South Coast bank sees 40 percent stock gain
Santa Barbara-based Pacific Capital Bancorp’s stock bolted up 40 percent Sept. 18, riding a trend of stocks across the board for the day.
Pacific Capital’s stock closed at $24.06 – up $6.92 from the start of Nasdaq trading that day. During the day, it rose as high as $25.21.
“There was no news specific to Pacific Capital Bank,” said Executive Vice President Debbie Whiteley. “Just look at the rest of the market today.”
Bank of America was up 12.4 percent to $30.58 per share while Wells Fargo rose 3.7 percent to close at $37.00 The Dow Jones Industrials rose 400 points on a volume of 2.4 million shares.