5 Worst Performing Bank Stocks in 2023

3. PacWest Bancorp (NASDAQ:PACW)

Year To Date Share Price Loss: 60.81%

PacWest Bancorp (NASDAQ:PACW) is a large California-based bank that provides a wide variety of banking services. It had a good second quarter as the earnings results managed to beat analyst EPS estimates. However, this was far from sufficient in reversing the share price drop from a peak of roughly $29 in February.

As of March 2023, 22 of the 943 hedge funds surveyed by Insider Monkey had invested in PacWest Bancorp (NASDAQ:PACW). Amy Minella’s Cardinal Capital is the largest shareholder out of these since it owns 3.6 million shares that are worth $35 million.

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