Legal & General Group Plc lifted its position in PacWest Bancorp (NASDAQ:PACW) by 2.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 162,176 shares of the financial services provider’s stock after buying an additional 3,611 shares during the period. Legal & General Group Plc owned approximately 0.13% of PacWest Bancorp worth $8,015,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PACW. Commonwealth Equity Services LLC grew its position in PacWest Bancorp by 8.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 12,959 shares of the financial services provider’s stock worth $640,000 after purchasing an additional 1,034 shares during the last quarter. First Mercantile Trust Co. grew its position in PacWest Bancorp by 94.1% during the 1st quarter. First Mercantile Trust Co. now owns 2,651 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 1,285 shares during the last quarter. Mckinley Capital Management LLC Delaware grew its position in PacWest Bancorp by 5.7% during the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 24,185 shares of the financial services provider’s stock worth $1,195,000 after purchasing an additional 1,296 shares during the last quarter. Bank of Montreal Can grew its position in PacWest Bancorp by 6.9% during the 2nd quarter. Bank of Montreal Can now owns 20,677 shares of the financial services provider’s stock worth $1,022,000 after purchasing an additional 1,332 shares during the last quarter. Finally, Citigroup Inc. grew its position in PacWest Bancorp by 9.4% during the 1st quarter. Citigroup Inc. now owns 17,389 shares of the financial services provider’s stock worth $861,000 after purchasing an additional 1,489 shares during the last quarter. 87.45% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have weighed in on the stock. BidaskClub downgraded shares of PacWest Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday. Zacks Investment Research downgraded shares of PacWest Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, July 28th. Sandler O’Neill reissued a “buy” rating and set a $59.00 target price on shares of PacWest Bancorp in a research report on Monday, June 25th. Wedbush reissued a “neutral” rating on shares of PacWest Bancorp in a research report on Monday, July 16th. Finally, Stephens reissued a “buy” rating and set a $58.00 target price on shares of PacWest Bancorp in a research report on Wednesday, September 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $55.82.

PACW stock opened at $50.29 on Monday. The firm has a market capitalization of $6.07 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.33 and a beta of 1.40. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.34. PacWest Bancorp has a 12 month low of $43.61 and a 12 month high of $55.86.

PacWest Bancorp (NASDAQ:PACW) last released its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.87 by $0.05. The business had revenue of $301.97 million for the quarter, compared to the consensus estimate of $293.62 million. PacWest Bancorp had a net margin of 33.41% and a return on equity of 8.70%. During the same period in the prior year, the firm earned $0.77 EPS. research analysts expect that PacWest Bancorp will post 3.72 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Monday, August 20th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend was Friday, August 17th. PacWest Bancorp’s dividend payout ratio (DPR) is currently 82.19%.

About PacWest Bancorp

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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