Fmr LLC cut its position in shares of PacWest Bancorp (NASDAQ:PACW) by 22.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,758,452 shares of the financial services provider’s stock after selling 1,061,660 shares during the period. Fmr LLC owned 3.13% of PacWest Bancorp worth $175,520,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in PacWest Bancorp by 1.4% during the second quarter. Vanguard Group Inc. now owns 10,032,383 shares of the financial services provider’s stock valued at $468,512,000 after purchasing an additional 136,352 shares in the last quarter. AlphaOne Investment Services LLC lifted its holdings in PacWest Bancorp by 6.4% during the second quarter. AlphaOne Investment Services LLC now owns 84,590 shares of the financial services provider’s stock valued at $3,950,000 after purchasing an additional 5,062 shares in the last quarter. Penn Capital Management Co. Inc. lifted its holdings in PacWest Bancorp by 191.7% during the second quarter. Penn Capital Management Co. Inc. now owns 106,690 shares of the financial services provider’s stock valued at $5,143,000 after purchasing an additional 70,109 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in PacWest Bancorp by 6.4% during the second quarter. D.A. Davidson & CO. now owns 51,720 shares of the financial services provider’s stock valued at $2,415,000 after purchasing an additional 3,102 shares in the last quarter. Finally, Pinebridge Investments L.P. lifted its holdings in PacWest Bancorp by 2.6% during the second quarter. Pinebridge Investments L.P. now owns 63,816 shares of the financial services provider’s stock valued at $2,980,000 after purchasing an additional 1,637 shares in the last quarter. 88.75% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have issued reports on PACW shares. Zacks Investment Research raised shares of PacWest Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, July 22nd. DA Davidson raised shares of PacWest Bancorp from a “neutral” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Thursday, September 7th. ValuEngine downgraded shares of PacWest Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub raised shares of PacWest Bancorp from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Finally, Raymond James Financial, Inc. decreased their price objective on shares of PacWest Bancorp from $59.00 to $55.00 and set a “strong-buy” rating on the stock in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $54.50.

Shares of PacWest Bancorp (NASDAQ PACW) opened at 48.57 on Thursday. PacWest Bancorp has a 12 month low of $41.10 and a 12 month high of $57.53. The firm has a market capitalization of $5.83 billion, a PE ratio of 16.77 and a beta of 1.62. The stock has a 50 day moving average of $46.42 and a 200-day moving average of $48.12.

PacWest Bancorp (NASDAQ:PACW) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.71 by $0.06. PacWest Bancorp had a net margin of 30.61% and a return on equity of 7.73%. The business had revenue of $277.76 million for the quarter, compared to analyst estimates of $272.57 million. During the same period in the previous year, the firm earned $0.68 EPS. On average, equities research analysts anticipate that PacWest Bancorp will post $2.94 EPS for the current fiscal year.

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About PacWest Bancorp

PacWest Bancorp is a bank holding company for Pacific Western Bank (the Bank). The Company is focused on relationship-based business banking to small, middle-market and venture-backed businesses. As of December 31, 2016, the Bank offered a range of loan and deposit products and services through 77 branches located throughout the state of California, one branch located in Durham, North Carolina, and several loan production offices located in cities across the country.

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Institutional Ownership by Quarter for PacWest Bancorp (NASDAQ:PACW)

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