PacWest Bancorp shares pared early gains on Monday, dragging down other U.S. regional banking stocks, as the Los Angeles-based lender's decision to slash its quarterly dividend failed to stem worries about its financial stability.
"Friday was a bit of a reprieve, but we continue to believe that equity manipulation, if unabated, presents a risk to the confidence needed for the U.S. banking system to function," Piper Sandler analyst Mark Fitzgibbon wrote in a note.
But hedge funds, which often engage in short selling, pushed back on Monday, saying in a letter to Gensler that a ban would be counterproductive. "Banning short selling will only increase market volatility, hurt price discovery, and delay a recovery in regional banks' prices," wrote Bryan Corbett, chief executive of the Managed Funds Association trade group.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
PacWest Bancorp adds to gains after cutting dividend to shore up capital By Investing.com*REGIONAL BANKS EXTEND RALLY AS PACWEST JUMPS AFTER SLASHING QUARTERLY DIVIDEND $PACW
Leer más »
Pacwest Bancorp Declares $0.01 Quarterly Dividend; 0.7% Yield By Investing.com*PACWEST BANCORP SLASHES QUARTERLY DIVIDEND BY 95% TO $0.01, CITING BANK TURMOIL $PACW
Leer más »
PacWest leads regional bank rally. Berkshire Hathaway, Dish, AMC and other stocks on the move.PacWest leads regional bank rally, Berkshire Hathaway, Dish, AMC and other stocks on the move
Leer más »
U.S. stocks limp higher at open as regional-bank shares recoverU.S. stocks opened marginally higher on Monday as investors focused on a recovery in stocks of regional lenders including PacWest and other hard-hit names. The Dow Jones Industrial Average was essentially flat at 33,666:
Leer más »
PacWest rallies on dividend cut to bolster capitalShares of PacWest Bancorp jumped 24% on Monday and led a recovery in the battered U.S. banking sector after the lender sharply cut its quarterly dividend to shore up its finances.
Leer más »
PacWest shares jump 12% in premarket after lender says it’s cutting dividendPacWest Bancorp shares rose 12% in premarket trade after the embattled lender late Friday said it was reducing its dividend. “Given current economic...
Leer más »