Guggenheim Capital LLC Has $373,000 Position in PacWest Bancorp (NASDAQ:PACW)

Guggenheim Capital LLC lowered its position in shares of PacWest Bancorp (NASDAQ:PACW – Get Rating) by 50.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,526 shares of the financial services provider’s stock after selling 16,810 shares during the quarter. Guggenheim Capital LLC’s holdings in PacWest Bancorp were worth $373,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas grew its holdings in PacWest Bancorp by 69.8% during the third quarter. Teacher Retirement System of Texas now owns 32,392 shares of the financial services provider’s stock valued at $732,000 after purchasing an additional 13,311 shares during the period. Great West Life Assurance Co. Can grew its holdings in PacWest Bancorp by 12.5% during the third quarter. Great West Life Assurance Co. Can now owns 84,197 shares of the financial services provider’s stock valued at $1,903,000 after purchasing an additional 9,360 shares during the period. Brandywine Global Investment Management LLC grew its holdings in PacWest Bancorp by 5.1% during the second quarter. Brandywine Global Investment Management LLC now owns 203,714 shares of the financial services provider’s stock valued at $5,431,000 after purchasing an additional 9,809 shares during the period. Cibc World Market Inc. grew its holdings in PacWest Bancorp by 20.0% during the second quarter. Cibc World Market Inc. now owns 26,532 shares of the financial services provider’s stock valued at $707,000 after purchasing an additional 4,422 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in PacWest Bancorp by 527.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 160,588 shares of the financial services provider’s stock valued at $3,629,000 after buying an additional 134,997 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

PacWest Bancorp Stock Performance

Shares of PACW stock opened at $12.35 on Monday. The company’s fifty day simple moving average is $25.98 and its 200-day simple moving average is $25.09. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.76. The firm has a market cap of $1.46 billion, a PE ratio of 3.65 and a beta of 1.46. PacWest Bancorp has a 12 month low of $12.21 and a 12 month high of $46.84.

PacWest Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Wednesday, February 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.10%. The ex-dividend date was Tuesday, February 14th. PacWest Bancorp’s dividend payout ratio (DPR) is currently 29.59%.

Insiders Place Their Bets

In other news, Director C William Hosler purchased 3,750 shares of the company’s stock in a transaction on Friday, February 3rd. The shares were purchased at an average cost of $26.48 per share, with a total value of $99,300.00. Following the completion of the transaction, the director now owns 3,750 shares of the company’s stock, valued at approximately $99,300. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of PacWest Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. Wells Fargo & Company lifted their price target on shares of PacWest Bancorp from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Monday, January 30th. Finally, Truist Financial lifted their price target on shares of PacWest Bancorp from $26.00 to $29.00 and gave the company a “hold” rating in a research note on Wednesday, February 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $32.67.

About PacWest Bancorp

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PacWest Bancorp is a bank holding company, which specializes in financial and banking solutions. It offers commercial banking services including real estate, construction, commercial loans, comprehensive deposit, and treasury management services to small and middle-market businesses through the Pacific Western Bank.