{"id":4474,"date":"2023-05-05T06:00:59","date_gmt":"2023-05-05T10:00:59","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/pacwest-leads-bank-stock-rebound-western-alliance-and-first-horizon-also-jump\/"},"modified":"2023-05-05T06:00:59","modified_gmt":"2023-05-05T10:00:59","slug":"pacwest-leads-bank-stock-rebound-western-alliance-and-first-horizon-also-jump","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=4474","title":{"rendered":"PacWest Leads Bank Stock Rebound. Western Alliance and First Horizon Also Jump."},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n<\/figure><\/div>\n

Shares of
\n PacWest
\n and other regional banks were advancing early on Friday after a week of precipitous drops.\u00a0<\/p>\n

PacWest (ticker: PACW) climbed 13.6% in premarket trading.
\n Western Alliance
\n (WAL) was up 9.6%.
\n Comerica
\n (CMA) rose 2.5%, and
\n Zions Bancorp\u00a0
\n (ZION) rose 3.4%. The SPDR S&P Regional Banking exchange-traded fund (KRE) increased 1.2%.<\/p>\n

\n

The collapse of
\n First Republic
\n (FRBK) on Monday turned investors\u2019 attention to other regional lenders that might have experienced similar problems. Stocks have been rocked by concerns that depositors are taking flight. PacWest shares dropped 50% on Thursday, despite the company saying that it hadn\u2019t seen any unusual deposit outflows since the collapse of First Republic at the start of the week.<\/p>\n

\u201cThere\u2019s no doubt that this is a nervous time for markets as we wait for the next series of resolutions in the U.S. regional banking crisis,\u201d said Deutsche Bank analyst Jim Reid. The \u201cscary thing is that the attacks are increasingly looking speculative but risk becoming self-fulfilling.\u201d<\/p>\n

It was hoped that
\n JPMorgan Chase
\n \u2018s (JPM) purchase of First Republic\u2019s assets on Monday would quell the market jitters, but they have only intensified since. On Wednesday, Federal Reserve Chairman Jerome Powell said the banking system is \u201csound and resilient.\u201d\u00a0<\/p>\n

Write to Brian Swint at brian.swint@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of PacWest and other regional banks were advancing early on Friday after a week of precipitous drops.\u00a0 PacWest (ticker: PACW) climbed 13.6% in premarket trading. Western Alliance (WAL) was up 9.6%. Comerica (CMA) rose 2.5%, and Zions Bancorp\u00a0 (ZION) rose 3.4%. The SPDR S&P Regional Banking exchange-traded fund (KRE) increased 1.2%. The collapse of […]<\/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-4474","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nPacWest Leads Bank Stock Rebound. 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