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☆ Here's what analysts are saying after Western Alliance's latest update
▼ + stars: | 2023-05-17 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Analysts on Wall Street are optimistic on Western Alliance after the bank's latest deposit update. Shares of Western Alliance popped more than 9% in the premarket. The analyst has a $71 per share price target on Western Alliance, which represents about 125% upside from Tuesday's closing price of $31.59. WAL YTD mountain Western Alliance stock has broken out in recent days, gaining 15% in the last five trading sessions. His price target points to more than 100% upside over the next 12 months.

☆ Stock Market Today: Dow Rises 400 Points as Debt Ceiling Deal in Focus
▼ + stars: | 2023-05-17 | by ( ) www.wsj.com time to read: +2 min

Regional-bank shares are jumping after Western Alliance—a lender investors have worried about—gave a positive update on deposit growth. Its shares gained, along with those of PacWest, Comerica and Zions. On the housing front: Housing starts for April rose 2.2% on a monthly basis, beating expectations for a decline. The WSJ Dollar Index gained 0.3%, on pace to finish higher for the sixth session in the last eight trading days. Indexes in China fell, while Japan’s Nikkei 225 gained 0.8% to top 30000 for the first time since 2021.

☆ Major investors loaded up on regional bank stocks during a turbulent first quarter
▼ + stars: | 2023-05-16 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Einhorn's Greenlight Capital took small stakes in New York Community Bancorp and First Citizens Bancshares in the first quarter, with each bet worth about $20 million, according to a regulatory filing. New York Community Bancorp's subsidiary, Flagstar, acquired Signature Bank assets after that bank was shuttered , while First Citizens bought a large portion of Silicon Valley Bank assets . New York Community shares are up nearly 20% this year, while First Citizens' stock has jumped more than 68% on the year. 'Big Short' Burry of "Big Short" fame snapped up a slew of regional banks last quarter, including New York Community Bancorp , Capital One Financial , Western Alliance , PacWest Bancorp and Huntington Bancshares during the first quarter. To make matters more confusing, the conglomerate dumped its remaining stakes in Bank of New York Mellon and U.S. Bancorp .

Bank of America is jumping back on the Western Alliance Bancorp bandwagon. Analyst Ebrahim H. Poonawala resumed coverage on the bank with a buy rating. Bank of America dropped its rating on the stock as Western Alliance got caught up in the broader regional bank sell-off after the failure of Silicon Valley Bank and Signature Bank — which was then followed by the collapse of First Republic. Western Alliance shares have lost more than 58% over the past three months. WAL 3M mountain Western Alliance shares Poonawala noted that while Western Alliance "is not out of the woods yet," the bank's management has shown "remarkable execution thus far in navigating the post SVB turmoil."

☆ Why bank stocks are so unstable
▼ + stars: | 2023-05-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

New York CNN —The financial sector has been churning in rough water since the shocking collapse of Silicon Valley Bank in March. Bank insiders see this and have been buying up shares of regional lenders, according to a report by Timothy Coffey, an analyst at Janney Montgomery Scott. The Oracle of Omaha said he remains cautious about holding bank stocks and that he has reduced his own exposure to the sector. The S&P 500 financial sector, however, is down more than 12% over the same period. Economists were hoping that this year would bring better news, but instead 2023 brought the collapse of three US regional banks and a subsequent lending squeeze.

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.

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."

☆ Stocks making the biggest premarket moves: PacWest, Berkshire Hathaway, American Airlines, AMC and more
▼ + stars: | 2023-05-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Pacific Western Bank signage is displayed outside of bank branch in Beverly Hills, California on May 4, 2023. Check out the companies making the biggest moves in premarket trading:PacWest — The regional bank popped 39% in premarket trading, adding to its nearly 82% gain on Friday. American Airlines — Shares gained about 3% in premarket trading Monday after JPMorgan upgraded the stock to overweight from neutral. Viatris — Shares added 2.4% after the health-care stock topped earnings expectations and reaffirmed full-year guidance, despite a shortfall in revenue. Fortinet — The cybersecurity company added 3.3% after being upgraded to buy from neutral by Bank of America.

