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Regional-bank stocks move up after PacWest deal suggests stabilization in sector

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The SPDR S&P Regional Banking ETF moves up by nearly 4% after PacWest agrees to be acquired by Banc of California.

Regional-bank stocks rose Wednesday as hard-hit PacWest Bancorp agreed to be acquired by Banc of California in a sign that the hangover from bank failures earlier this year may be receding.

The... Regional-bank stocks rose Wednesday as hard-hit PacWest Bancorp agreed to be acquired by Banc of California in a sign that the hangover from bank failures earlier this year may be receding. The SPDR S&P Regional Banking exchange-traded fund KRE moved up by 3.8%, with 136 of 139 equity components moving into positive territory.

 

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