CUBI - Why Shares of PacWest Bancorp Customers Bancorp and Merchants Bancorp Are Rising This Week
2023-06-08 17:19:45 ET
Shares of several bank stocks moved higher this week as investors started to get more comfortable with the sector in the wake of the banking crisis.
Shares of PacWest Bancorp (NASDAQ: PACW) traded nearly 19% higher for the week as of the market close Thursday, according to data from S&P Global Market Intelligence . Meanwhile, shares of Customers Bancorp (NYSE: CUBI) traded roughly 10.4% higher, while shares of Merchants Bancorp (NASDAQ: MBIN) were up more than 11%.
While there's still plenty of uncertainty, investors seem to be buying bank stocks this week based on the fact that there hasn't been too much bad news around the banking sector recently, and deposit costs have been on the rise in May.
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Why Shares of PacWest Bancorp, Customers Bancorp, and Merchants Bancorp Are Rising This Week