Janus Henderson Group PLC lifted its stake in PacWest Bancorp (NASDAQ:PACW) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,323,675 shares of the financial services provider’s stock after purchasing an additional 119,919 shares during the period. Janus Henderson Group PLC owned about 2.66% of PacWest Bancorp worth $164,256,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Mercantile Trust Co. raised its position in PacWest Bancorp by 94.1% during the 1st quarter. First Mercantile Trust Co. now owns 2,651 shares of the financial services provider’s stock worth $131,000 after buying an additional 1,285 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new position in PacWest Bancorp during the 1st quarter worth approximately $139,000. ARP Americas LP purchased a new position in PacWest Bancorp during the 2nd quarter worth approximately $217,000. Raymond James Trust N.A. purchased a new position in PacWest Bancorp during the 2nd quarter worth approximately $267,000. Finally, Lido Advisors LLC purchased a new position in PacWest Bancorp during the 1st quarter worth approximately $287,000. Hedge funds and other institutional investors own 87.45% of the company’s stock.
A number of brokerages have recently commented on PACW. Sandler O’Neill reaffirmed a “buy” rating and set a $59.00 price objective on shares of PacWest Bancorp in a research note on Monday, June 25th. BidaskClub cut shares of PacWest Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday. Zacks Investment Research cut shares of PacWest Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, July 28th. Stephens reaffirmed a “buy” rating and set a $58.00 target price on shares of PacWest Bancorp in a research note on Wednesday. Finally, Wedbush reaffirmed a “neutral” rating on shares of PacWest Bancorp in a research note on Monday, July 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $55.82.
PacWest Bancorp (NASDAQ:PACW) last released its earnings results on Tuesday, July 17th. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.05. The company had revenue of $301.97 million during the quarter, compared to the consensus estimate of $293.62 million. PacWest Bancorp had a return on equity of 8.70% and a net margin of 33.41%. During the same period in the previous year, the company posted $0.77 EPS. equities research analysts forecast that PacWest Bancorp will post 3.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Monday, August 20th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date was Friday, August 17th. PacWest Bancorp’s dividend payout ratio is presently 82.19%.
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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