PacWest Bancorp (PACW) : Channing Capital Management scooped up 64,051 additional shares in PacWest Bancorp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 1,742,423 shares of PacWest Bancorp which is valued at $71,421,919.PacWest Bancorp makes up approximately 2.87% of Channing Capital Management’s portfolio.
Other Hedge Funds, Including , Proficio Capital Partners boosted its stake in PACW in the latest quarter, The investment management firm added 90 additional shares and now holds a total of 911 shares of PacWest Bancorp which is valued at $37,670. PacWest Bancorp makes up approx 0.02% of Proficio Capital Partners’s portfolio.Eagle Asset Management Inc reduced its stake in PACW by selling 3,725 shares or 8.89% in the most recent quarter. The Hedge Fund company now holds 38,177 shares of PACW which is valued at $1,561,439. PacWest Bancorp makes up approx 0.01% of Eagle Asset Management Inc’s portfolio.
PacWest Bancorp closed down -0.11 points or -0.27% at $40.88 with 2,93,802 shares getting traded on Thursday. Post opening the session at $40.75, the shares hit an intraday low of $40.74 and an intraday high of $41.43 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
On the company’s financial health, PacWest Bancorp reported $0.68 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jul 15, 2016. Analyst had a consensus of $0.70.Analysts expectations of $ 266.01.During the same quarter in the previous year, the company posted $0.70 EPS.
Many Wall Street Analysts have commented on PacWest Bancorp. Shares were Reiterated by FBR Capital on Jul 18, 2016 to “Outperform” and Lowered the Price Target to $ 46 from a previous price target of $48 .
PacWest Bancorp is a bank holding company. The Companys 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.