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Western Alliance Bancorp. led a rebound in regional-bank stocks Wednesday after an analyst said the recent selloff on the heels of the distress sale of First Republic Bank to JPMorgan Chase & Co. was “irrational” given hard numbers from the bank on its relative stability.
Regional-bank stocks fell back from higher levels but mostly moved into positive territory after the U.S. Federal Reserve lifted interest rates by a quarter-point, as expected.
Western…
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