First Republic Bank, Terminix Global Holdings, Inc., PacWest Bancorp and others reached higher-than-usual trading volumes.
A quick recap of where the last trading session ended: Leading equity indices in the US rose as Nasdaq closed the day at 11,717, having gained 2.48%. S&P 500 closed the day at 3,960.28, having gained 1.76%.
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% higher than rolling average
Currently up $3.11 today, First Republic Bank is on course to break its six-day losing run. This year has been a gloomy one for the wealth management company after trading as high as $170.53 and going on to lose 74.35% of its value. On a negative trend for around a month. First Republic Bank has a market cap of $6.38 billion with an average daily volume of 10.72 million shares.
First Republic Bank outpaced its average daily trading volume (10.72 million) with 180.67 million shares traded yesterday.
Terminix | 482% higher than rolling average
Terminix outpaced its average daily trading volume (5.37 million) with 25.88 million shares traded yesterday.
The residential and commercial pest control provider traded as high as $46.98 before shedding 13.91% lower over the past six months. Trending downwards for around 5 months.
PacWest Bancorp | 1,175% higher than rolling average
Yesterday's trading volume peaked at 81 million shares, thereby blitzing the daily average of 6.90 million by 1,175%.
The multi-billion-dollar banking firm is now trading 16.62% above the significant low ($9.75) it slumped to 4 days ago. Pointing downwards for around a month.
PacWest Bancorp discloses 25 cents per share dividend to be paid on Tuesday, February 28th
— Average trading volume refers to a 21-day rolling average.