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NEW YORK ( TheStreet) -- PacWest Bancorp (Nasdaq: PACW) hit a new 52-week low Tuesday as it is currently trading at $16.04, below its previous 52-week low of $16.22 with 9,477 shares traded as of 9:44 a.m. ET. Average volume has been 225,900 shares over the past 30 days. PacWest has a market cap of $673.6 million and is part of the financial sector and banking industry. Shares are down 23.9% year to date as of the close of trading on Monday. PacWest Bancorp operates as the bank holding company for Pacific Western Bank that provides commercial banking products and services to small to medium size businesses, the owners and employees of those businesses, and households primarily in Southern California. The company has a P/E ratio of 34.2, below the average banking industry P/E ratio of 34.8 and above the S&P 500 P/E ratio of 17.7.