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March 19, 2023
First Republic Bank, PacWest Bancorp, Western Alliance Bancorporation are at the top of this list of down trending stocks.
Leading equity indices in the US declined as Dow Jones lost 1.19% and ended the session at 31,862. S&P 500 was down 1.1% before closing the session at 3,916.64.
What is a downtrend?
The perceived tendency of a price to move in a downward direction over time. A downtrend describes the price movement of a continously depreciative financial asset over a particular time frame. In a downtrend, each successive low and peak is lower than the ones found earlier in the trend. The downtrend is therefore composed of lower swing lows and lower swing highs.
| First Republic Bank | 81.31% ($88.95) depreciation over 7 days ($12.71 per day average)
After setting a $22.3 – $30 range, First Republic Bank closed the day 32.8% lower at $23.03. During Friday's session, First Republic Bank toiled and struggled for upward momentum before closing at $23.03. By the close, the the regional full-service bank suffered a $11.24 or 32.8% loss. Daily trading volume (139.67 million shares) increased, making up 1,300% of the 21-day average (10.72 million). First Republic Bank disclosed a quarterly dividend of 27 cents per share on Friday, January 13th that was paid on Thursday, February 9th to all shareholders of record up until Thursday, January 26th. Based on current prices, the company's decision thereby provides First Republic Bank investors with an annual dividend yield of 4.69%.
| PacWest Bancorp | 67.22% ($16.86) depreciation over 12 days ($1.41 per day average)
After setting a $9.05 – $10.67 range, PacWest Bancorp closed the day 18.95% lower at $9.28. During Friday's session, PacWest Bancorp toiled and struggled for upward momentum before closing at $9.28. By the close, the the bank holding company suffered a $2.17 or 18.95% loss. Daily trading volume (38.61 million shares) was above the current multiday average of 6.90 million. Also, the firm paid out a quarterly dividend of 25 cents per share on Tuesday, February 28th to all active shareholders as of Wednesday, February 15th. Eligible investors secured a quarterly dividend yield of 10.78% for this year.
After setting a $30 – $35.38 range, Western Alliance Bancorporation closed the day 15.14% lower at $31.32. During Friday's session, Western Alliance Bancorporation toiled and struggled for upward momentum before closing at $31.32. By the close, the the US bank suffered a $5.59 or 15.14% loss. Daily trading volume (23.92 million shares) was higher than the current multiday average of 4.82 million. Western Alliance Bancorporation disclosed a quarterly dividend of 36 cents per share on Monday, February 6th that was paid on Friday, March 3rd to all shareholders of record up until Friday, February 17th. Based on current prices, the company's decision thereby provides Western Alliance Bancorporation investors with an annual dividend yield of 4.6%.
