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PacWest shares jump after hours after the bank reports rising deposits in April

Shares of PacWest Bank have erased a decline of as much as 10% in regular trading hours after reporting deposit levels that were in line with estimates.The bank said deposits were $28.19B compared to $28.53B estimated by analysts. The company noted that deposits had risen by $700m since the end of the quarter.A big part of the worry in markets today was that deposit outflows at First Republic Bank meant they were widespread elsewhere but this report and others shows that's just not the case. Fir... Read More

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Posted: Apr 25 2023, 20:19

Author Name: forexlive

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