Regional bank stocks surge on positive updates from Western Alliance (NYSE:WAL)
TL;DR Summary
Regional bank stocks, including Western Alliance Bancorporation, PacWest Bancorp, and Metropolitan Bank Holding, rose in premarket trading after Western Alliance reported a $2B increase in deposits since the start of Q2, reaffirming the bank's deposit stability. Jefferies analyst Casey Haire believes the update demonstrates Western Alliance is distancing itself from recent industry turmoil and should be well received by the market. Other larger regional bank stocks also advanced.
Topics:business#deposits#finance#pre-market-trading#regional-banks#stock-market#western-alliance-bancorporation
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