Insider Bets Paying Off At PACW As New 52-Week High Reached

In trading on Tuesday, shares of PacWest Bancorp (PACW) touched a new 52-week high of $45.16/share. That's a 74.97% rise, or $19.35 per share from the 52-week low of $25.81 set back on 04/17/2013. That means at today's intraday high, any investor who purchased PACW stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, PACW has seen 4 different instances of insiders buying over the trailing six month period.

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Purchased Insider Title Shares Price/Share Value
09/16/2013 Barry C. Fitzpatrick Director 3,000 $33.41 $100,237.50
11/04/2013 Susan E. Lester Director 2,000 $38.03 $76,056.00
12/02/2013 Matthew P. Wagner CEO 2,415 $41.30 $99,739.50
12/05/2013 Craig A. Carlson Director 300 $41.70 $12,509.50
01/27/2014 Susan E. Lester Director 8,000 $42.60 $340,832.00

The chart below shows where PACW has traded over the past year, with the 50-day and 200-day moving averages included.

PacWest Bancorp Moving Averages Chart

In afternoon trading on Tuesday, PACW shares are changing hands at $44.94/share, slightly below the new 52-week high.

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