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NEW YORK ( TheStreet) -- The ex-dividend date for PacWest Bancorp (Nasdaq: PACW) is tomorrow, May 17, 2012. Owners of shares as of market close today will be eligible for a dividend of 18 cents per share. At a price of $24.15 as of 9:30 a.m. ET, the dividend yield is 3%. The average volume for PacWest has been 197,000 shares per day over the past 30 days. PacWest has a market cap of $886.9 million and is part of the financial sector and banking industry. Shares are up 25.5% year to date as of the close of trading on Tuesday. 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 19.5, above the average banking industry P/E ratio of 19.3 and above the S&P 500 P/E ratio of 17.7.