In the second quarter of this year, Hennessy Advisors Inc. increased its ownership in PacWest Bancorp by 100.0%. According to their recent disclosure with the Securities and Exchange Commission (SEC), Hennessy Advisors Inc. now owns 300,000 shares of PacWest Bancorp’s stock, having purchased an additional 150,000 shares during this period. With these holdings, Hennessy Advisors Inc. accounts for approximately 0.25% of PacWest Bancorp’s total worth, amounting to $2,445,000 as per the most recent filing with the SEC.
PacWest Bancorp is a prominent financial services provider that has been making significant strides in the industry. In keeping with its commitment to deliver value to its shareholders, the company recently announced a quarterly dividend payment on Thursday, August 31st. Shareholders who were recorded on Tuesday, August 15th received a $0.01 dividend per share. The ex-dividend date was Monday, August 14th.
This dividend represents an annualized basis of $0.04 and yields a return of 0.51% for investors in PacWest Bancorp. Despite having a negative dividend payout ratio (DPR) of -0.38%, indicating that the company currently retains more earnings than it distributes as dividends, this move showcases a dedication to providing monetary returns to stockholders.
The decision by Hennessy Advisors Inc., alongside other investors who hold PacWest Bancorp’s shares, exemplifies confidence in the financial institution’s prospects and stability within the market.
In conclusion, Hennessy Advisors Inc.’s augmented holdings in PacWest Bancorp signify an acknowledgment of potential growth within the financial services sector while boosting investor confidence in cumulative returns through quarterly dividends paid by the company.
[bs_slider_forecast ticker=”KNF”]
Recent Hedge Fund and Institutional Investor Activity in PacWest Bancorp Sparks Interest and Varied Analyst Opinions on Stock
On September 26, 2023, new information emerged about the hedge funds and institutional investors who have been actively involved in PacWest Bancorp. Savior LLC and Exchange Traded Concepts LLC are among the companies that recently added to their stakes in the business. Meanwhile, Dark Forest Capital Management LP significantly boosted its position in PacWest Bancorp during the first quarter of this year, resulting in a substantial increase in the financial services provider’s stock value. Similarly, Quadrant Capital Group LLC and Nelson Van Denburg & Campbell Wealth Management Group LLC also acquired new positions in shares of PacWest Bancorp.
The involvement of these hedge funds and institutional investors is an interesting development for PacWest Bancorp. It highlights the continued interest from financial organizations in investing in this particular company. With a significant percentage of the stock now owned by hedge funds and other institutional investors, it is clear that there is confidence in PacWest Bancorp’s future prospects.
In light of these recent developments, numerous analysts have issued reports on PacWest Bancorp’s stock. Keefe, Bruyette & Woods downgraded their rating on the company from “outperform” to “market perform.” Similarly, Odeon Capital Group initiated coverage on PacWest Bancorp with a “hold” rating and set a target price on the stock. On the other hand, DA Davidson upgraded their rating on PacWest Bancorp from “neutral” to “buy.” Finally, Truist Financial lowered their price target for PacWest Bancorp’s stock. Considering all these ratings, it can be observed that opinions regarding PacWest Bancorp are varied among analysts.
Shares of PacWest Bancorp opened at $7.80 on September 26th. The company’s debt-to-equity ratio stands at 3.55 while its current ratio measures 1.02. Its quick ratio is slightly higher at 1.01. Furthermore, over a period of 50 days, the company’s stock has shown a simple moving average of $8.41, and over 200 days, it has displayed a simple moving average of $8.47. These figures provide valuable insights into PacWest Bancorp’s financial standing and the stability of its stock value.
Regarding its recent quarterly earnings data release, PacWest Bancorp reported an EPS (earnings per share) of $0.22 for the quarter ending July 25th, 2023. This exceeded the consensus estimate by $0.04, signaling positive growth for the company during that period. Moreover, PacWest Bancorp achieved a positive return on equity of 13.23%, demonstrating its ability to generate profit relative to shareholders’ investment. However, it is worth noting that the firm also had a negative net margin of 59.41%. The revenue generated during this quarter reached $228.82 million, surpassing the consensus estimate of $188.30 million.
As we conclude our analysis on PacWest Bancorp, it is important to consider these recent developments and analysts’ ratings when assessing the company’s future performance and potential for investment opportunities. It remains to be seen how these factors will impact PacWest Bancorp’s overall business strategy and growth in both short-term and long-term perspectives.