{"id":13101,"date":"2023-05-24T08:53:05","date_gmt":"2023-05-24T12:53:05","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/pacwest-stock-rises-on-sale-of-real-estate-lending-unit\/"},"modified":"2023-05-24T08:53:05","modified_gmt":"2023-05-24T12:53:05","slug":"pacwest-stock-rises-on-sale-of-real-estate-lending-unit","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=13101","title":{"rendered":"PacWest Stock Rises on Sale of Real Estate Lending Unit"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000654044\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>Shares of<br \/>\n        PacWest Bancorp<br \/>\n       rose early on Wednesday after it agreed to sell its real estate lending unit to Roc360, a property focused bank.<\/p>\n<p>The stock added 7.7% to $7.95 in premarket trading. It\u2019s still down about 75% this year, but has rallied more than 30% over the past week.<\/p>\n<p>Regional lenders such as PacWest (ticker: PACW) have been in focus since the collapse of Silicon Valley Bank and First Republic.<\/p>\n<div class=\"paywall\">\n<p>Roc360 announced that it will buy PacWest\u2019s Civic Financial Services business, which lends to landlords and property investors. A year of aggressive interest-rate increases by the Federal Reserve mean real estate loans have been an area of concern.<\/p>\n<p>Roc360 didn\u2019t give the purchase price, but the disposal will benefit PacWest and boost confidence. Last week, PacWest announced the sale of $2.6 billion of loans.<\/p>\n<p>Write to Brian Swint at brian.swint@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/pacwest-stock-rises-real-estate-lending-c8a24e5d?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of PacWest Bancorp rose early on Wednesday after it agreed to sell its real estate lending unit to Roc360, a property focused bank. The stock added 7.7% to $7.95 in premarket trading. It\u2019s still down about 75% this year, but has rallied more than 30% over the past week. Regional lenders such as PacWest [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-13101","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PacWest Stock Rises on Sale of Real Estate Lending Unit | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of PacWest Bancorp rose early on Wednesday after it agreed to sell its real estate lending unit to Roc360, a property focused bank. 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