The EVP HR of Pacwest Bancorp (NASDAQ: PACW) is Selling Shares

By Carrie Williams

Today, the EVP HR of Pacwest Bancorp (NASDAQ: PACW), Christopher Blake, sold shares of PACW for $510K.

Following Christopher Blake’s last PACW Sell transaction on May 16, 2016, the stock climbed by 14.1%. In addition to Christopher Blake, one other PACW executive reported Sell trades in the last month.

Based on Pacwest Bancorp’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $275 million and quarterly net profit of $92.85 million. In comparison, last year the company earned revenue of $226 million and had a net profit of $68.97 million. The company has a one year high of $52.15 and a one year low of $29.05. PACW’s market cap is $6.22B and the company has a P/E ratio of 18.29.

Based on 3 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $47.50, reflecting a 8.0% upside.

The insider sentiment on Pacwest Bancorp has been negative according to 52 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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PacWest Bancorp engages in the provision of banking holding services through its subsidiary, Pacific Western Bank. It offers commercial banking services, including real estate, construction, commercial loans, comprehensive deposit, and treasury management services to small and middle-market businesses. The company was founded on October 22, 1999 and is headquartered in Beverly Hills, CA.^