PacWest Stock Is Sliding, Banc Of California Shares Are Surging: What's Going On?
Portfolio Pulse from Ryan Gustafson
Banc of California, Inc. (BANC) and PacWest (PACW) are reportedly in advanced talks to merge, aiming to strengthen their businesses following the banking crisis earlier this year. The news has led to a surge in BANC shares and a decline in PACW shares. Both companies are set to report their Q2 earnings after the market close.
July 25, 2023 | 7:34 pm
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POSITIVE IMPACT
Banc of California's shares are trading higher due to the potential merger with PacWest. The company is expected to report Q2 earnings per share of 30 cents and revenue of $71.65 million.
The potential merger with PacWest is seen as a positive move for Banc of California, leading to a surge in its share price. The upcoming Q2 earnings report could further impact the stock's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
PacWest's shares are trading lower following the news of potential merger talks with Banc of California. The company is expected to report Q2 earnings per share of 20 cents and revenue of $51.36 million.
The potential merger with Banc of California has led to a decline in PacWest's share price. The upcoming Q2 earnings report could further impact the stock's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100