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NEW YORK ( TheStreet) -- PacWest Bancorp (Nasdaq: PACW) hit a new 52-week high Thursday as it is currently trading at $24.84, above its previous 52-week high of $24.80 with 35,202 shares traded as of 11:05 a.m. ET. Average volume has been 184,700 shares over the past 30 days. PacWest has a market cap of $898.1 million and is part of the financial sector and banking industry. Shares are up 29.3% year to date as of the close of trading on Wednesday. PacWest Bancorp operates as a bank holding company for Pacific Western Bank that provides commercial banking products and services to small to medium size businesses, and the owners and employees of those businesses primarily in Southern California. The company has a P/E ratio of 17.6, below the average banking industry P/E ratio of 19.6 and below the S&P 500 P/E ratio of 17.7.