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2023-03-24 20:39:29 ET Summary PacWest Bancorp released an important liquidity update on Wednesday. The market unfairly dismissed it and sent shares of PACW lower by 17%. Investors appear to be more focused on the FED’s rate increases, but a new buying opportunity has b...
2023-03-24 04:52:34 ET "Looking ahead, the longer that financial conditions remain tight, the greater the risk that stresses spread beyond the banking sector, unleashing greater financial and economic damage than we anticipated," Moody's wrote in its latest global credit conditions repo...
2023-03-22 20:56:25 ET Summary As expected, the FOMC raised rates by 0.25% at their meeting this week, bringing the Fed funds rate to a range of 4.75% to 5.00%. The decision was unanimous, and the Fed signaled one more hike to follow. However, this almost certainly isn't enoug...
2023-03-22 12:37:03 ET Shares of PacWest Bancorp (NASDAQ: PACW) traded roughly 10% lower as of 12:08 p.m. ET on Wednesday after the bank provided an update on deposit flows and announced that it would not pursue a capital raise, despite exploring the idea. PacWest has been one o...
2023-03-22 11:25:03 ET Summary PacWest Bancorp's non-cumulative preferred shares currently offer a double-digit yield on cost of 12%. They're trading for 64 cents on the dollar with a move back to par likely towards the end of the first half of next year. PacWest's banking ope...
2023-03-22 10:22:23 ET Summary Western Alliance Bancorporation’s market cap has declined by about half in the last 9 trading days. The community bank attracted a 5.4% investment from hedge fund Citadel at the beginning of the crisis. The Western Alliance Bancorporation ...
2023-03-22 09:32:11 ET Pacific Western Bancorp's ( NASDAQ: PACW ) stock dropped 9.8% in Wednesday premarket trading after the company said it explored a capital raise with potential investors but decided against moving forward with it due to current volatility and depressed ...
LOS ANGELES, March 22, 2023 (GLOBE NEWSWIRE) -- Pacific Western Bank (the “Bank”), the primary subsidiary of PacWest Bancorp (NASDAQ: PACW) (the “Company”), today issues the following update regarding its financial strength, including liquidity and deposits, as well as...
2023-03-22 06:53:44 ET Summary PacWest is a bank holding company with over $41 billion in assets headquartered in Los Angeles, California. PACWP is the Series A preferred shares from PacWest. The preferred shares are currently priced at $13/share versus a $25/share liquidation...
2023-03-21 12:07:11 ET Shares of several regional banks rose today as financial institutions struggling in the wake of the Silicon Valley Bank meltdown continued to try and work through their issues. Regulators also made more supportive comments this morning. First Republic 's (NY...
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Combined bank emerges as the third-largest bank headquartered in California and one of the nation’s premier relationship-focused business banks Banc of California, Inc. (“Banc of California”) (NYSE: BANC) today announced the completion of its transformational merger...