☆ Regional banks rebound for a second day as PacWest cuts dividend, says business 'fundamentally sound'
▼ + stars: | 2023-05-08 | by ( Yun Li | ) www.cnbc.com time to read: 1 min

PacWest Bankcorp led a relief rally in regional banks again on Monday, after the struggling lender slashed dividend to build capital amid the banking crisis. PacWest CEO Paul Taylor reassured investors that the bank's businesses remains "fundamentally sound." Other regional banks also rebounded for a second day. The SPDR S&P Regional Banking ETF (KRE) rose by 2.8% in premarket, following a 6.3% rally Friday. Western Alliance jumped 8% in premarket Monday after gaining 49% in the previous session, and Zions Bancorp rose 4% Monday.

The Labor Department's report showed non-farm payrolls increased by 253,000 last month, higher than economists' expectations of 180,000. "This is a strong report and shows that the labor market is resilient. "It's been a tough week for the stock market, the regional banking problems have raised the fear factor, but Apple earnings came in strong. The S&P 500 has gained nearly 6% so far this year, while the S&P 500 Banks index (.SPXBK) and KBW Regional Banking index (.KRX) have lost 17% and 31%, respectively. ET, Dow e-minis were up 222 points, or 0.67%, S&P 500 e-minis were up 33.5 points, or 0.82%, and Nasdaq 100 e-minis were up 87 points, or 0.67%.

JPMorgan made a bold call on Friday, upgrading three regional banks despite a renewed rout in the sector this week that the investment bank says is partly due to short sellers. "To this end, we believe a sell-off in regional banks has become a catalyst itself to cause further fear and selling pressure." The SPDR S & P Regional Banking ETF , down 15% through Thursday this week, was up 4% in premarket trading Friday. The banks that JPMorgan upgraded have been hit even harder than the broader sector. The regional bank stocks have fallen despite the fact that the companies reported lower deposit outflows than First Republic.

☆ Bank Stocks Bounce as Investors Rethink Economic Outlook
▼ + stars: | 2023-05-05 | by ( Joe Rennison | ) www.nytimes.com time to read: 1 min

A group of regional bank stocks that came under severe pressure on Thursday, stoking fears of a spiraling banking crisis, surged on Friday, at least partially alleviating those worries. The rebound came as the market was also bolstered by data on hiring deemed strong enough to soften concerns about a recession without prompting the Federal Reserve to tighten the screws on the economy further. PacWest soared nearly 80 percent, after falling over 50 percent on Thursday. Western Alliance’s share price rose more than 30 percent, also recouping a chunk of its drop the day before. The relief rally helped to lift the broader market, with the S&P 500 up 1.5 percent heading into the afternoon.

☆ Stocks making the biggest moves midday: Apple, Lyft, Carvana, VF Corp and more
▼ + stars: | 2023-05-05 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Lyft – Stock in the rideshare giant fell 21% on Friday, after reporting quarterly results a day earlier. Coinbase – Shares of the cryptocurrency platform rose 17% after Wedbush reiterated an outperform rating on the stock earlier on Friday. The company reported beats on quarterly results a day earlier, with a smaller-than-expected loss of 34 cents per share. Wells Fargo upgraded the stock to equal weight from underweight, saying green shoots for Vans were becoming harder to ignore. Lucid is set to report quarterly results on May 8, and analysts polled by FactSet forecast a loss of 39 cents per share.

☆ Analysts warn regional banks stocks are in a 'negative feedback loop' and detached from fundamentals
▼ + stars: | 2023-05-04 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The latest drop for regional bank shares is causing some Wall Street analysts to back away from their recommendations on the stocks, even if they still believe in the underlying fundamentals for the companies. Other regional banks also sold off, including a 19% drop for Western Alliance. The deposit update was not enough to reassure all Wall Street analysts about the health of regional banks, and there is concern that the drops in the stocks could reignite deposit flight. Meanwhile, RBC Capital Markets' analyst Jon Arfstrom stuck with his outperform rating on PacWest, but said only investors with strong stomachs should stick around. Western Alliance Another bank stock that has taken heavy loses in recent weeks is Western Alliance .

