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Why PacWest Bancorp Stock Was Soaring on Wednesday

TheMotleyFool

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Why PacWest Bancorp Stock Was Soaring on Wednesday: https://g.foolcdn.com/editorial/images/725276/a-person-at-a-desk-smiling.jpg

PacWest Bancorp (NASDAQ: PACW) stock surged higher on Monday, up about 13.5% as of noon ET. It had been up as much as 22.8% in morning trading. The stock is trading at about $10.30 per share, down about 55% year to date.

The major indexes were mostly up on Monday. The S&P 500 was up 25 points (0.6%) and the Dow Jones Industrial Average had gained 319 points (1%). However, the Nasdaq Composite was down 3 points at the time of this writing.

Source Fool.com

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