Penn Capital Management Co. Inc. increased its position in shares of PacWest Bancorp (NASDAQ:PACW) by 191.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 106,690 shares of the financial services provider’s stock after purchasing an additional 70,109 shares during the quarter. Penn Capital Management Co. Inc. owned approximately 0.09% of PacWest Bancorp worth $5,143,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Charter Trust Co. increased its position in shares of PacWest Bancorp by 0.8% during the second quarter. Charter Trust Co. now owns 4,757 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 38 shares in the last quarter. Dowling & Yahnke LLC increased its position in shares of PacWest Bancorp by 0.8% during the second quarter. Dowling & Yahnke LLC now owns 7,858 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 65 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of PacWest Bancorp by 1.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,895 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 79 shares in the last quarter. Tudor Investment Corp ET AL increased its position in shares of PacWest Bancorp by 0.5% during the first quarter. Tudor Investment Corp ET AL now owns 20,370 shares of the financial services provider’s stock worth $1,085,000 after purchasing an additional 101 shares in the last quarter. Finally, World Asset Management Inc increased its position in shares of PacWest Bancorp by 1.6% during the first quarter. World Asset Management Inc now owns 7,432 shares of the financial services provider’s stock worth $396,000 after purchasing an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

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Several brokerages recently commented on PACW. SunTrust Banks, Inc. began coverage on PacWest Bancorp in a research report on Friday, August 18th. They set a “hold” rating and a $49.00 price target for the company. BidaskClub cut PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Wedbush restated a “neutral” rating and issued a $49.00 target price on shares of PacWest Bancorp in a report on Tuesday, June 27th. BMO Capital Markets restated a “hold” rating and issued a $55.00 target price on shares of PacWest Bancorp in a report on Friday, May 26th. Finally, FBR & Co set a $55.00 target price on PacWest Bancorp and gave the company a “buy” rating in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $54.73.

PacWest Bancorp (NASDAQ PACW) traded down 0.31% during trading on Thursday, hitting $47.90. The stock had a trading volume of 80,039 shares. The stock’s 50-day moving average is $45.74 and its 200 day moving average is $48.57. PacWest Bancorp has a one year low of $41.10 and a one year high of $57.53. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 16.54 and a beta of 1.59.

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

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Monday, August 21st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Thursday, August 17th. PacWest Bancorp’s dividend payout ratio is currently 68.97%.

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.

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

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