Cardinal Capital Management Ct buys $80,861,696 stake in PacWest Bancorp (PACW)

PacWest Bancorp (PACW) : Cardinal Capital Management Ct scooped up 213,369 additional shares in PacWest Bancorp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,968,875 shares of PacWest Bancorp which is valued at $80,861,696.PacWest Bancorp makes up approximately 3.88% of Cardinal Capital Management Ct’s portfolio.

Other Hedge Funds, Including , Lpl Financial added PACW to its portfolio by purchasing 11,990 company shares during the most recent quarter which is valued at $492,429.Parametric Portfolio Associates boosted its stake in PACW in the latest quarter, The investment management firm added 41,753 additional shares and now holds a total of 407,097 shares of PacWest Bancorp which is valued at $16,719,474. PacWest Bancorp makes up approx 0.03% of Parametric Portfolio Associates’s portfolio.Oppenheimerfunds boosted its stake in PACW in the latest quarter, The investment management firm added 2,247 additional shares and now holds a total of 12,243 shares of PacWest Bancorp which is valued at $502,820.Hightower Advisors boosted its stake in PACW in the latest quarter, The investment management firm added 22,281 additional shares and now holds a total of 30,459 shares of PacWest Bancorp which is valued at $1,250,951. PacWest Bancorp makes up approx 0.02% of Hightower Advisors’s portfolio. Her Majesty The Queen In Right Of The Province Of Alberta… sold out all of its stake in PACW during the most recent quarter. The investment firm sold 40,300 shares of PACW which is valued $1,651,897.

PacWest Bancorp closed down -0.18 points or -0.42% at $43.13 with 9,62,905 shares getting traded on Thursday. Post opening the session at $43.57, the shares hit an intraday low of $42.89 and an intraday high of $43.86 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 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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