☆ Western Alliance denies ‘shameful’ report it’s the next bank for sale
▼ + stars: | 2023-05-04 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —Western Alliance Bank denied reports that it’s exploring a sale or has hired an advisor to explore strategic options. Shares of the regional bank tumbled 36% Thursday, slightly paring back its losses after plunging over 50% at one point on reports that the company is the regional bank latest to explore a potential sale. The Financial Times, citing two anonymous sources, reported Thursday that the Arizona-based bank is exploring strategic options. “This story is absolutely false, there is no truth to this,” a Western Alliance spokesperson told CNN in an email. Western Alliance is not exploring a sale, nor has it hired an advisor to explore strategic option.

☆ Stock Market Today: Dow Slips 300 Points on Bank Jitters; Fed Decision Weighs on Traders
▼ + stars: | 2023-05-04 | by ( ) www.wsj.com time to read: +2 min

As stock indexes slipped Thursday, PacWest's already battered shares fell by 52% in morning trading. The bank said it was talking to potential partners and investors, and would keep evaluating "all options to maximize shareholder value." Stock indexes fell ahead of a big earnings day, with Apple and other big companies on tap. The jitters follow the failures of Silicon Valley Bank, Signature Bank and, more recently, First Republic Bank. "The cumulative effect of these bank failures will take its toll both on financial-market conditions and prompt nervousness among the investment community," said Brian O’Reilly, head of market strategy at Mediolanum International Funds.

☆ Stocks making the biggest moves midday: PacWest, Western Alliance, Paramount Global & more
▼ + stars: | 2023-05-04 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Paramount Global — The media stock cratered more than 27% after the company slashed its dividend and reported earnings that fell short of analyst expectations. Paramount Global cut is dividend to 5 cents from 24 cents a share, marking its first reduction since 2009. PacWest , First Horizon , Western Alliance — Regional bank stocks were under heavy pressure again on Thursday. Royal Caribbean — The cruise line advanced 6% after the company beat Wall Street expectations for the quarter. The company reported a wider overall loss than expected due to tax expenses related to an IRS settlement.

☆ Western Alliance shares see wild swings as the bank denies report of possible sale that sparked 62% plunge
▼ + stars: | 2023-05-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Western Alliance Bank plunged as much as 62% on Thursday after the FT reported that the bank was exploring a potential sale. Western Alliance denied the report and said no sale was under consideration, helping the stock pare its losses to 32%. Regional banks have been embroiled in an ongoing crisis after the collapse of Silicon Valley Bank, Signature Bank, and First Republic Bank. Western Alliance Bank was swift to deny the report, helping its stock rebound and pare losses to 32%. But Western Alliance Bank said in a statement that the FT story is "categorically false."

☆ Stock Market Today: Dow Drops More Than 350 Points on Bank Jitters, Fed Rate Hike
▼ + stars: | 2023-05-04 | by ( ) www.wsj.com time to read: +2 min

The bank said it was talking to potential partners and investors, and would keep evaluating "all options to maximize shareholder value." The S&P 500 dropped 0.7%, while the Dow Jones Industrial Average slid 1.1% and the Nasdaq Composite gave up 0.3%. Western Alliance Bancorp was down 39% after the company denied a report that it was exploring strategic options, including a potential sale. First Horizon sank by 37% after its $13.4 billion sale to Toronto's TD Bank was called off. The jitters follow the failures of Silicon Valley Bank, Signature Bank and, more recently, First Republic Bank.

