News Formal

PacWest, Western Alliance stocks rise, while KeyCorp loses ground

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 97%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Bank stocks remain in the spotlight as Q2 results pour in from KeyCorp and others, while Western Alliance draws upbeat comments from analysts at Hovde

PacWest Bancorp stock was up 3% in premarket trades on Thursday, as upward momentum continued with most bank stocks.

KeyCorp’s second-quarter profit fell to $250... PacWest Bancorp stock was up 3% in premarket trades on Thursday, as upward momentum continued with most bank stocks. KeyCorp’s second-quarter profit fell to $250 million, or 27 cents a share, from $504 million, or 54 cents a share in the year-ago quarter. The results included 9 cents a share to build up allowances.Revenue fell 11% to $1.6 billion, below the analyst target of $1.62 billion.Hovde Group analysts reiterated their high-conviction outperform rating on the stock, and hiked their price target by $5 to $65 a share.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

TikTok introduces passkey login for iOS users and joins big tech companies into an allianceForgetting your password can be a real hassle, especially when you're in a rush to get something done. And let's not forget the frustration of being locked out of your social media account. Well, TikTok has some good news for its iOS users—it's rolling out passkeys for login.
Source: PhoneArena - 🏆 322. / 59 Read more »