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PacWest Stock Climbs After Dividend Cut. Other Regional Banks Are Rising Too.

Por: MarketWatch Business May 08, 2023

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In Monday morning trading, shares of PacWest (ticker: PACW) were up 5%, to $6. (WAL) and (ZION) each rose 1%, compared with a fractionally down S&P 500. PacWest announced a quarterly cash dividend of 1 cent a share, down from 25 cents in the previous quarter, and added that the business remains “fundamentally sound.” For RBC Capital Markets analyst Jon Arfstrom, PacWest’s high payout ratio was a headwind to achieving its capital targets.... + full article



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