Western Alliance Bancorp stock up 10% after deposits grow; regional bank stocks climb

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Western Alliance Bancorp’s stock is up 10% in premarket trades Wednesday after it said its deposits have grown by $2 billion during the second quarter. As of...

Western Alliance Bancorp’s stock WAL is up 10% in premarket trades Wednesday after it said its deposits have grown by $2 billion during the second quarter. As of May 12, the bank said it had about $50 billion in deposits, up from $47.6 billion as of March 31, according to a filing late Tuesday. Western Alliance Bancorp is also nearing the completion of about 50% in sales of the $6 billion of loans reclassified to held-for-sale in the first quarter, as part of its balance sheet repositioning.

6 billion as of March 31, according to a filing late Tuesday. Western Alliance Bancorp is also nearing the completion of about 50% in sales of the $6 billion of loans reclassified to held-for-sale in the first quarter, as part of its balance sheet repositioning. Jefferies analyst Casey Haire reiterated a buy rating on Western Alliance and said the bank’s update reaffirms deposit stability.

 

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

Canada Canada Latest News, Canada Canada Headlines