PacWest stock rises as it moves to the S&P SmallCap 600 from the S&P MidCap 400

PacWest Bancorp
PACW,
-4.36%
stock is up 2.9% in premarket trades Thursday after S&P Dow Jones Indices said the regional bank would be added to the S&P SmallCap 600 from the S&P MidCap 400 prior to the open of trading this coming Wednesday. Crane Co.
CR,
+0.64%
is replacing PacWest in the MidCap 400 on Tuesday. PacWest Bancorp will replace Nektar Therapeutics
NKTR,
-12.42%
in the S&P SmallCap 600. Meanwhile, Crane Holdings Co. is spinning off new Crane on April 4 and will change its name to Crane NXT Co. under the symbol CXT, and will remain in the S&P MidCap 400. PacWest stock has been in the spotlight in recent weeks amid speculation around the health of other regional banks after the demise of Silicon Valley Bank and Signature Bank.