☆ Pressure grows for US regulatory intervention as bank rout deepens
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +4 min

"Investors are clearly continuing to focus on remaining players that are deemed the weakest," wrote UBS banking analyst Erika Najarian on Thursday. The Federal Deposit Insurance Corp. did not respond to a request for comment. Critics say increasing deposit insurance could encourage risk-taking, and note regulators have fewer tools to rescue banks following the 2008 financial crisis. The latest crisis began in March when runs on Silicon Valley Bank and Signature Bank led to their abrupt closures, leading depositors to move their cash to bigger banks. To stem the contagion, regulators took emergency steps to reimburse all customers at the two banks, while the Fed offered lenders additional liquidity.

☆ Treasury: US banks have 'substantial' liquidity, deposit flows are stable
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, May 4 (Reuters) - The U.S. Treasury Department on Thursday said it was continuing to monitor market developments amid sharp drops in the shares of regional lenders PacWest Bancorp <PACW.O and Western Alliance Bancorp (WAL.N), but deposit flows were stable. "We continue to closely monitor market developments," a Treasury official said. "The banking system has substantial liquidity and deposit flows are stable." Western Alliance's stock was down 58.2%, despite a statement from the bank saying it had no unusual deposit outflows and had adequate liquidity. First Republic was the third major casualty of the biggest crisis to hit the U.S. banking sector since 2008.

☆ Stocks making the biggest moves premarket: Starbucks, AMD, Pearson, PacWest & more
▼ + stars: | 2023-05-03 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in premarket trading. AMD — The semiconductor stock fell more than 7% in premarket trading after quarterly results a day earlier. PacWest's shares fell 4.6% in premarket trading after sliding nearly 28% on Tuesday. Biogen reported earnings last week, notching an adjusted $3.40 per share while analysts polled by StreetAccount forecasted $3.28. The online dating company reported first-quarter earnings that topped analysts estimates from Refinitiv after the bell Tuesday.

☆ Stocks making the biggest moves midday: CVS Health, Eli Lilly, Clorox, Yum and more
▼ + stars: | 2023-05-03 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

CVS cut its 2023 adjusted earnings guidance to a range of $8.50 to $8.70 per share from its previous projection of $8.70 to $8.90 per share. On Tuesday, the consumer products firm posted fiscal third-quarter adjusted earnings per share of $1.51 topped the $1.22 per share expected by analysts polled by Refinitiv. Revenue also beat, coming in at $1.91 billion versus the $1.82 billion expected by Wall Street. AMD also said it expects about $5.3 billion in sales in the current quarter, less than the $5.48 billion expected by Wall Street. Its adjusted earnings per share for the first quarter came in at $1.06, compared to the $1.13 expected, per Refinitiv.

☆ Stocks making the biggest moves midday: Uber, Chegg, Dell, PacWest, SoFi & more
▼ + stars: | 2023-05-02 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Uber — Shares of the ride-hailing giant jumped more than 8% after the company reported first-quarter revenue that beat analysts' expectations. Still, the company did beat expectations for the quarter and provide strong guidance. NXP Semiconductors — Shares of the chipmaker added more than 2% after the company beat analysts' expectations for first-quarter revenue and operating income. Revenue guidance for the second quarter was better than anticipated as well. The global bank also announced an upcoming $2 billion share buyback program and restored its quarterly dividend.

☆ Markets Sink on Fears About Banks and Weaker Economic Outlook
▼ + stars: | 2023-05-02 | by ( Joe Rennison | ) www.nytimes.com time to read: +1 min

Stocks slumped on Tuesday, as fears for the health of the financial sector after the collapse of First Republic Bank collided with broader anxiety over signs of a weakening economy. PacWest lost a third of its value in the first hour of trading, it’s worst single-day drop since the height of the bank turmoil in March. Western Alliance sank nearly 20 percent, while Comerica and Zions bank both suffered double-digit percentage declines. Oil prices fell sharply, too, as the prospects of an economic downturn would likely cut energy demand. The price of a barrel of Brent crude, the international benchmark, dropped to around $76, close to its lowest level for the year.

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