3 stocks endured heavy volumes amid market jump yesterday

First Republic Bank, Terminix Global Holdings, Inc., PacWest Bancorp had the highest volumes yesterday.

A quick recap of where the last trading session ended: Markets closed higher yesterday; Nasdaq closed the day at 11,717, having gained 2.48%. S&P 500 gained 1.76% and closed at 3,960.28.

Why trading volume matters?

Trading volume is simply the total number of shares traded including both buy and sell orders. If a stock has appreciated on high volume, it is more likely to be a sustained move compared to an appreciation with low volume. Typically, high volume trading sessions are considered significant occurrences and closely watched by traders.

Price action was mostly bullish yesterday with some stocks recording abnormally high trading volumes. Here's a recap:

First Republic Bank | 1,700% above rolling average

Trading volume was 180.67 million shares yesterday — beating the daily average by a mammoth 1,700%.

So far this year, the wealth management company has declined 74.35% while touching highs around $170.53 earlier this year. Trending downwards for around a month.

First Republic Bank discloses 27 cents per share dividend to be paid on Thursday, February 9th

Terminix | 482% higher than rolling average

Terminix had a compelling day yesterday, with 25.88 million shares traded helping the company surpass its average daily volume by 482%.

The residential and commercial pest control provider traded as high as $46.98 before shedding 13.91% lower over the past six months. On a negative trend for around 5 months.

PacWest Bancorp | 1,175% higher than rolling average

PacWest Bancorp rises 0.7% to close at $11.45 yesterday.

Yesterday's trading volume peaked at 81 million shares, thereby blitzing the daily average of 6.90 million by 1,175%.

— Average trading volume refers to a 21-day rolling average.