Frontier Capital Management Co. LLC reduced its stake in shares of PacWest Bancorp (NASDAQ:PACW) by 45.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 357,036 shares of the financial services provider’s stock after selling 300,454 shares during the quarter. Frontier Capital Management Co. LLC owned 0.27% of PacWest Bancorp worth $18,034,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Charter Trust Co. grew its position in 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 buying an additional 38 shares during the period. Dowling & Yahnke LLC grew its position in 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 buying an additional 65 shares during the period. First Allied Advisory Services Inc. grew its position in PacWest Bancorp by 1.1% during the second quarter. First Allied Advisory Services Inc. now owns 5,781 shares of the financial services provider’s stock worth $269,000 after buying an additional 65 shares during the period. Oppenheimer Asset Management Inc. grew its position in 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 buying an additional 79 shares during the period. Finally, Todd Asset Management LLC grew its position in shares of PacWest Bancorp by 0.6% in the second quarter. Todd Asset Management LLC now owns 27,090 shares of the financial services provider’s stock valued at $1,265,000 after purchasing an additional 157 shares during the last quarter. Institutional investors own 81.02% of the company’s stock.

Shares of PacWest Bancorp (NASDAQ:PACW) opened at $47.28 on Tuesday. PacWest Bancorp has a fifty-two week low of $41.28 and a fifty-two week high of $57.53. The firm has a market cap of $6,213.23, a price-to-earnings ratio of 16.00, a P/E/G ratio of 1.60 and a beta of 1.60. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.15.

PacWest Bancorp (NASDAQ:PACW) last announced its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.09. PacWest Bancorp had a net margin of 30.80% and a return on equity of 7.87%. The firm had revenue of $273.07 million for the quarter, compared to the consensus estimate of $281.14 million. During the same period in the previous year, the firm posted $0.77 earnings per share. equities analysts anticipate that PacWest Bancorp will post 2.98 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, November 20th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Friday, November 17th. PacWest Bancorp’s payout ratio is presently 67.34%.

Several analysts have recently commented on PACW shares. Zacks Investment Research upgraded shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. UBS AG lowered shares of PacWest Bancorp from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, October 17th. FBR & Co lowered shares of PacWest Bancorp from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research report on Wednesday, October 18th. DA Davidson upgraded shares of PacWest Bancorp from a “neutral” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Thursday, September 7th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and issued a $49.00 price target on shares of PacWest Bancorp in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. PacWest Bancorp has a consensus rating of “Hold” and a consensus target price of $53.00.

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In related news, CFO Patrick J. Rusnak acquired 2,000 shares of the stock in a transaction that occurred on Thursday, October 19th. The shares were purchased at an average cost of $46.92 per share, with a total value of $93,840.00. Following the completion of the transaction, the chief financial officer now owns 77,852 shares of the company’s stock, valued at approximately $3,652,815.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.98% of the company’s stock.

About PacWest Bancorp

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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