Tag: WAL
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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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Megabank profits on tap after eventful Q2 of bank failures and climbing interest rates
[ad_1] JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. kick off second-quarter earnings season Friday after one of the choppiest three-month periods for the banking sector since the global financial crisis. Bank of America Corp. BAC, +0.46% and Morgan Stanley MS, +0.05% will provide their second-quarter updates on July 18, followed by…
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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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PacWest, Western Alliance stocks rise as Hovde Group calls ‘near bottom’ in sector after potential ‘market manipulation’
[ad_1] Hovde Group analysts on Friday said bank stocks offer a “rare entry point” as they called a potential bottom to the steep selloffs in the sector amid speculation about further bank failures despite updates from regional banks on deposit strength. “There is nothing new fundamentally occurring with bank system deposits (other than the already…
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Bank stocks’ volatility draws scrutiny for potential market manipulation: report
[ad_1] State and federal authorities are looking into the possibility of market manipulation behind recent volatility in bank stocks, according to a report Thursday. Reuters reported that the wild stock swings and increased short-selling activity for banks that have solid fundamentals, including sufficient capital, have drawn the attention of state and federal officials and regulators,…
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Bank stocks drop again as PacWest free fall ‘feeds that narrative’ of weakness despite a ‘fundamentally sound’ business
[ad_1] Western Alliance Bancorp, PacWest Bancorp and First Horizon Corp. posted steep losses Thursday as clouds hung over the banking sector a day after the U.S. Federal Reserve hiked interest rates by a quarter-point. First Horizon FHN dropped 36% after it said its merger with Toronto-Dominion Bank TD CA:TD would not close, some 15 months…