PacWest Bancorp (PACW) Stake Raised by AlphaOne Investment Services LLC

AlphaOne Investment Services LLC grew its holdings in shares of PacWest Bancorp (NASDAQ:PACW) by 6.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,590 shares of the financial services provider’s stock after buying an additional 5,062 shares during the period. AlphaOne Investment Services LLC owned 0.07% of PacWest Bancorp worth $3,950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Penn Capital Management Co. Inc. raised its holdings in shares of PacWest Bancorp by 191.7% during the second quarter. Penn Capital Management Co. Inc. now owns 106,690 shares of the financial services provider’s stock valued at $5,143,000 after buying an additional 70,109 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of PacWest Bancorp by 6.4% during the second quarter. D.A. Davidson & CO. now owns 51,720 shares of the financial services provider’s stock valued at $2,415,000 after buying an additional 3,102 shares during the last quarter. Pinebridge Investments L.P. raised its holdings in shares of PacWest Bancorp by 2.6% during the second quarter. Pinebridge Investments L.P. now owns 63,816 shares of the financial services provider’s stock valued at $2,980,000 after buying an additional 1,637 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of PacWest Bancorp by 90.6% during the second quarter. GSA Capital Partners LLP now owns 7,761 shares of the financial services provider’s stock valued at $362,000 after buying an additional 3,690 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of PacWest Bancorp by 21.6% during the second quarter. UBS Asset Management Americas Inc. now owns 85,015 shares of the financial services provider’s stock valued at $3,970,000 after buying an additional 15,108 shares during the last quarter. 88.75% of the stock is currently owned by institutional investors.

PacWest Bancorp (NASDAQ:PACW) traded up 0.581% on Wednesday, hitting $47.595. 261,565 shares of the company were exchanged. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 16.435 and a beta of 1.59. PacWest Bancorp has a one year low of $41.10 and a one year high of $57.53. The stock has a 50 day moving average price of $45.74 and a 200 day moving average price of $48.57.

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

The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Monday, August 21st were given a dividend of $0.50 per share. The ex-dividend date was Thursday, August 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.23%. PacWest Bancorp’s payout ratio is 68.97%.

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

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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.

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

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