Hollencrest Capital Management Acquires 10,000 Shares of PacWest Bancorp (PACW)

Hollencrest Capital Management lifted its holdings in shares of PacWest Bancorp (NASDAQ:PACW) by 31.4% during the 1st quarter, Holdings Channel reports. The firm owned 41,842 shares of the financial services provider’s stock after buying an additional 10,000 shares during the quarter. Hollencrest Capital Management’s holdings in PacWest Bancorp were worth $1,574,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Enlightenment Research LLC purchased a new stake in shares of PacWest Bancorp in the 4th quarter worth about $27,000. First Hawaiian Bank increased its stake in PacWest Bancorp by 128.5% during the 1st quarter. First Hawaiian Bank now owns 786 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 442 shares in the last quarter. Parallel Advisors LLC increased its stake in PacWest Bancorp by 57.0% during the 1st quarter. Parallel Advisors LLC now owns 879 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 319 shares in the last quarter. JOYN Advisors Inc. increased its stake in PacWest Bancorp by 439.6% during the 4th quarter. JOYN Advisors Inc. now owns 1,511 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 1,231 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in PacWest Bancorp by 3,228.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,692,721 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 1,641,858 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on the stock. Wells Fargo & Co set a $38.00 price objective on shares of PacWest Bancorp and gave the company a “hold” rating in a research note on Wednesday, April 17th. Raymond James reduced their price objective on shares of PacWest Bancorp from $48.00 to $45.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 17th. Zacks Investment Research lowered shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. BidaskClub upgraded shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Finally, Stephens restated a “buy” rating and set a $43.00 price objective on shares of PacWest Bancorp in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. PacWest Bancorp has an average rating of “Hold” and a consensus price target of $46.11.

Shares of PACW stock opened at $38.41 on Wednesday. PacWest Bancorp has a 52 week low of $31.16 and a 52 week high of $55.86. The company has a market capitalization of $4.49 billion, a PE ratio of 10.32, a P/E/G ratio of 0.99 and a beta of 1.53. 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 (NASDAQ:PACW) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.01. PacWest Bancorp had a net margin of 34.47% and a return on equity of 9.58%. The firm had revenue of $285.94 million during the quarter, compared to analyst estimates of $291.86 million. During the same period in the previous year, the business posted $0.93 earnings per share. Equities research analysts anticipate that PacWest Bancorp will post 3.8 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.25%. PacWest Bancorp’s dividend payout ratio is presently 64.52%.

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PacWest Bancorp 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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