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Deep Dive: Banc of California is expected to keep leading regional banks higher as PacWest deal ignites sector – Vested Daily

Deep Dive: Banc of California is expected to keep leading regional banks higher as PacWest deal ignites sector

July 26, 2023

Banc of California Inc.’s proposed agreement to acquire PacWest Bancorp. helped send regional-bank stocks considerably higher on Wednesday. But even after a two-day increase of 12% for its shares, the acquiring bank remains the favorite name among analysts covering regional players in the U.S.

The merger agreement was announced after the market close on Tuesday, but the rumor mill had already sent Banc of California’s BANC stock up by 11% that day. Then on Wednesday, shares of PacWest Bancorp PACW shot up 27% to $9.76, which…

This post was originally published on Market Watch