Not CTS-related. Bank crisis averted
Yellen announced this afternoon that ALL depositors will have access to ALL their money, both for Silicon Valley and Signature, a NY bank that was somewhat exposed to the crypto fantasy world.
Just what the market needed to hear.
My recovery pick would be PacWest Bancorp (PACW) a small Los Angeles bank with $41 Billion in assets according to ValueLine. They have about 122 million shares out. Was $45-$50 a year ago. Closed on Friday around $12.50. I think eps for 2023 are forecasted to be in the vicinity of $3.75 or thereabouts.