Chartwell Investment Partners LLC Has $341,000 Holdings in PacWest Bancorp (PACW)

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Chartwell Investment Partners LLC raised its holdings in shares of PacWest Bancorp (NASDAQ:PACW) by 30.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,234 shares of the financial services provider’s stock after buying an additional 2,375 shares during the period. Chartwell Investment Partners LLC’s holdings in PacWest Bancorp were worth $341,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Crossmark Global Holdings Inc. boosted its position in PacWest Bancorp by 2.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 13,334 shares of the financial services provider’s stock valued at $444,000 after buying an additional 300 shares during the period. Arizona State Retirement System boosted its position in PacWest Bancorp by 0.5% during the fourth quarter. Arizona State Retirement System now owns 87,399 shares of the financial services provider’s stock valued at $2,909,000 after buying an additional 468 shares during the period. Advisors Asset Management Inc. boosted its position in PacWest Bancorp by 1.3% during the fourth quarter. Advisors Asset Management Inc. now owns 46,186 shares of the financial services provider’s stock valued at $1,537,000 after buying an additional 581 shares during the period. Raymond James Trust N.A. boosted its position in PacWest Bancorp by 8.8% during the fourth quarter. Raymond James Trust N.A. now owns 7,533 shares of the financial services provider’s stock valued at $251,000 after buying an additional 609 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in PacWest Bancorp by 2.7% during the fourth quarter. State of Alaska Department of Revenue now owns 29,413 shares of the financial services provider’s stock valued at $977,000 after buying an additional 772 shares during the period. Institutional investors and hedge funds own 88.26% of the company’s stock.

In related news, insider James Pieczynski purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The stock was bought at an average cost of $39.72 per share, with a total value of $397,200.00. Following the completion of the purchase, the insider now directly owns 47,497 shares in the company, valued at $1,886,580.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.01% of the stock is owned by corporate insiders.

Several analysts have issued reports on PACW shares. Stephens restated a “buy” rating and set a $58.00 price target on shares of PacWest Bancorp in a research report on Tuesday, October 16th. ValuEngine downgraded shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. BMO Capital Markets lowered their price objective on shares of PacWest Bancorp from $52.00 to $50.00 and set a “market perform” rating for the company in a research note on Wednesday, October 17th. SunTrust Banks lowered their price objective on shares of PacWest Bancorp to $48.00 and set a “hold” rating for the company in a research note on Thursday, October 18th. Finally, TheStreet downgraded shares of PacWest Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. PacWest Bancorp presently has an average rating of “Hold” and a consensus target price of $49.88.

Shares of NASDAQ:PACW opened at $39.42 on Monday. The stock has a market cap of $4.80 billion, a PE ratio of 10.60, a PEG ratio of 1.04 and a beta of 1.55. The company has a quick ratio of 0.97, a current ratio of 0.95 and a debt-to-equity ratio of 0.38. PacWest Bancorp has a 12 month low of $31.16 and a 12 month high of $55.86.

PacWest Bancorp (NASDAQ:PACW) last issued its quarterly earnings data on Thursday, January 17th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.92 by $0.01. The firm had revenue of $295.29 million during the quarter, compared to the consensus estimate of $297.05 million. PacWest Bancorp had a net margin of 35.33% and a return on equity of 9.64%. During the same period in the prior year, the firm posted $0.66 earnings per share. On average, equities analysts anticipate that PacWest Bancorp will post 3.78 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 28th. Investors of record on Wednesday, February 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 of this dividend is Tuesday, February 19th. PacWest Bancorp’s payout ratio is currently 64.52%.

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

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