Public Employees Retirement System of Ohio raised its stake in PacWest Bancorp (NASDAQ:PACW) by 4.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 87,387 shares of the financial services provider’s stock after purchasing an additional 3,694 shares during the quarter. Public Employees Retirement System of Ohio owned 0.07% of PacWest Bancorp worth $3,393,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Hollencrest Capital Management increased its stake in shares of PacWest Bancorp by 31.4% during the first quarter. Hollencrest Capital Management now owns 41,842 shares of the financial services provider’s stock valued at $1,574,000 after buying an additional 10,000 shares during the period. BTC Capital Management Inc. purchased a new position in shares of PacWest Bancorp during the second quarter valued at approximately $3,221,000. Ceredex Value Advisors LLC increased its stake in shares of PacWest Bancorp by 36.7% during the first quarter. Ceredex Value Advisors LLC now owns 2,008,750 shares of the financial services provider’s stock valued at $75,549,000 after buying an additional 539,050 shares during the period. Meeder Asset Management Inc. increased its stake in shares of PacWest Bancorp by 10.0% during the second quarter. Meeder Asset Management Inc. now owns 9,644 shares of the financial services provider’s stock valued at $375,000 after buying an additional 873 shares during the period. Finally, Sippican Capital Advisors increased its stake in shares of PacWest Bancorp by 21.7% during the second quarter. Sippican Capital Advisors now owns 11,228 shares of the financial services provider’s stock valued at $436,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 88.52% of the company’s stock.

PACW has been the topic of several research analyst reports. Raymond James cut PacWest Bancorp from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 8th. Stephens reissued a “buy” rating and set a $43.00 target price on shares of PacWest Bancorp in a research note on Tuesday, July 16th. ValuEngine raised PacWest Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research cut PacWest Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, TheStreet cut PacWest Bancorp from a “b-” rating to a “c+” rating in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. PacWest Bancorp has an average rating of “Hold” and an average price target of $42.67.

PACW stock traded down $0.06 during midday trading on Friday, hitting $38.21. The stock had a trading volume of 208,039 shares, compared to its average volume of 767,425. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 0.99 and a beta of 1.49. The business has a 50-day moving average of $35.02 and a two-hundred day moving average of $37.75. PacWest Bancorp has a 52-week low of $31.16 and a 52-week high of $51.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.99 and a quick ratio of 0.99.

PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.13. The company had revenue of $311.79 million for the quarter, compared to analysts’ expectations of $291.71 million. PacWest Bancorp had a return on equity of 9.83% and a net margin of 34.54%. During the same period in the prior year, the firm earned $0.92 earnings per share. Research analysts predict that PacWest Bancorp will post 3.86 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $2.40 annualized dividend and a yield of 6.28%. PacWest Bancorp’s payout ratio is 64.52%.

PacWest Bancorp Company Profile

PacWest Bancorp operates as the holding company for Pacific Western Bank, a state chartered bank that provides commercial banking products and services. The company accepts demand, money market, and time deposits. It also provides real estate loans to professional developers and real estate investors for the acquisition, refinancing, and construction of commercial real estate properties; small business administration loans; asset-based loans for working capital needs; venture capital loans to support the start-up operations of entrepreneurial companies; and equipment-secured loans and leases.

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

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