Tag: Comerica Inc.
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Regional-bank stocks move up after PacWest deal suggests stabilization in sector
[ad_1] Regional-bank stocks rose Wednesday as hard-hit PacWest Bancorp agreed to be acquired by Banc of California in a sign that the hangover from bank failures earlier this year may be receding. “The implied take out price of $9.60 is higher than many estimated, with ‘[PacWest] resolution’ a net positive for the banking sector,” KBW…
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Regional bank crisis may be far from over, experts warn
[ad_1] The stock-market panic over the regional banks has subsided for now, but experts say that regulators should remain focused on shoring up the stability of the sector amid economic headwinds that could persist for years to come. Shares of regional banks like PacWest Bancorp Corp. PACW, +4.41% have rebounded in the past week following…
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Moody’s downgrades U.S. banks one notch as credit strength ebbs
[ad_1] Moody’s Investor Service has revised its outlook the U.S. banking sector by one notch as the sector faces higher interest rates, funding risks and less credit strength, on the heels of earnings updates from financial firms in recent days. Citing deterioration of the operating environment and pressure on profit margins, Moody’s late Friday cut…