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March 16, 2023
First Republic Bank, PacWest Bancorp, Qurate Retail, Inc. are currently leading the list of down-trending stocks.
Leading equity indices in the US declined as after dropping 0.87%, Dow Jones closed at 31,875. S&P 500 lost 0.7% and ended the session at 3,892.
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 | continues a 7 day decline; crashes 21.37% yesterday
After setting a $29.45 – $37.85 range, First Republic Bank closed the day 21.37% lower at $31.16. During yesterday's session, First Republic Bank toiled and struggled for upward momentum before closing at $31.16. By the close, the the wealth management company suffered a $8.47 or 21.37% loss. Daily trading volume (96.44 million shares) increased, making up 900% 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 3.47%.
After setting a $9.88 – $12.28 range, PacWest Bancorp closed the day 12.87% lower at $11.37. During yesterday's session, PacWest Bancorp toiled and struggled for upward momentum before closing at $11.37. By the close, the the multi-billion-dollar banking firm suffered a $1.68 or 12.87% loss. Daily trading volume (61.61 million shares) increased, making up 893% of the 21-day average (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 8.8% for this year.
| Qurate Retail | 48.82% (100 cents) depreciation over 10 days (10 cents per day average)
After setting a $1.03 – $1.11 range, Qurate Retail closed the day 2.7% lower at $1.08. During yesterday's session, Qurate Retail toiled and struggled for upward momentum before closing at $1.08. By the close, the the US media corporation suffered a 3 cents or 2.7% loss. The day's trading volume totalled 5.87 million shares — slightly below the 21-day average of 7.66 million.
