Pacwest Bancorp (PACW)

Company Profile

PacWest Bancorp ('PacWest') is a bank holding company with over $29 billion in assets headquartered in Los Angeles, California, with executive offices in Denver, Colorado, with one wholly-owned banking subsidiary, Pacific Western Bank (the 'Bank'). The Bank has 70 full-service branches located in California, one branch located in Durham, North Carolina, and one branch located in Denver, Colorado. Its Community Banking group provides lending and comprehensive deposit and treasury management services to small and medium-sized businesses conducted primarily through its California-based branch offices and Denver, Colorado branch office. It offers additional products and services through its National Lending and Venture Banking groups. National Lending provides asset-based, equipment, and real estate loans and treasury management services to established middle market businesses on a national basis. Venture Banking offers a comprehensive suite of financial services focused on entrepreneurial or venture-backed businesses and their venture capital and private equity investors, with offices located in key innovation hubs across the United States.

Company profile

Ticker

PACW, PACWP

Exchange

NASDAQ

Website

pacwestbancorp.com

CEO

Matthew Wagner

Incorporated

Delaware

Location

California

Fiscal year end

Dec 31

Sector

Finance and Insurance > Commercial Banking

Industry (SIC)

National Commercial Banks

JPMorgan Chase & Co. • Citigroup • U.S. Bancorp. • PNC Financial Services • Shinhan Financial • HSBC USA • Bank Of America • Regions Financial • Keycorp • Santander Holdings USA ...

Former names

FIRST COMMUNITY BANCORP /CA/

SEC CIK

0001102112

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

10700 West Jefferson Avenue SBL LLC • 1323 Burnet Avenue SBL LLC • 1335 Darby Street SBL LLC • 1602 East Central Boulevard SBL LLC • 1602 Medical Parkway SBL LLC • 2030 Main Street SBL LLC • 2499 Futura Parkway LLC • 272 Fletchwood Road SBL LLC • 2921 New Highway 51 SBL LLC • 31250 Cedar Valley Drive II CRE LLC ...

IRS number

330885320

PACW stock data

1M 1Y 5Y

Analyst ratings and price targets

Last 3 months

Average target

$23.33

Low target

$13.00

High target

$29.00

Latest filings (excl ownership)

View all

ARS

2022 FY

Annual report to shareholders

23 Mar 23

DEFA14A

Additional proxy soliciting materials

23 Mar 23

PACific western bank PROVIDES FURTHER UPDATE AND DETAILS ON FINANCIAL STRENGTH

22 Mar 23

8-K

Pacific Western Bank Issues End of Week Update

17 Mar 23

8-K

Pacwest Bancorp Issues Updated Financial Figures; Reiterates Capital and Liquidity Strategy and Financial Position In Light of Industry Developments

Regulation FD Disclosure

17 Feb 23

8-K

Pacwest Bancorp Announces Results for the Fourth Quarter and Full Year 2022

26 Jan 23

8-K

Pacwest Bancorp Announces Leadership Transitions

21 Nov 22

Transcripts

PACW

Earnings call transcript

2022 Q4

27 Jan 23

PACW

Earnings call transcript

2022 Q3

20 Oct 22

PACW

Earnings call transcript

2022 Q2

21 Jul 22

Latest ownership filings

View all

Financial summary

Financial statements Chart PACW financial data

Quarter (USD)	Dec 22	Sep 22	Jun 22	Mar 22
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 22	Dec 21	Dec 20	Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	2.24 bn	2.24 bn	2.24 bn	2.24 bn	2.24 bn	2.24 bn
Cash burn (monthly)	73.50 mm	151.42 mm	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	220.69 mm	454.68 mm	n/a	n/a	n/a	n/a
Cash remaining	2.02 bn	1.79 bn	n/a	n/a	n/a	n/a
Runway (months of cash)	27.5	11.8	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q4 2022

PACW institutional ownership history Ownership history

91.7% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	297	300	-1.0%
Opened positions	40	35	+14.3%
Closed positions	43	64	-32.8%
Increased positions	100	109	-8.3%
Reduced positions	109	114	-4.4%

13F shares	Current	Prev Q	Change
Total value	2.39 tn	2.66 bn	+89982.2%
Total shares	108.25 mm	101.44 mm	+6.7%
Total puts	63.40 k	94.30 k	-32.8%
Total calls	443.90 k	251.40 k	+76.6%
Total put/call ratio	0.1	0.4	-61.9%

Largest owners	Shares	Value	Change
Vanguard	13.59 mm	$311.92 bn	-3.1%
BLK Blackrock	12.11 mm	$277.86 bn	+9.7%
FMR	10.59 mm	$243.06 bn	+0.0%
STT State Street	6.01 mm	$137.95 bn	NEW
Cardinal Capital Management	4.19 mm	$96.09 bn	-3.6%
Dimensional Fund Advisors	3.66 mm	$84.21 bn	+13.8%
Balyasny Asset Management	2.80 mm	$64.30 bn	NEW
Fisher Asset Management	2.59 mm	$59.53 mm	+39.1%
IVZ Invesco	2.12 mm	$48.71 bn	+4.4%
Davis Asset Management	2.03 mm	$46.59 bn	0.0%

Largest transactions	Shares	Bought/sold	Change
STT State Street	6.01 mm	+6.01 mm	NEW
Balyasny Asset Management	2.80 mm	+2.80 mm	NEW
Norges Bank	1.16 mm	+1.16 mm	NEW
Deutsche Bank AG - Registered Shares	91.09 k	-1.11 mm	-92.4%
BLK Blackrock	12.11 mm	+1.07 mm	+9.7%
GS Goldman Sachs	1.41 mm	-950.69 k	-40.2%
Fisher Asset Management	2.59 mm	+729.76 k	+39.1%
Millennium Management	62.46 k	-687.36 k	-91.7%
Arrowstreet Capital, Limited Partnership	0.00	-543.36 k	EXIT
Walleye Capital	625.89 k	+522.13 k	+503.2%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

PACW insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
17 Mar 23	Thompson Kevin L	Common Stock	Grant	Acquire A	No	No	22.5	12,100	272.25 k	43,396
15 Mar 23	Thompson Kevin L	Common Stock	Grant	Acquire A	No	No	22.5	400	9.00 k	31,296
10 Mar 23	Matthew P Wagner	Depositary Shares of Series A Preferred Stock	Buy	Acquire P	No	No	21.12	13,885	293.25 k	33,885
10 Mar 23	Eggemeyer John M Iii	Common Stock	Buy	Acquire P	Yes	No	15.33	25,000	383.25 k	28,500
10 Mar 23	Lester Susan E	Common Stock	Buy	Acquire P	No	No	15.17	1,000	15.17 k	36,675
10 Mar 23	Yung Mark	Common Stock	Buy	Acquire P	Yes	No	15.254	3,148	48.02 k	12,118
9 Mar 23	Thompson Kevin L	Put Option (obligation to buy) Common Stock		Dispose X	No	No	22.5	121	2.72 k	0
9 Mar 23	Thompson Kevin L	Put Option (obligation to buy) Common Stock		Dispose X	No	No	22.5	4	90.00	121