Xact Kapitalforvaltning AB increased its holdings in shares of PacWest Bancorp (NASDAQ:PACW) by 12.8% in the 4th quarter, Holdings Channel reports. The firm owned 18,511 shares of the financial services provider’s stock after acquiring an additional 2,100 shares during the period. Xact Kapitalforvaltning AB’s holdings in PacWest Bancorp were worth $616,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in PACW. Seizert Capital Partners LLC acquired a new stake in PacWest Bancorp during the third quarter worth about $32,787,000. WBI Investments Inc. bought a new stake in shares of PacWest Bancorp in the 3rd quarter valued at $18,576,000. Janus Henderson Group PLC increased its stake in shares of PacWest Bancorp by 10.6% in the 3rd quarter. Janus Henderson Group PLC now owns 3,677,017 shares of the financial services provider’s stock valued at $175,210,000 after acquiring an additional 353,342 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of PacWest Bancorp by 15,219.2% in the 3rd quarter. Panagora Asset Management Inc. now owns 351,270 shares of the financial services provider’s stock valued at $16,738,000 after acquiring an additional 348,977 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in PacWest Bancorp by 19.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,824,092 shares of the financial services provider’s stock valued at $86,919,000 after purchasing an additional 294,694 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.
PACW has been the topic of a number of analyst reports. BMO Capital Markets cut their price objective on shares of PacWest Bancorp from $52.00 to $50.00 and set a “market perform” rating on the stock in a report on Wednesday, October 17th. SunTrust Banks decreased their price target on PacWest Bancorp to $48.00 and set a “hold” rating on the stock in a research report on Thursday, October 18th. JMP Securities decreased their price target on PacWest Bancorp from $59.00 to $44.00 and set an “outperform” rating on the stock in a research report on Monday, January 14th. Stephens restated a “buy” rating and issued a $58.00 price objective on shares of PacWest Bancorp in a research report on Tuesday, October 16th. Finally, ValuEngine lowered PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. PacWest Bancorp currently has a consensus rating of “Hold” and an average price target of $49.88.
NASDAQ:PACW traded up $0.07 during trading hours on Wednesday, reaching $40.87. The stock had a trading volume of 5,429 shares, compared to its average volume of 1,208,863. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.95 and a quick ratio of 0.97. PacWest Bancorp has a 52 week low of $31.16 and a 52 week high of $55.86. The company has a market cap of $4.80 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 1.04 and a beta of 1.55.
PacWest Bancorp (NASDAQ:PACW) last posted its quarterly earnings data on Thursday, January 17th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.01. PacWest Bancorp had a return on equity of 9.64% and a net margin of 35.33%. The company had revenue of $295.29 million during the quarter, compared to analysts’ expectations of $297.05 million. During the same quarter in the previous year, the business earned $0.66 EPS. As a group, analysts anticipate that PacWest Bancorp will post 3.78 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Wednesday, February 20th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.87%. The ex-dividend date of this dividend is Tuesday, February 19th. PacWest Bancorp’s payout ratio is 64.52%.
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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