Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PacWest Bancorp (NASDAQ:PACW) by 12.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,132 shares of the financial services provider’s stock after acquiring an additional 468 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PacWest Bancorp were worth $193,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of PacWest Bancorp by 8,223.2% during the first quarter. BlackRock Inc. now owns 13,143,190 shares of the financial services provider’s stock valued at $700,008,000 after acquiring an additional 12,985,280 shares in the last quarter. Vanguard Group Inc. increased its position in shares of PacWest Bancorp by 6.3% during the first quarter. Vanguard Group Inc. now owns 9,896,031 shares of the financial services provider’s stock valued at $527,062,000 after acquiring an additional 583,193 shares in the last quarter. State Street Corp increased its position in shares of PacWest Bancorp by 3.7% during the first quarter. State Street Corp now owns 5,138,069 shares of the financial services provider’s stock valued at $273,659,000 after acquiring an additional 184,578 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of PacWest Bancorp by 4.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,919,796 shares of the financial services provider’s stock valued at $155,513,000 after acquiring an additional 135,004 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of PacWest Bancorp by 2.9% during the first quarter. Neuberger Berman Group LLC now owns 2,608,880 shares of the financial services provider’s stock valued at $138,949,000 after acquiring an additional 74,605 shares in the last quarter. 90.18% of the stock is owned by institutional investors.

PACW has been the subject of several analyst reports. BMO Capital Markets reissued a “hold” rating and set a $55.00 price target on shares of PacWest Bancorp in a research report on Friday, May 26th. ValuEngine downgraded shares of PacWest Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, June 8th. BidaskClub downgraded shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Wedbush reissued a “neutral” rating and set a $49.00 price target on shares of PacWest Bancorp in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $54.73.

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Shares of PacWest Bancorp (NASDAQ PACW) opened at 45.68 on Friday. PacWest Bancorp has a 52-week low of $41.10 and a 52-week high of $57.53. The company has a market cap of $5.48 billion, a P/E ratio of 15.77 and a beta of 1.59. The firm has a 50-day moving average of $45.79 and a 200-day moving average of $48.81.

PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.06. PacWest Bancorp had a net margin of 30.61% and a return on equity of 7.73%. The business had revenue of $277.76 million for the quarter, compared to analyst estimates of $272.57 million. During the same quarter in the prior year, the business posted $0.68 EPS. Equities research analysts forecast that PacWest Bancorp will post $2.95 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Monday, August 21st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $2.00 dividend on an annualized basis and a yield of 4.38%. PacWest Bancorp’s payout ratio is 68.97%.

About PacWest Bancorp

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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