PacWest Bancorp (PACW) Stake Boosted by Cambiar Investors LLC
Cambiar Investors LLC lifted its stake in PacWest Bancorp (NASDAQ:PACW) by 9.2% in the 1st quarter, Holdings Channel reports. The firm owned 115,381 shares of the financial services provider’s stock after buying an additional 9,679 shares during the quarter. Cambiar Investors LLC’s holdings in PacWest Bancorp were worth $4,339,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Enlightenment Research LLC purchased a new position in shares of PacWest Bancorp in the 4th quarter worth about $27,000. First Hawaiian Bank increased its holdings in PacWest Bancorp by 128.5% in the 1st quarter. First Hawaiian Bank now owns 786 shares of the financial services provider’s stock worth $30,000 after buying an additional 442 shares in the last quarter. Parallel Advisors LLC increased its holdings in PacWest Bancorp by 57.0% in the 1st quarter. Parallel Advisors LLC now owns 879 shares of the financial services provider’s stock worth $33,000 after buying an additional 319 shares in the last quarter. JOYN Advisors Inc. increased its holdings in PacWest Bancorp by 439.6% in the 4th quarter. JOYN Advisors Inc. now owns 1,511 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,231 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in PacWest Bancorp by 3,228.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,692,721 shares of the financial services provider’s stock worth $51,000 after buying an additional 1,641,858 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on PACW shares. BidaskClub downgraded PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Stephens reiterated a “buy” rating and issued a $43.00 price objective on shares of PacWest Bancorp in a report on Thursday, March 21st. Zacks Investment Research downgraded PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Raymond James set a $48.00 price objective on PacWest Bancorp and gave the stock a “buy” rating in a report on Tuesday, February 26th. Finally, TheStreet upgraded PacWest Bancorp from a “c+” rating to a “b-” rating in a report on Monday, February 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. PacWest Bancorp has an average rating of “Hold” and an average price target of $46.11.
PacWest Bancorp (NASDAQ:PACW) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.01. The business had revenue of $285.94 million during the quarter, compared to the consensus estimate of $291.86 million. PacWest Bancorp had a return on equity of 9.58% and a net margin of 34.47%. During the same period in the previous year, the company posted $0.93 EPS. On average, sell-side analysts expect that PacWest Bancorp will post 3.8 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.32%. PacWest Bancorp’s dividend payout ratio is currently 64.52%.
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PacWest Bancorp 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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