Baird Financial Group Inc. Has $974,000 Holdings in PacWest Bancorp (NASDAQ:PACW)

Baird Financial Group Inc. grew its holdings in shares of PacWest Bancorp (NASDAQ:PACWGet Rating) by 2.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,555 shares of the financial services provider’s stock after purchasing an additional 773 shares during the period. Baird Financial Group Inc.’s holdings in PacWest Bancorp were worth $974,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Steward Partners Investment Advisory LLC boosted its position in shares of PacWest Bancorp by 13,250.3% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 62,880 shares of the financial services provider’s stock worth $2,712,000 after acquiring an additional 62,409 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in shares of PacWest Bancorp by 4.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 109,049 shares of the financial services provider’s stock worth $4,703,000 after acquiring an additional 4,175 shares in the last quarter. Jackson Creek Investment Advisors LLC boosted its position in shares of PacWest Bancorp by 95.1% during the 1st quarter. Jackson Creek Investment Advisors LLC now owns 10,160 shares of the financial services provider’s stock worth $438,000 after acquiring an additional 4,953 shares in the last quarter. FDx Advisors Inc. boosted its position in shares of PacWest Bancorp by 15.2% during the 1st quarter. FDx Advisors Inc. now owns 5,804 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 766 shares in the last quarter. Finally, Securian Asset Management Inc. boosted its position in shares of PacWest Bancorp by 3.1% during the 1st quarter. Securian Asset Management Inc. now owns 10,730 shares of the financial services provider’s stock worth $463,000 after acquiring an additional 318 shares in the last quarter. Institutional investors and hedge funds own 91.56% of the company’s stock.

Analysts Set New Price Targets

PACW has been the topic of several analyst reports. DA Davidson reduced their price target on shares of PacWest Bancorp to $25.00 in a research report on Thursday, October 27th. StockNews.com started coverage on shares of PacWest Bancorp in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Truist Financial cut their target price on shares of PacWest Bancorp from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, October 4th. Royal Bank of Canada cut their target price on shares of PacWest Bancorp from $32.00 to $31.00 and set an “outperform” rating on the stock in a research report on Friday, October 21st. Finally, Stephens cut their target price on shares of PacWest Bancorp from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 27th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, PacWest Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

PacWest Bancorp Price Performance

PACW stock opened at $25.90 on Friday. The company has a fifty day moving average price of $24.45 and a 200-day moving average price of $27.11. The company has a market capitalization of $3.05 billion, a P/E ratio of 6.18 and a beta of 1.39. PacWest Bancorp has a 52-week low of $21.29 and a 52-week high of $51.81. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86.

PacWest Bancorp (NASDAQ:PACWGet Rating) last released its quarterly earnings results on Thursday, October 20th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.07). The business had revenue of $373.80 million for the quarter, compared to the consensus estimate of $380.82 million. PacWest Bancorp had a net margin of 32.92% and a return on equity of 14.07%. PacWest Bancorp’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.17 EPS. As a group, equities analysts expect that PacWest Bancorp will post 4.05 EPS for the current year.

PacWest Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Tuesday, November 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Monday, November 14th. PacWest Bancorp’s dividend payout ratio is presently 23.87%.

PacWest Bancorp Company Profile

(Get Rating)

PacWest Bancorp operates as the bank holding company for Pacific Western Bank that provides various 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 and venture-backed companies; and equipment-secured loans and leases.

Further Reading

Want to see what other hedge funds are holding PACW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PacWest Bancorp (NASDAQ:PACWGet Rating).

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

Receive News & Ratings for PacWest Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PacWest Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.