Several other equities analysts have also recently commented on PACW. Stephens reaffirmed a buy rating and set a $43.00 price objective on shares of PacWest Bancorp in a research note on Tuesday, July 16th. Raymond James cut shares of PacWest Bancorp from a strong-buy rating to a market perform rating in a research note on Monday, July 8th. TheStreet lowered shares of PacWest Bancorp from a b- rating to a c+ rating in a research report on Tuesday, August 27th. ValuEngine lowered shares of PacWest Bancorp from a sell rating to a strong sell rating in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada assumed coverage on shares of PacWest Bancorp in a research report on Friday, August 23rd. They set an outperform rating and a $40.00 target price for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. PacWest Bancorp presently has a consensus rating of Hold and an average price target of $42.67.
Shares of PacWest Bancorp stock traded down $0.06 during trading hours on Thursday, reaching $38.21. The company’s stock had a trading volume of 208,039 shares, compared to its average volume of 767,425. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s fifty day simple moving average is $35.02 and its two-hundred day simple moving average is $37.75. PacWest Bancorp has a one year low of $31.16 and a one year high of $51.05. The company has a market capitalization of $4.52 billion, a P/E ratio of 9.91, a P/E/G ratio of 0.99 and a beta of 1.49.
The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.60 per share. 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 presently 64.52%.
Institutional investors and hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management lifted its holdings in shares of PacWest Bancorp by 31.4% in the 1st quarter. Hollencrest Capital Management now owns 41,842 shares of the financial services provider’s stock worth $1,574,000 after acquiring an additional 10,000 shares during the last quarter. BTC Capital Management Inc. bought a new stake in PacWest Bancorp during the 2nd quarter valued at $3,221,000. Ceredex Value Advisors LLC raised its holdings in PacWest Bancorp by 36.7% during the 1st 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 last quarter. Meeder Asset Management Inc. raised its holdings in PacWest Bancorp by 10.0% during the 2nd 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 last quarter. Finally, Sippican Capital Advisors raised its holdings in PacWest Bancorp by 21.7% during the 2nd 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 last quarter. Hedge funds and other institutional investors own 88.52% of the company’s stock.
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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