Sippican Capital Advisors Boosts Holdings in PacWest Bancorp (PACW)

Sippican Capital Advisors lifted its stake in shares of PacWest Bancorp (NASDAQ:PACW) by 12.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,228 shares of the financial services provider’s stock after buying an additional 1,000 shares during the quarter. Sippican Capital Advisors’ holdings in PacWest Bancorp were worth $347,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in PACW. BlackRock Inc. boosted its holdings in PacWest Bancorp by 16.1% in the fourth quarter. BlackRock Inc. now owns 15,679,391 shares of the financial services provider’s stock valued at $521,810,000 after purchasing an additional 2,169,414 shares in the last quarter. Vanguard Group Inc. boosted its holdings in PacWest Bancorp by 0.3% in the third quarter. Vanguard Group Inc. now owns 11,475,220 shares of the financial services provider’s stock valued at $546,794,000 after purchasing an additional 33,069 shares in the last quarter. Vanguard Group Inc boosted its holdings in PacWest Bancorp by 0.3% in the third quarter. Vanguard Group Inc now owns 11,475,220 shares of the financial services provider’s stock valued at $546,794,000 after purchasing an additional 33,069 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in PacWest Bancorp by 10.0% in the fourth quarter. Principal Financial Group Inc. now owns 4,171,619 shares of the financial services provider’s stock valued at $138,831,000 after purchasing an additional 377,649 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in PacWest Bancorp by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,326,556 shares of the financial services provider’s stock valued at $110,706,000 after purchasing an additional 68,782 shares in the last quarter. 92.85% of the stock is owned by institutional investors and hedge funds.

NASDAQ PACW traded up $0.08 on Thursday, reaching $39.44. The stock had a trading volume of 498,476 shares, compared to its average volume of 1,030,469. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.40. PacWest Bancorp has a 12-month low of $31.16 and a 12-month high of $55.86. The stock has a market cap of $4.73 billion, a P/E ratio of 10.60, a P/E/G ratio of 1.07 and a beta of 1.53.

PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.01. PacWest Bancorp had a return on equity of 9.58% and a net margin of 34.47%. The company had revenue of $285.94 million during the quarter, compared to analysts’ expectations of $291.86 million. During the same quarter in the previous year, the business earned $0.93 earnings per share. As a group, research analysts predict that PacWest Bancorp will post 3.8 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date is Friday, May 17th. PacWest Bancorp’s dividend payout ratio is currently 64.52%.

A number of equities analysts recently issued reports on the company. Zacks Investment Research raised PacWest Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 30th. Wells Fargo & Co set a $38.00 price target on PacWest Bancorp and gave the company a “hold” rating in a report on Wednesday, April 17th. TheStreet raised PacWest Bancorp from a “c+” rating to a “b-” rating in a report on Monday, February 25th. BidaskClub raised PacWest Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Finally, Stephens reiterated a “buy” rating and issued a $43.00 price objective on shares of PacWest Bancorp in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. PacWest Bancorp presently has a consensus rating of “Hold” and a consensus target price of $46.11.

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About PacWest Bancorp

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

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