PacWest Bancorp (PACW) : Patriot Financial Partners Gp Lp reduced its stake in PacWest Bancorp by 9.26% during the most recent quarter end. The investment management company now holds a total of 1,470,265 shares of PacWest Bancorp which is valued at $60,471,999 after selling 150,000 shares in PacWest Bancorp , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.PacWest Bancorp makes up approximately 14.76% of Patriot Financial Partners Gp Lp’s portfolio.
Other Hedge Funds, Including , Stanley-laman Group Ltd. reduced its stake in PACW by selling 158,657 shares or 89.42% in the most recent quarter. The Hedge Fund company now holds 18,774 shares of PACW which is valued at $799,209. PacWest Bancorp makes up approx 0.30% of Stanley-laman Group Ltd.’s portfolio.Alps Advisors Inc reduced its stake in PACW by selling 800 shares or 6.85% in the most recent quarter. The Hedge Fund company now holds 10,872 shares of PACW which is valued at $450,753.Miller Howard Investments Inc Ny boosted its stake in PACW in the latest quarter, The investment management firm added 15,001 additional shares and now holds a total of 1,008,315 shares of PacWest Bancorp which is valued at $41,482,079. PacWest Bancorp makes up approx 0.72% of Miller Howard Investments Inc Ny’s portfolio.
PacWest Bancorp opened for trading at $41.88 and hit $42.34 on the upside on Wednesday, eventually ending the session at $41.95, with a gain of 0.17% or 0.07 points. The heightened volatility saw the trading volume jump to 4,78,297 shares. Company has a market cap of $5,051 M.
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.