On May 2, 2023 at 13:19:45 ET an unusually large $159.89K block of Put contracts in Pacwest Bancorp (PACW) was bought, with a strike price of $6.50 / share, expiring in 3 day(s) (on May 5, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.32 sigmas above the mean, placing it in the 87.46th percentile of all recent large trades made in PACW options.
This trade was first picked up on Fintel's real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 700 funds or institutions reporting positions in Pacwest Bancorp. This is a decrease of 22 owner(s) or 3.05% in the last quarter. Average portfolio weight of all funds dedicated to PACW is 0.21%, a decrease of 2.28%. Total shares owned by institutions decreased in the last three months by 5.70% to 120,975K shares. 
The put/call ratio of PACW is 0.90, indicating a bullish outlook.
Analyst Price Forecast Suggests 94.93% Upside
As of April 24, 2023, the average one-year price target for Pacwest Bancorp is $17.68. The forecasts range from a low of $10.10 to a high of $33.60. The average price target represents an increase of 94.93% from its latest reported closing price of $9.07.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Pacwest Bancorp is $1,566MM, an increase of 18.26%. The projected annual non-GAAP EPS is $3.95.
What are Other Shareholders Doing?
FYX - First Trust Small Cap Core AlphaDEX Fund holds 108K shares representing 0.09% ownership of the company. In it's prior filing, the firm reported owning 81K shares, representing an increase of 24.62%. The firm increased its portfolio allocation in PACW by 39.15% over the last quarter.
Cipher Capital holds 17K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Bank Of Nova Scotia holds 70K shares representing 0.06% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
GSEQX - Goldman Sachs Multi-Manager Global Equity Fund Class R6 Shares holds 2K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 3K shares, representing a decrease of 67.24%. The firm decreased its portfolio allocation in PACW by 52.75% over the last quarter.
JSTC - Adasina Social Justice All Cap Global ETF holds 2K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 2K shares, representing an increase of 13.25%.
Pacwest Bancorp Background Information
(This description is provided by the company.)
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.
See all Pacwest Bancorp regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
