Gradient Investments buys $4,457,489 stake in PacWest Bancorp (PACW)

PacWest Bancorp (PACW) : Gradient Investments scooped up 35,657 additional shares in PacWest Bancorp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 13, 2016. The investment management firm now holds a total of 115,479 shares of PacWest Bancorp which is valued at $4,457,489.PacWest Bancorp makes up approximately 0.55% of Gradient Investments’s portfolio.

PacWest Bancorp opened for trading at $38.28 and hit $39.09 on the upside on Monday, eventually ending the session at $38.88, with a gain of 0.73% or 0.28 points. The heightened volatility saw the trading volume jump to 16,51,290 shares. Company has a market cap of $4,674 M.

Other Hedge Funds, Including , 1st Global Advisors boosted its stake in PACW in the latest quarter, The investment management firm added 1,028 additional shares and now holds a total of 7,846 shares of PacWest Bancorp which is valued at $302,856. PacWest Bancorp makes up approx 0.04% of 1st Global Advisors’s portfolio.Capstone Asset Management Co boosted its stake in PACW in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 7,908 shares of PacWest Bancorp which is valued at $305,249. PacWest Bancorp makes up approx 0.01% of Capstone Asset Management Co’s portfolio.Eagle Boston Investment Management Inc boosted its stake in PACW in the latest quarter, The investment management firm added 4,552 additional shares and now holds a total of 163,658 shares of PacWest Bancorp which is valued at $5,980,063. PacWest Bancorp makes up approx 0.84% of Eagle Boston Investment Management Inc’s portfolio.Creative Planning boosted its stake in PACW in the latest quarter, The investment management firm added 2,004 additional shares and now holds a total of 17,380 shares of PacWest Bancorp which is valued at $635,065. Chevy Chase Trust Holdings sold out all of its stake in PACW during the most recent quarter. The investment firm sold 5,197 shares of PACW which is valued $189,898.

On the company’s financial health, PacWest Bancorp reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 14, 2016. Analyst had a consensus of $0.71.Analysts expectations of $ 263.08.During the same quarter in the previous year, the company posted $0.61 EPS.

Many Wall Street Analysts have commented on PacWest Bancorp. Shares were Reiterated by FBR Capital on Apr 15, 2016 to “Outperform” and Lowered the Price Target to $ 48 from a previous price target of $50 .

PacWest Bancorp is a bank holding company. The Company’s business is to serve as the holding bank for its subsidiary Pacific Western Bank (Pacific Western or the Bank). It is a commercial bank that offers banking products and services including accepting demand money market and time deposits and originating loans and leases including an array of commercial real estate loans and commercial lending products. It operates in two segments: Community Banking which includes the operations of Pacific Western Bank excluding the CapitalSource Division and National Lending which includes the lending operations gained through the CapitalSource Inc. merger Pacific Western Equipment Finance and the CapitalSource Business Finance Group. The Bank offers products and services through its CapitalSource and Square 1 Bank divisions. The Square 1 Bank Division offers financial services focused on entrepreneurial businesses and their venture capital and private equity investors.

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