PacWest Stock Jumps, Building on Gains

Shares of PacWest are surging again, with other regional banks also advancing, and building on yesterday's gains. PacWest's stock was up 11% in morning trading, after rising 20% Monday following its announcement that it would sell a $2.6 billion property-loan portfolio. Shares are still down about 70% from early March. The California-based lender has been among the hardest hit regional banks following the collapse of Silicon Valley Bank and Signature Bank in March. Its shares are still down about 70% from before those bank failures. Shares of Western Alliance, Bank...