PacWest Bancorp (NASDAQ:PACW) Position Trimmed by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in shares of PacWest Bancorp (NASDAQ:PACWGet Rating) by 9.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 98,259 shares of the financial services provider’s stock after selling 10,790 shares during the period. Mutual of America Capital Management LLC owned about 0.08% of PacWest Bancorp worth $2,620,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in PacWest Bancorp by 2.4% in the 1st quarter. Arizona State Retirement System now owns 32,318 shares of the financial services provider’s stock worth $1,394,000 after purchasing an additional 770 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in PacWest Bancorp by 5.6% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 62,450 shares of the financial services provider’s stock worth $2,693,000 after purchasing an additional 3,305 shares during the period. Toronto Dominion Bank boosted its stake in PacWest Bancorp by 39.9% in the 1st quarter. Toronto Dominion Bank now owns 71,295 shares of the financial services provider’s stock worth $3,075,000 after purchasing an additional 20,346 shares during the period. New York State Common Retirement Fund boosted its stake in PacWest Bancorp by 6.7% in the 1st quarter. New York State Common Retirement Fund now owns 347,259 shares of the financial services provider’s stock worth $14,977,000 after purchasing an additional 21,781 shares during the period. Finally, Jennison Associates LLC boosted its stake in PacWest Bancorp by 5.8% in the 1st quarter. Jennison Associates LLC now owns 1,235,119 shares of the financial services provider’s stock worth $53,271,000 after purchasing an additional 67,165 shares during the period. 91.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PACW. DA Davidson decreased their price objective on shares of PacWest Bancorp to $25.00 in a research note on Thursday, October 27th. StockNews.com began coverage on shares of PacWest Bancorp in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Royal Bank of Canada cut their target price on shares of PacWest Bancorp from $32.00 to $31.00 and set an “outperform” rating for the company in a research report on Friday, October 21st. TheStreet downgraded shares of PacWest Bancorp from a “b-” rating to a “c+” rating in a research report on Tuesday, July 26th. Finally, Wells Fargo & Company cut their target price on shares of PacWest Bancorp from $35.00 to $32.00 and set an “overweight” rating for the company in a research report on Friday, October 21st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

PacWest Bancorp Stock Up 1.6 %

PacWest Bancorp stock opened at $26.16 on Wednesday. The company has a market capitalization of $3.08 billion, a P/E ratio of 6.24 and a beta of 1.39. The firm’s fifty day simple moving average is $24.43 and its 200-day simple moving average is $26.96. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81. PacWest Bancorp has a 1-year low of $21.29 and a 1-year high of $51.81.

PacWest Bancorp (NASDAQ:PACWGet Rating) last released its quarterly earnings results on Thursday, October 20th. The financial services provider reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.07). The business had revenue of $373.80 million for the quarter, compared to the consensus estimate of $380.82 million. PacWest Bancorp had a net margin of 32.92% and a return on equity of 14.07%. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.17 EPS. Sell-side analysts forecast that PacWest Bancorp will post 4.05 earnings per share for the current fiscal year.

PacWest Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Tuesday, November 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.82%. PacWest Bancorp’s dividend payout ratio is currently 23.87%.

PacWest Bancorp Company Profile

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PacWest Bancorp operates as the bank holding company for Pacific Western Bank that provides various 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, renovation, and construction of commercial real estate properties; small business administration loans; asset-based loans for working capital needs; venture capital loans to support the operations of entrepreneurial and venture-backed companies; and equipment-secured loans and leases.

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

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