Dimensional Fund Advisors LP Increases Position in PacWest Bancorp (PACW)

Dimensional Fund Advisors LP grew its holdings in PacWest Bancorp (NASDAQ:PACW) by 2.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,326,556 shares of the financial services provider’s stock after acquiring an additional 68,782 shares during the quarter. Dimensional Fund Advisors LP’s holdings in PacWest Bancorp were worth $110,706,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Enlightenment Research LLC purchased a new stake in shares of PacWest Bancorp in the fourth quarter valued at about $27,000. JOYN Advisors Inc. raised its holdings in shares of PacWest Bancorp by 439.6% in the fourth quarter. JOYN Advisors Inc. now owns 1,511 shares of the financial services provider’s stock valued at $50,000 after buying an additional 1,231 shares during the last quarter. Lindbrook Capital LLC purchased a new stake in shares of PacWest Bancorp in the fourth quarter valued at about $52,000. Toronto Dominion Bank purchased a new stake in shares of PacWest Bancorp in the fourth quarter valued at about $76,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of PacWest Bancorp in the fourth quarter valued at about $124,000. 92.85% of the stock is owned by institutional investors and hedge funds.

NASDAQ PACW opened at $38.59 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.96 and a quick ratio of 0.96. PacWest Bancorp has a 52-week low of $31.16 and a 52-week high of $55.86. The stock has a market cap of $4.59 billion, a P/E ratio of 10.37, a PEG ratio of 1.04 and a beta of 1.53.

PacWest Bancorp (NASDAQ:PACW) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.01. PacWest Bancorp had a net margin of 34.47% and a return on equity of 9.58%. The company had revenue of $285.94 million for the quarter, compared to analyst estimates of $291.86 million. During the same period in the prior year, the business posted $0.93 earnings per share. As a group, sell-side analysts predict that PacWest Bancorp will post 3.8 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, May 17th. This represents a $2.40 annualized dividend and a yield of 6.22%. PacWest Bancorp’s payout ratio is currently 64.52%.

A number of brokerages have recently commented on PACW. BMO Capital Markets upped their target price on shares of PacWest Bancorp to $38.00 in a report on Tuesday, January 22nd. Zacks Investment Research cut shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Raymond James set a $46.00 price target on shares of PacWest Bancorp and gave the stock a “hold” rating in a report on Friday, January 18th. Stephens reissued a “buy” rating and set a $43.00 price target on shares of PacWest Bancorp in a report on Thursday, March 21st. Finally, Wells Fargo & Co set a $38.00 price target on shares of PacWest Bancorp and gave the stock a “hold” rating in a report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target 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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