FRC First Republic Bank

By Will Feuer

Shares of beaten-down regional banks jumped in premarket trading after investors sold the stocks off on Monday in the wake of the collapse of Silicon Valley Bank and Signature Bank.

Shares of First Republic Bank rose 21% to $37.83 in premarket trading Tuesday while shares of Western Alliance Bancorp shot up by 20%. PacWest Bancorp powered almost 34% higher in early trading, recovering from its 21% decline on Monday.

KeyCorp stock rose 15% and shares of Charles Schwab Corp. rose 8%. Zions Bancorp stock was up almost 11%. Big banks recovered, too, with Citigroup Inc. rising more than 2% in the premarket session and shares of Wells Fargo & Co. rising more than 3%.

The SPDR S&P Regional Banking ETF was almost 6% higher in early trading after it fell more than 12% on Monday.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

March 14, 2023 06:50 ET (10:50 GMT)

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