PacWest Bancorp (NASDAQ:PACW) has tumbled 4.92% during the past week and has dropped 3.56% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 3.78%. PacWest Bancorp (NASDAQ:PACW) has underperformed the index by 4.44% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
PacWest Bancorp (NASDAQ:PACW): The stock opened at $38.66 on Friday but the bulls could not build on the opening and the stock topped out at $39.13 for the day. The stock traded down to $38.11 during the day, due to lack of any buying support eventually closed down at $38.43 with a loss of -0.18% for the day. The stock had closed at $38.50 on the previous day. The total traded volume was 2,031,563 shares.
The company shares have dropped -19.09% from its 1 Year high price. On Jun 26, 2015, the shares registered one year high at $48.86 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $39.77 and the 200 Day Moving Average price is recorded at $38.42.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Brennan Suzanne R, officer (EVP, Risk Management) of Pacwest Bancorp, had unloaded 20,000 shares at an average price of $40.01 in a transaction dated on April 20, 2016. The total value of the transaction was worth $800,200.
Many analysts have stated their opinion on the company shares. Equity analysts at the Brokerage firm Keefe Bruyette & Woods maintains its rating on PacWest Bancorp (NASDAQ:PACW). The rating major has initiated the coverage with outperform rating on the shares. The Analysts at Keefe Bruyette & Woods lowers the price target from $50 per share to $45 per share. The rating by the firm was issued on March 24, 2016. Currently the company Insiders own 1.43% of PacWest Bancorp shares according to the proxy statements. Institutional Investors own 91.57% of PacWest Bancorp shares. During last six month period, the net percent change held by insiders has seen a change of 3.29%.
PacWest Bancorp is a bank holding company. The Companys business is to serve as the holding bank for its subsidiary, Pacific Western Bank (Pacific Western or the Bank). It is a commercial bank that offers banking products and services, including accepting demand, money market, and time deposits and originating loans and leases, including an array of commercial real estate loans and commercial lending products. It operates in two segments: Community Banking, which includes the operations of Pacific Western Bank, excluding the CapitalSource Division, and National Lending, which includes the lending operations gained through the CapitalSource Inc. merger, Pacific Western Equipment Finance and the CapitalSource Business Finance Group. The Bank offers products and services through its CapitalSource and Square 1 Bank divisions. The Square 1 Bank Division offers financial services focused on entrepreneurial businesses, and their venture capital and private equity investors.