PacWest Bancorp (NASDAQ:PACW) Shares Sold by US Bancorp DE

US Bancorp DE reduced its stake in shares of PacWest Bancorp (NASDAQ:PACW) by 67.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,397 shares of the financial services provider’s stock after selling 11,229 shares during the period. US Bancorp DE’s holdings in PacWest Bancorp were worth $53,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new stake in PacWest Bancorp during the 1st quarter worth about $37,000. Laffer Tengler Investments acquired a new stake in PacWest Bancorp during the 4th quarter worth about $98,000. Quadrant Capital Group LLC grew its position in shares of PacWest Bancorp by 528.1% during the 4th quarter. Quadrant Capital Group LLC now owns 4,384 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 3,686 shares during the period. CWM LLC grew its position in shares of PacWest Bancorp by 21.1% during the 1st quarter. CWM LLC now owns 12,019 shares of the financial services provider’s stock valued at $117,000 after acquiring an additional 2,091 shares during the period. Finally, Delta Financial Group Inc. acquired a new stake in shares of PacWest Bancorp during the 1st quarter valued at about $139,000. 71.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PACW shares. Keefe, Bruyette & Woods cut PacWest Bancorp from an “outperform” rating to a “market perform” rating in a research report on Sunday, July 30th. Truist Financial dropped their target price on PacWest Bancorp from $13.00 to $10.00 in a research report on Thursday, June 29th. Odeon Capital Group started coverage on PacWest Bancorp in a research report on Thursday, June 8th. They set a “hold” rating and a $8.75 target price on the stock. Finally, DA Davidson raised shares of PacWest Bancorp from a “neutral” rating to a “buy” rating in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, PacWest Bancorp has an average rating of “Hold” and an average price target of $20.08.

PacWest Bancorp Trading Up 3.6 %

PACW opened at $8.24 on Friday. The company has a debt-to-equity ratio of 3.55, a current ratio of 1.02 and a quick ratio of 1.01. The company’s 50 day simple moving average is $8.48 and its two-hundred day simple moving average is $10.85. PacWest Bancorp has a 1-year low of $2.48 and a 1-year high of $30.07. The firm has a market capitalization of $976.79 million, a price-to-earnings ratio of -0.78 and a beta of 1.45.

PacWest Bancorp (NASDAQ:PACW) last released its earnings results on Tuesday, July 25th. The financial services provider reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. PacWest Bancorp had a negative net margin of 59.41% and a positive return on equity of 13.23%. The business had revenue of $228.82 million for the quarter, compared to analyst estimates of $188.30 million. Analysts expect that PacWest Bancorp will post 0.9 EPS for the current fiscal year.

PacWest Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, August 14th. PacWest Bancorp’s dividend payout ratio (DPR) is -0.38%.

PacWest Bancorp Profile

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 mortgage loans, and real estate construction and land loans to professional developers and real estate investors for the acquisition, refinancing, renovation, and construction of commercial real estate properties; lender, equipment, and premium finance; other asset-based loans; venture capital loans to support the operations of entrepreneurial and venture-backed companies; and equipment-secured loans and leases.