Mogy Joel R Investment Counsel Inc. maintained its stake in shares of PacWest Bancorp (NASDAQ:PACW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,000 shares of the financial services provider’s stock at the end of the second quarter. Mogy Joel R Investment Counsel Inc.’s holdings in PacWest Bancorp were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PACW. Russell Investments Group Ltd. raised its stake in shares of PacWest Bancorp by 1.8% in the first quarter. Russell Investments Group Ltd. now owns 533,759 shares of the financial services provider’s stock valued at $28,429,000 after buying an additional 9,392 shares in the last quarter. Tealwood Asset Management Inc. bought a new stake in shares of PacWest Bancorp during the first quarter valued at approximately $3,660,000. Sit Investment Associates Inc. raised its stake in shares of PacWest Bancorp by 1.3% in the first quarter. Sit Investment Associates Inc. now owns 26,700 shares of the financial services provider’s stock valued at $1,422,000 after buying an additional 350 shares in the last quarter. NBW Capital LLC bought a new stake in shares of PacWest Bancorp during the first quarter valued at approximately $3,253,000. Finally, Nationwide Fund Advisors raised its stake in shares of PacWest Bancorp by 0.7% in the first quarter. Nationwide Fund Advisors now owns 224,539 shares of the financial services provider’s stock valued at $11,959,000 after buying an additional 1,524 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

PacWest Bancorp (PACW) opened at 43.95 on Friday. The stock has a market cap of $5.28 billion, a P/E ratio of 15.18 and a beta of 1.58. The stock has a 50 day moving average of $47.19 and a 200 day moving average of $50.24. PacWest Bancorp has a 1-year low of $41.10 and a 1-year high of $57.53.

PacWest Bancorp (NASDAQ:PACW) last released its earnings results on Tuesday, July 18th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. PacWest Bancorp had a net margin of 30.61% and a return on equity of 7.73%. The company had revenue of $277.76 million for the quarter, compared to analysts’ expectations of $272.57 million. During the same quarter last year, the business earned $0.68 EPS. Equities analysts anticipate that PacWest Bancorp will post $2.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, August 21st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Thursday, August 17th. PacWest Bancorp’s payout ratio is 68.97%.

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Several brokerages have commented on PACW. FBR & Co set a $55.00 price objective on shares of PacWest Bancorp and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Stephens raised shares of PacWest Bancorp from an “equal weight” rating to an “overweight” rating in a research report on Monday, April 24th. Zacks Investment Research raised shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. BidaskClub lowered shares of PacWest Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $55.00 price objective on shares of PacWest Bancorp in a research report on Friday, May 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $55.00.

In other PacWest Bancorp news, Director Craig A. Carlson sold 1,081 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $47.16, for a total transaction of $50,979.96. Following the sale, the director now owns 6,273 shares in the company, valued at approximately $295,834.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.98% of the stock is currently owned by company insiders.

PacWest Bancorp Company Profile

PacWest Bancorp is a bank holding company for Pacific Western Bank (the Bank). The Company is focused on relationship-based business banking to small, middle-market and venture-backed businesses. As of December 31, 2016, the Bank offered a range of loan and deposit products and services through 77 branches located throughout the state of California, one branch located in Durham, North Carolina, and several loan production offices located in cities across the country.

Institutional Ownership by Quarter for PacWest Bancorp (NASDAQ:PACW)

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