Rhumbline Advisers decreased its stake in shares of PacWest Bancorp (NASDAQ:PACW) by 1.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 215,433 shares of the financial services provider’s stock after selling 3,486 shares during the period. Rhumbline Advisers owned 0.18% of PacWest Bancorp worth $10,061,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in PACW. Teacher Retirement System of Texas boosted its position in shares of PacWest Bancorp by 7.2% in the second quarter. Teacher Retirement System of Texas now owns 9,760 shares of the financial services provider’s stock worth $456,000 after buying an additional 654 shares during the period. Monarch Partners Asset Management LLC boosted its position in shares of PacWest Bancorp by 65.8% in the second quarter. Monarch Partners Asset Management LLC now owns 380,530 shares of the financial services provider’s stock worth $17,771,000 after buying an additional 151,000 shares during the period. Arizona State Retirement System boosted its position in shares of PacWest Bancorp by 1.2% in the second quarter. Arizona State Retirement System now owns 50,500 shares of the financial services provider’s stock worth $2,358,000 after buying an additional 600 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of PacWest Bancorp by 3.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 723,119 shares of the financial services provider’s stock worth $33,770,000 after buying an additional 23,114 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of PacWest Bancorp by 160.4% in the second quarter. Canada Pension Plan Investment Board now owns 23,700 shares of the financial services provider’s stock worth $1,107,000 after buying an additional 14,600 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Shares of PacWest Bancorp (PACW) opened at 45.27 on Wednesday. PacWest Bancorp has a 12 month low of $41.10 and a 12 month high of $57.53. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 15.63 and a beta of 1.58. The firm’s 50-day moving average price is $47.10 and its 200-day moving average price is $50.09.

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

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, August 21st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $2.00 dividend on an annualized basis and a yield of 4.42%. PacWest Bancorp’s dividend payout ratio (DPR) is 68.97%.

COPYRIGHT VIOLATION WARNING: This news story was posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The correct version of this news story can be read at https://www.dailypolitical.com/2017/08/23/pacwest-bancorp-pacw-shares-sold-by-rhumbline-advisers.html.

A number of equities analysts have recently commented on the company. SunTrust Banks, Inc. assumed coverage on PacWest Bancorp in a report on Friday, August 18th. They issued a “hold” rating and a $49.00 target price for the company. BMO Capital Markets reiterated a “hold” rating and issued a $55.00 target price on shares of PacWest Bancorp in a report on Friday, May 26th. ValuEngine upgraded PacWest Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Stephens reiterated a “buy” rating and issued a $56.00 target price on shares of PacWest Bancorp in a report on Friday, July 14th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $55.00 target price on shares of PacWest Bancorp in a report on Thursday, May 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $54.27.

In related news, Director Craig A. Carlson sold 1,081 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $47.16, for a total transaction of $50,979.96. Following the completion of the sale, the director now directly owns 6,273 shares of the company’s stock, valued at approximately $295,834.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.98% of the stock is currently owned by corporate insiders.

PacWest Bancorp Company Profile

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.

Want to see what other hedge funds are holding PACW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PacWest Bancorp (NASDAQ:PACW).

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

Receive News & Ratings for PacWest Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PacWest Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.