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Search resuls for: "Niket Nishant Chibuike Oguh"


3 mentions found


☆ US regional bank shares rally after Western Alliance reports deposit growth
  + stars: | 2023-05-17 | by ( Niket Nishant Chibuike Oguh | Niket Nishant | Chibuike Oguh | ) www.reuters.com   time to read: +3 min
May 17 (Reuters) - Shares of U.S. regional lenders jumped on Wednesday on growing investor confidence that the worst of the banking crisis was likely over, following news of strong deposit growth at Western Alliance Bancorp (WAL.N). Arthur Hogan, chief market strategist at B. Riley Wealth, said Western Alliance's deposit growth disclosure was good news for worried investors. "Western Alliance, one of the most hard-hit banks, came out with a filing showing deposit increase. Western Alliance shares, which are down 41% year-to-date, surged 10% to $34.81, erasing losses recorded over the last two weeks. Other regional lenders closed higher: PacWest Bancorp (PACW.O), whose stock has lost nearly 76% of its value year-to-date, spiked 22%.
☆ PacWest shares pare gains after dividend cut fails to stem market fears
  + stars: | 2023-05-08 | by ( Niket Nishant Chibuike Oguh | Niket Nishant | Chibuike Oguh | ) www.reuters.com   time to read: +4 min
May 8 (Reuters) - PacWest Bancorp (PACW.O) shares pared early gains on Monday, dragging down other U.S. regional banking stocks, as the Los Angeles-based lender's decision to slash its quarterly dividend failed to stem worries about its financial stability. Other U.S. regional banks also retreated. REUTERS/Mike Blake/File Photo 1 2The KBW Regional Banking index (.KRX) fell 2.82% after gaining nearly 4.7%. But hedge funds, which often engage in short selling, pushed back on Monday, saying in a letter to Gensler that a ban would be counterproductive. Yellen said it is in the SEC's purview to regulate short selling although there is a high bar for any controls if evidence of market manipulation was found.
☆ PacWest pares gains after dividend cut fails to stem market fears
  + stars: | 2023-05-08 | by ( Niket Nishant Chibuike Oguh | Niket Nishant | Chibuike Oguh | ) www.reuters.com   time to read: +3 min
May 8 (Reuters) - PacWest Bancorp (PACW.O) shares pared early gains on Monday, dragging down other U.S. regional banking stocks, as the Los Angeles-based lender's decision to slash its quarterly dividend failed to stem worries about its financial stability. "The dividend cut is not a good sign," said Jamie Cox, managing partner at Harris Financial Group. Other U.S. regional banks also retreated. The KBW Regional Banking index (.KRX) fell 1.5% after gaining nearly 4.7%. "I have a general fear that smaller banks are going to disappear, and we're going to end up with just a few large banks."
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