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March 15, 2023First Republic Bank, PacWest Bancorp, Qurate Retail, Inc. and others have been slumping.
The leading indices are currently lower — Dow Jones drawing back 1.57% to 31,650. S&P 500 trades at 3,864 after losing 1.41%.
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 drops 16.34% since opening around $29.73 First Republic Bank is down to $33.16, after ending yesterday at $39.63. Overall, a 16.34% loss or $6.48 today. Current trading volume stands at 44.54 million; 415% higher than the 21-day average of 10.72 million. Looking back to Friday, January 13th, First Republic Bank disclosed to the market its decision to pay a dividend of 27 cents per share for all shareholders on record up until Thursday, January 26th. With the payment made on Thursday, February 9th, the decision means the firm's shareholders could obtain an annual dividend yield of 3.26% this year.
PacWest Bancorp drops 14.83% since opening around $11.06 PacWest Bancorp is down to $11.12, after ending yesterday at $13.05. Overall, a 14.83% loss or $1.94 today. Current trading volume stands at 33.61 million; 487% above the 21-day 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 9% for this year.
10 days of losses drag on for Qurate Retail
Qurate Retail drops 3.15% since opening around $1.03 Qurate Retail is down to $1.07, after ending yesterday at $1.11. Overall, a 3.15% loss or 3.5 cents today.
