Crestline Management LP boosted its stake in PacWest Bancorp (NASDAQ:PACW) by 1,500.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,000 shares of the financial services provider’s stock after purchasing an additional 90,000 shares during the period. PacWest Bancorp comprises 0.7% of Crestline Management LP’s investment portfolio, making the stock its 13th largest position. Crestline Management LP owned 0.07% of PacWest Bancorp worth $4,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Dowling & Yahnke LLC increased its stake in shares of PacWest Bancorp by 0.8% during the second quarter. Dowling & Yahnke LLC now owns 7,858 shares of the financial services provider’s stock valued at $367,000 after buying an additional 65 shares during the period. First Allied Advisory Services Inc. increased its stake in shares of PacWest Bancorp by 1.1% during the second quarter. First Allied Advisory Services Inc. now owns 5,781 shares of the financial services provider’s stock valued at $269,000 after buying an additional 65 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of PacWest Bancorp by 1.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,895 shares of the financial services provider’s stock valued at $369,000 after buying an additional 79 shares during the period. Todd Asset Management LLC increased its stake in shares of PacWest Bancorp by 0.6% during the second quarter. Todd Asset Management LLC now owns 27,090 shares of the financial services provider’s stock valued at $1,265,000 after buying an additional 157 shares during the period. Finally, 1st Global Advisors Inc. increased its stake in shares of PacWest Bancorp by 3.4% during the second quarter. 1st Global Advisors Inc. now owns 5,180 shares of the financial services provider’s stock valued at $242,000 after buying an additional 169 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Shares of PacWest Bancorp (NASDAQ:PACW) opened at $47.32 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93. PacWest Bancorp has a 1 year low of $43.08 and a 1 year high of $57.53. The firm has a market capitalization of $6,101.24, a P/E ratio of 15.93, a P/E/G ratio of 1.60 and a beta of 1.59.

PacWest Bancorp (NASDAQ:PACW) last released its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.09. PacWest Bancorp had a return on equity of 7.87% and a net margin of 30.80%. The company had revenue of $273.07 million for the quarter, compared to analyst estimates of $281.14 million. During the same period in the previous year, the company posted $0.77 earnings per share. research analysts predict that PacWest Bancorp will post 2.97 EPS for the current fiscal year.

PacWest Bancorp announced that its board has authorized a stock buyback plan on Thursday, November 16th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Monday, November 20th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, November 17th. This represents a $2.00 annualized dividend and a dividend yield of 4.23%. PacWest Bancorp’s dividend payout ratio is presently 67.34%.

In other news, CFO Patrick J. Rusnak purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 19th. The shares were bought at an average cost of $46.92 per share, for a total transaction of $93,840.00. Following the completion of the transaction, the chief financial officer now directly owns 77,852 shares of the company’s stock, valued at approximately $3,652,815.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.98% of the company’s stock.

PACW has been the topic of several research analyst reports. UBS cut PacWest Bancorp from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, October 17th. FBR & Co cut PacWest Bancorp from a “buy” rating to a “neutral” rating and set a $50.00 target price on the stock. in a research note on Wednesday, October 18th. Raymond James Financial cut PacWest Bancorp from an “outperform” rating to a “market perform” rating and set a $55.00 target price on the stock. in a research note on Wednesday, November 1st. DA Davidson raised PacWest Bancorp from a “neutral” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Thursday, September 7th. Finally, ValuEngine cut PacWest Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. PacWest Bancorp currently has an average rating of “Hold” and an average price target of $53.00.

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About PacWest Bancorp

PacWest Bancorp is a bank holding company for Pacific Western Bank (the Bank). The Company is focused on relationship-based business banking to small, middle-market and venture-backed businesses. As of October 23, 2017, the Bank offered a range of loan and deposit products and services through 83 branches located throughout the state of California, one branch located in Durham, North Carolina, and several loan production offices located in cities across the country.

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

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