Vaughan Nelson Investment Management L.P. Lowers Stock Position in PacWest Bancorp (NASDAQ:PACW)

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Vaughan Nelson Investment Management L.P. lowered its position in shares of PacWest Bancorp (NASDAQ:PACW) by 5.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 525,410 shares of the financial services provider’s stock after selling 28,435 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in PacWest Bancorp were worth $8,974,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PACW. Prudential Financial Inc. lifted its position in PacWest Bancorp by 733.8% during the second quarter. Prudential Financial Inc. now owns 2,702,610 shares of the financial services provider’s stock valued at $53,269,000 after buying an additional 2,378,466 shares during the period. FMR LLC lifted its position in PacWest Bancorp by 169.4% during the second quarter. FMR LLC now owns 3,760,641 shares of the financial services provider’s stock valued at $74,122,000 after buying an additional 2,364,544 shares during the period. Fisher Asset Management LLC lifted its position in PacWest Bancorp by 72.4% during the second quarter. Fisher Asset Management LLC now owns 1,179,164 shares of the financial services provider’s stock valued at $23,241,000 after buying an additional 495,386 shares during the period. Charles Schwab Investment Management Inc. lifted its position in PacWest Bancorp by 29.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,730,093 shares of the financial services provider’s stock valued at $34,101,000 after buying an additional 390,358 shares during the period. Finally, Balyasny Asset Management LLC lifted its position in PacWest Bancorp by 635.2% during the second quarter. Balyasny Asset Management LLC now owns 314,317 shares of the financial services provider’s stock valued at $6,195,000 after buying an additional 271,563 shares during the period. 79.90% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:PACW opened at $25.28 on Tuesday. PacWest Bancorp has a fifty-two week low of $13.84 and a fifty-two week high of $39.39. The business has a 50-day simple moving average of $19.47 and a two-hundred day simple moving average of $18.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of -2.39 and a beta of 1.64.

PacWest Bancorp (NASDAQ:PACW) last issued its earnings results on Monday, October 19th. The financial services provider reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.25). PacWest Bancorp had a positive return on equity of 5.96% and a negative net margin of 98.27%. During the same period in the previous year, the business posted $1.07 earnings per share. As a group, research analysts predict that PacWest Bancorp will post 1.58 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Monday, November 30th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Friday, November 27th. PacWest Bancorp’s dividend payout ratio (DPR) is 25.64%.

PACW has been the subject of several recent analyst reports. BidaskClub raised PacWest Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, October 27th. ValuEngine raised PacWest Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. PacWest Bancorp currently has an average rating of “Hold” and an average target price of $25.20.

PacWest Bancorp Profile

PacWest Bancorp operates as the holding company for Pacific Western 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, renovation, and construction of commercial real estate properties; small business administration loans; asset-based loans for working capital needs; venture capital loans to support the 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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