Regional banks are a type of financial institution that provide banking services to customers within a specific geographic area. These banks are often more focused on serving local communities and may specialize in working with small businesses or individuals in the region. With a range of banking products and services, regional banks offer a convenient option for those who prefer to work with a more localized financial institution.
Investing in regional bank stocks can offer investors the potential for growth and income. These stocks represent shares in companies that operate regional banks and can offer benefits such as regular dividends and potential capital appreciation. However, investors should be aware of the risks involved, such as changes in interest rates, regulatory changes, and economic conditions that could impact the overall health of the banking industry.
For those interested in regional bank stocks, there are several trending options to consider in today’s stock market. Keeping in mind the potential risks, investors may want to keep an eye on these stocks in the stock market today.
Regional Bank Stocks To Watch Right Now
- U.S. Bancorp (NYSE: USB)
- PacWest Bancorp (NASDAQ: PACW)
- First Republic Bank (NYSE: FRC)
U.S. Bancorp (USB Stock)
Starting off, U.S. Bancorp (USB) is a regional bank that operates in 26 states and offers a range of banking services to its customers, including personal and business banking, wealth management, and payment services.
Just last week, US Bancorp reported its most recent quarterly dividend. In detail, USB’s Board of Directors has approved a regular quarterly dividend of $0.48 per common share. This dividend will be payable on April 17, 2023, to shareholders of record on March 31, 2023. As a result, USB currently has an annual dividend yield of 5.27%.
Since the start of 2023, shares of USB stock have dropped by 18.32%. While, during Tuesday’s mid-morning trading session, USB stock is trading higher by 5.89% at $36.48 a share.
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PacWest Bancorp (PACW Stock)
Second, PacWest Bancorp (PACW) is another regional bank that operates primarily in California. In brief, the company offers a range of banking products and services to businesses and individuals. The company has a strong focus on commercial banking.
Last week, PacWest Bancorp’s primary subsidiary, Pacific Western Bank, issued a statement reaffirming its financial strength amidst elevated net deposit outflows, primarily in the Venture Banking business line, following the announcement of the closures of Silicon Valley Bank and Signature Bank. As of March 17, 2023, Pacific Western Bank has over $10.8 billion in available cash, which exceeds its total uninsured deposits.
Meanwhile, as of Tuesday’s mid-morning trading action, shares of PACW stock have recovered by 12.35%, currently trading at $11.55 a share.
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First Republic Bank (FRC Stock)
Last but not least, First Republic Bank (FRC) is a regional bank that focuses on providing personalized banking services to high-net-worth individuals, businesses, and non-profits. The company operates in several states across the United States.
On March 16, 2023, First Republic Bank reported that it would receive uninsured deposits totaling $30 billion from some of America’s largest banks, including Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo. The support from these banks indicates confidence in First Republic and its ability to continue providing exceptional service to its clients and communities.
Year-to-date, shares of FRC have fallen sharply by 87.04%. Though, on Tuesday morning, FRC stock has rebounded by 30.29% on the day so far, trading at $15.83 per share.
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