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NEW YORK ( TheStreet) -- The ex-dividend date for PacWest Bancorp (Nasdaq: PACW) is tomorrow, August 18, 2011. Owners of shares as of market close today will be eligible for a dividend of one cent per share. At a price of $16.20 as of 9:42 a.m. ET, the dividend yield is 0.2%. The average volume for PacWest has been 248,200 shares per day over the past 30 days. PacWest has a market cap of $610.5 million and is part of the financial sector and banking industry. Shares are down 24.8% year to date as of the close of trading on Tuesday. 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 30.9, below the average banking industry P/E ratio of 31.5 and above the S&P 500 P/E ratio of 17.7.