Pacwest Bancorp (NASDAQ:PACW).
Cardinal Capital Management LLC /ct reports that it bought 2,756 shares in quarter ending 09/30/2017 increasing its exposure to Pacwest Bancorp by 0.2%. Its position stood at $89,536,000 an increase of $6,883,000 according to the filing.
These firms have modified their investment in PACW. As of quarter end Eagle Boston Investment Management Inc had bought a total of 4,589 shares growing its holdings by 2.6%. The value of the investment in (PACW) went from $8,383,000 to $9,343,000 a change of $960,000 quarter to quarter. Great Lakes Advisors, LLC grew its investment by buying 21,353 shares an increase of 10.6%. Great Lakes Advisors, LLC claims 222,687 shares valued at $11,248,000. The total value of its holdings increased 19.6%.
As of the end of the quarter Raymond James & Associates had acquired 200,710 shares growing its stake by 26.6%. The value of the company’s investment in Pacwest Bancorp increased from $35,248,000 to $48,262,000 a change of 36.9% for the reporting period.
BMO Capital Markets lowered the price target on October 19 cutting the projection from $49.00 to $48.00 and stated a “Market Perform” rating.
On October 19 Piper Jaffray Companies maintained a company rating of “Buy” targeting a price of $54.00.
October 12 investment analysts at SunTrust Banks held the company rating at “Hold” with a current price target of $49.00.
The company is so far trading down since yesterday’s close of 44.94. Pacwest Bancorp currently has a P/E ratio of 15.15 and market capitalization is 5.78B. As of the latest earnings report the EPS was $2.96 with 128.94M shares presently outstanding.
Investors are a little more bullish on shares of the company lately if you consider the change in short interest. The company recorded a fall in short interest from September 29, 2017 to October 13, 2017 of -11.24%. Short shares decreased from 3,190,920 to 2,832,352 over that timeframe. The short-interest ratio increased to 5.0 and the percentage of shorted shares was 0.02% on October 13.