First Mercantile Trust Co Lowers stake in PacWest Bancorp (PACW)

PacWest Bancorp (PACW) : First Mercantile Trust Co reduced its stake in PacWest Bancorp by 6.85% during the most recent quarter end. The investment management company now holds a total of 10,289 shares of PacWest Bancorp which is valued at $445,925 after selling 757 shares in PacWest Bancorp , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.PacWest Bancorp makes up approximately 0.06% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Advisory Services Network boosted its stake in PACW in the latest quarter, The investment management firm added 23 additional shares and now holds a total of 85 shares of PacWest Bancorp which is valued at $3,684.Chevy Chase Trust Holdings reduced its stake in PACW by selling 25 shares or 0.48% in the most recent quarter. The Hedge Fund company now holds 5,227 shares of PACW which is valued at $228,159.Private Asset Management Inc boosted its stake in PACW in the latest quarter, The investment management firm added 2,685 additional shares and now holds a total of 94,915 shares of PacWest Bancorp which is valued at $4,143,040. PacWest Bancorp makes up approx 0.70% of Private Asset Management Inc’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in PACW by selling 35,424 shares or 53.04% in the most recent quarter. The Hedge Fund company now holds 31,363 shares of PACW which is valued at $1,368,995. PacWest Bancorp makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.West Oak Capital reduced its stake in PACW by selling 559 shares or 59.22% in the most recent quarter. The Hedge Fund company now holds 385 shares of PACW which is valued at $16,805. PacWest Bancorp makes up approx 0.01% of West Oak Capital’s portfolio.

PacWest Bancorp closed down -0.12 points or -0.28% at $43.34 with 8,07,148 shares getting traded on Friday. Post opening the session at $43.44, the shares hit an intraday low of $42.93 and an intraday high of $43.56 and the price fluctuated in this range throughout the day.Shares ended Friday 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. PacWest Bancorp was Downgraded by Wells Fargo to ” Market Perform” on Oct 4, 2016. PacWest Bancorp was Initiated by JMP Securities to “Mkt Outperform” on Sep 16, 2016. 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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