PacWest Bancorp led a relief rally across regional banks on Monday, when shares were up 21% just after the opening bell. Late Friday, the bank’s dividends were cut to just one penny per share…
Teetering regional lender PacWest Bancorp saw its shares jump as much as 24% on Monday to lead a recovery in the battered US banking sector.
PacWest CEO Paul Taylor reassured investors after the Friday announcement that “business remains fundamentally sound.” The bank shares spiked 24% after Monday’s opening bell, but dipped to a 10% spike at 11 am ET. The stock remains down roughly 75% year to date.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pacwest Bancorp Declares $0.01 Quarterly Dividend; 0.7% Yield By Investing.com*PACWEST BANCORP SLASHES QUARTERLY DIVIDEND BY 95% TO $0.01, CITING BANK TURMOIL $PACW
Read more »
PacWest leads regional bank rally. Berkshire Hathaway, Dish, AMC and other stocks on the move.PacWest leads regional bank rally, Berkshire Hathaway, Dish, AMC and other stocks on the move
Read more »
Regional banks rebound for a second day as PacWest cuts dividend, says business 'fundamentally sound'PacWest Bankcorp led a relief rally in regional banks on Monday, after the struggling lender slashed dividend to build capital amid the banking crisis.
Read more »
U.S. stocks limp higher at open as regional-bank shares recoverU.S. stocks opened marginally higher on Monday as investors focused on a recovery in stocks of regional lenders including PacWest and other hard-hit names. The Dow Jones Industrial Average was essentially flat at 33,666:
Read more »
PacWest shares jump 12% in premarket after lender says it’s cutting dividendPacWest Bancorp shares rose 12% in premarket trade after the embattled lender late Friday said it was reducing its dividend. “Given current economic...
Read more »
Stocks making the biggest premarket moves: PacWest, Berkshire Hathaway, American Airlines, AMC and moreThese are the stocks posting the largest moves in the premarket.
Read more »