Bradley Foster & Sargent Inc. CT bought a new stake in PacWest Bancorp (NASDAQ:PACW) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 14,000 shares of the financial services provider’s stock, valued at approximately $707,000. Bradley Foster & Sargent Inc. CT owned 10,707.46% of PacWest Bancorp as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Ffcm LLC grew its holdings in shares of PacWest Bancorp by 172.7% during the 2nd quarter. Ffcm LLC now owns 2,394 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 1,516 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of PacWest Bancorp by 12.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,132 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 468 shares during the last quarter. Creative Planning grew its holdings in shares of PacWest Bancorp by 17.3% during the 2nd quarter. Creative Planning now owns 4,157 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 613 shares during the last quarter. Raymond James Trust N.A. bought a new stake in shares of PacWest Bancorp during the 3rd quarter valued at approximately $211,000. Finally, Investment Counselors of Maryland LLC grew its holdings in shares of PacWest Bancorp by 4.1% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 4,806 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 190 shares during the last quarter. 81.02% of the stock is currently owned by hedge funds and other institutional investors.

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Several brokerages recently issued reports on PACW. SunTrust Banks, Inc. began coverage on shares of PacWest Bancorp in a report on Friday, August 18th. They set a “hold” rating and a $49.00 price target on the stock. BidaskClub raised shares of PacWest Bancorp from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Raymond James Financial, Inc. lowered shares of PacWest Bancorp from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, October 17th. Zacks Investment Research lowered shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Finally, Stephens reaffirmed a “buy” rating and set a $56.00 price target on shares of PacWest Bancorp in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. PacWest Bancorp currently has an average rating of “Hold” and an average target price of $53.00.

In other news, CFO Patrick J. Rusnak purchased 2,000 shares of the company’s stock in a transaction dated Thursday, October 19th. The shares were purchased at an average price of $46.92 per share, for a total transaction of $93,840.00. Following the transaction, the chief financial officer now owns 77,852 shares of the company’s stock, valued at $3,652,815.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.98% of the stock is currently owned by insiders.

Shares of PacWest Bancorp (NASDAQ:PACW) opened at $44.70 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.15. PacWest Bancorp has a 1 year low of $43.08 and a 1 year high of $57.53. The company has a market cap of $5,802.11, a P/E ratio of 15.15, a P/E/G ratio of 1.51 and a beta of 1.60.

PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.09. The firm had revenue of $273.07 million for the quarter, compared to the consensus estimate of $281.14 million. PacWest Bancorp had a net margin of 30.80% and a return on equity of 7.87%. During the same quarter in the previous year, the company earned $0.77 EPS. analysts predict that PacWest Bancorp will post 2.98 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 20th will be given a $0.50 dividend. The ex-dividend date is Friday, November 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.47%. PacWest Bancorp’s dividend payout ratio (DPR) is currently 67.34%.

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.

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

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