PacWest stock plunges over 50% in after-hours trading Wednesday


PacWest Bancorp PACW shares dove more than 50% in after-hours trading Wednesday, after a report that the company’s executives are looking at a possible sale. The regional bank’s shares have been diving this week after the collapse and sale of another regional bank in the western U.S., First Republic Bank, which was sold to JP Morgan Chase & Co. JPM Monday in a deal that netted shareholders nothing. Bloomberg News reported Wednesday afternoon that PacWest’s leaders were considering strategic alternatives of their own, which could include a sale, based on anonymous sources. Bloomberg reported that the bank has not found…

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