: PacWest stock plummets more than 50% after report of potential sale, other bank stocks join in decline


PacWest Bancorp PACW shares tumbled more than 50% in after-hours trading Wednesday, taking other bank stocks with it after a report that the company’s executives were weighing a possible sale.

The report, from Bloomberg News, adds to the concerns over the financial stability of regional banks, following the collapse in March of Silicon Valley Bank and Signature Bank, and the sale of First Republic Bank to JPMorgan Chase & Co. JPM this week. PacWest’s shares have been diving this week in the wake of First Republic’s collapse….

This article was originally published by Marketwatch.com. Read the original article here.

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