PacWest Bancorp Stock Trading Halted: $PACW Plummets by 30% – What's Happening?

Share prices of regional lender PacWest Bancorp were down 33 percent on Tuesday morning, and stock trading was halted several times due to volatility. The Los Angeles-based PacWest Bancorp (NASDAQ:PACW) is facing intense pressure as investors react to concerns surrounding regional banks. The $PACW stock, trading, halted repeatedly today due to extreme volatility, is sinking significantly.

PacWestBancorp PACW stock trading halted volatility sinking 30percent: This dramatic downturn follows reports of significant deposit outflows. Shares of PacWest Bancorp tumbled Thursday after the regional bank reported that customers had recently drawn down about 9.5% of total deposits.

The bank’s PacWest Bancorp PACW shares tumbled 37% in premarket trade on Thursday, taking other bank stocks with it after a report that the company’s executives were weighing a possible sale. This news fueled further uncertainty and contributed to the trading halt.

PacWest Bancorp (NASDAQ:PACW) shares are facing heavy selling pressure after the close on Wednesday following reports the bank is weighing options. Shares of embattled lender PacWest Bancorp plummeted in extended trading Wednesday after a report indicated it has begun considering a possible sale.

The situation at a distressed California-based bank, PacWest Bancorp, has thrown the banking sector back into turmoil after falling more than 50%. The key question now is: Are contagion risks back on the horizon? We'll continue to provide updates on the latest PacWest Bancorp ($PACW) stock developments as they unfold.