking ETF is the largest stakeholder. A total of 5,927,904 shares are owned by the mutual fund manager. The iShares Core S&P Small Cap ETF, which owns about 4.68% of PACW stock, is the second-largest Mutual Fund holder. It holds 5,547,720 shares valued at 39.28 million. Vanguard Total Stock Market ETF holds 3.13% of the stake in PACW, owning 3,705,330 shares worth 26.23 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PACW since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PACW analysts setting a high price target of $14.00 and a low target of $8.00, the average target price over the next 12 months is $10.33. Based on these targets, PACW could surge 67.87% to reach the target high and fall by -4.08% to reach the target low. Reaching the average price target will result in a growth of 23.86% from current levels.
Dividends & Yield:
In terms of dividends, PACW has a current ratio of $0.04, which is $0.04 over the trailing 12-months, while a dividend of $1.48 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and PACW currently yields $3.35. In the past year, PACW’s dividend yield has been $3.35, but when looking at the stock over the past five years, its yield has been $5.81. Accordingly, PACW has a current buyback yield of $0.54. This was $0.54 for the TTM, and it was $2.73 for the past five years.
Summary of Insider Activity:
Insiders traded PACW stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 20,092 shares were sold. The number of buy transactions has increased to 49 while that of sell transactions has risen to 24 over the past year. The total number of shares bought during that period was 493,903 while 237,968 shares were sold.
