PacWest Bancorp (NASDAQ:PACW) and Western Alliance Bancorporation (NYSE:WAL) shares are trading lower by 13.04% to $9.96 and 17.50% to $30.58, respectively, Friday morning.

Shares of several companies in the broader financial industry are trading lower on continued downward momentum in the sector amid volatility and stability concerns following multiple bank failures.

What's The Latest On Bank Stocks?

SVB Financial Group has filed a voluntary petition for a court-supervised reorganization under Chapter 11 in the United States Bankruptcy Court for the Southern District of New York to preserve value.

According to data from Benzinga Pro:

• PACW has a 52-week high of $46.76 and a 52-week low of $5.00
• WAL has a 52-week high of $89.26 and a 52-week low of $7.26