PacWest Bancorp (NASDAQ:PACW) Shares Bought by Swiss National Bank

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Swiss National Bank raised its holdings in PacWest Bancorp (NASDAQ:PACW) by 1.6% in the 1st quarter, Holdings Channel reports. The firm owned 221,873 shares of the financial services provider’s stock after purchasing an additional 3,600 shares during the quarter. Swiss National Bank’s holdings in PacWest Bancorp were worth $8,345,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of PacWest Bancorp by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 3,433,886 shares of the financial services provider’s stock worth $129,150,000 after acquiring an additional 107,330 shares during the last quarter. Ceredex Value Advisors LLC increased its holdings in PacWest Bancorp by 36.7% in 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 purchasing an additional 539,050 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in PacWest Bancorp by 27.2% in the first quarter. CIBC Private Wealth Group LLC now owns 14,299 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 3,061 shares during the last quarter. Cable Hill Partners LLC increased its holdings in PacWest Bancorp by 9.4% in the first quarter. Cable Hill Partners LLC now owns 47,280 shares of the financial services provider’s stock valued at $1,778,000 after purchasing an additional 4,065 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in PacWest Bancorp by 168.4% in the first quarter. PNC Financial Services Group Inc. now owns 21,096 shares of the financial services provider’s stock valued at $795,000 after purchasing an additional 13,235 shares during the last quarter. Hedge funds and other institutional investors own 89.59% of the company’s stock.

PACW stock opened at $38.27 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.40. The stock has a market cap of $4.53 billion, a PE ratio of 10.29, a PEG ratio of 1.00 and a beta of 1.48. PacWest Bancorp has a fifty-two week low of $31.16 and a fifty-two week high of $54.78.

PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.01. The company had revenue of $285.94 million during the quarter, compared to analysts’ expectations of $291.86 million. PacWest Bancorp had a return on equity of 9.58% and a net margin of 34.47%. During the same period in the prior year, the firm earned $0.93 earnings per share. As a group, equities research analysts anticipate that PacWest Bancorp will post 3.81 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a dividend of $0.60 per share. The ex-dividend date was Friday, May 17th. This represents a $2.40 annualized dividend and a yield of 6.27%. PacWest Bancorp’s dividend payout ratio (DPR) is presently 64.52%.

A number of research firms have issued reports on PACW. TheStreet raised PacWest Bancorp from a “c+” rating to a “b-” rating in a research note on Monday, February 25th. Raymond James set a $48.00 price objective on PacWest Bancorp and gave the stock a “buy” rating in a research report on Tuesday, February 26th. Stephens reaffirmed a “buy” rating and set a $43.00 price objective on shares of PacWest Bancorp in a research report on Thursday, March 21st. Zacks Investment Research raised PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. Finally, BidaskClub raised PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $46.11.

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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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