Atlantic Equities Downgrades First Republic Bank (FRC) to Neutral, 'lack of clarity and unprecedented uncertainty'

Wedbush Downgrades First Republic Bank (FRC) to Neutral

March 17, 2023 6:59 AM EDT

Wedbush analyst David J. Chiaverini downgraded First Republic Bank (NYSE: FRC) from Outperform to Neutral.

For an analyst ratings summary and ratings history on First Republic Bank click here. For more ratings news on First Republic Bank click here.

Shares of First Republic Bank closed at $34.27 yesterday.

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JPM reiterates First Republic Bank (FRC) as its Top Pick, sees 'considerable upside'

March 17, 2023 6:41 AM EDT

JPMorgan analyst Steven Alexopoulos reiterated an Overweight rating and the Top Pick designation on the embattled First Republic Bank (NYSE: FRC).

The analyst is growing increasingly more positive on FRC after the largest U.S. banks - Bank of America, Citigroup, JPMorgan, and Wells Fargo among others -... More

JPMorgan Reiterates Overweight Rating on First Republic Bank (FRC), Remains Top Pick

March 17, 2023 5:49 AM EDT

JPMorgan analyst Steven Alexopoulos reiterated an Overweight rating and lowers the PT to $62.00 (from $150.00) on First Republic Bank (NYSE: FRC).

The analyst comments "In the aftermath of a deposit run on SVB and then a run on Signature Bank, which triggered their collapses, fears of large outflows of uninsured deposits swept the bank industry. To this end, with 68% of First Republic s deposits being uninsured, which screens higher than our typical regional bank (at 49%), the stock has seen significant selling pressure. Along these lines, weve been waiting to assess the magnitude of... More

European stocks higher; sentiment surges on banking support

March 17, 2023 5:22 AM EDT

By Peter Nurse

Investing.com - European stock markets traded sharply higher Friday, with sentiment boosted by moves in both Europe and the United States to support under-pressure lenders, likely preventing a full-blown banking crisis.

At 05:00 ET (09:00 GMT), the DAX index in Germany traded 0.7% higher, the CAC 40 in France climbed 0.6% and the FTSE 100 in the U.K. rose 1%.

A number of large U.S. banks injected $30 billion in deposits into... More

First Republic shares tank almost 33% despite $30 billion support

March 17, 2023 4:00 AM EDT

By Medha Singh and Joice Alves

(Reuters) - Shares of First Republic Bank tumbled nearly 33% on Friday, leaving them down more than 80% in the past 10 sessions, despite a rescue package with $30 billion in deposits injected by large U.S. banks.

The beleaguered lender was in talks to raise money from other banks or private equity firms by selling new shares, the New York Times reported on Friday afternoon, citing three people with knowledge of the process. The bank could also negotiate to be sold, the report said. First Republic declined to comment.

Concerns about the bank's... More

First Republic Bank (FRC) 30-day option implied volatility at 268

March 17, 2023 3:23 AM EDT

First Republic Bank (NYSE: FRC) 30-day option implied volatility is at 268; compared to its 52-week range of 24 to 407.

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After-hours movers: First Republic resumes free-fall despite lifeline, FedEx surges on raised guidance

March 16, 2023 5:47 PM EDT

After-Hours Stock Movers:

First Republic Bank (NYSE: FRC) 25% LOWER; falls despite getting a $30 billion lifeline from the nation's largest banks today. Shares rose 10% intra-day.

Sarepta Therapeutics, Inc. (NASDAQ: SRPT)... More

Banks sought record Fed liquidity in wake of SVB collapse

March 16, 2023 4:44 PM EDT

By Michael S. Derby

NEW YORK (Reuters) -Banks sought record amounts of emergency liquidity from the Federal Reserve over recent days in the wake of the failure of Silicon Valley Bank and Signature Bank, which in turn helped undo months of central bank efforts to shrink the size of its balance sheet, Fed data showed on Thursday.

Banks took an all-time high $152.9 billion from the Fed's traditional lender-of-last resort facility known as the discount window as of Wednesday, while also taking $11.9 billion in loans from the Fed's newly created Bank Term Lending Program. The discount window jump... More

Large banks lead by Bofa, JPMorgan infuse First Republic with $30B in deposits

March 16, 2023 4:39 PM EDT

By Scott Kanowsky

Investing.com -- JPMorgan Chase&Co (NYSE: JPM) and Bank of America Corp (NYSE: BAC) lead a group of big banks injecting a dose of confidence in First Republic Bank (NYSE: FRC) in the form of $30 billion in deposits.

The move caps a wild day of stock swings for First Republic,... More

Stock market today: Dow rallies as major banks race to rescue First Republic

March 16, 2023 4:28 PM EDT

By Yasin Ebrahim

Investing.com -- The Dow closed higher Thursday, as reports major Wall Street banks pledged billions to rescue First Republic Bank , bringing calm to markets following days of turmoil. 

The Dow Jones Industrial Average gained 1.2%, or 371 points, the S&P 500 was up 1.8%, and the Nasdaq Composite added 2.5%.

First Republic Bank (NYSE: FRC) jumped 10% helping push the broader financials up more than 2% as a group of major Wall Street banks including Goldman Sachs,... More

Consumer sentiment, quarterly convergence, superhero debt: 3 things to watch

March 16, 2023 4:20 PM EDT

By Liz Moyer

Investing.com -- U.S. stocks surged in late trading after a group of large banks organized to bolster First Republic Bank (NYSE: FRC), whose stock had been pounded in recent days after the collapse of SVB Financials Silicon Valley Bank.

The Dow and S&P 500 were up... More

First Republic Bank (FRC) to suspend dividend

March 16, 2023 4:10 PM EDT

(Updated - March 16, 2023 4:13 PM EDT)

First Republic Bank (NYSE: FRC) announced:

The Bank is focused on reducing its borrowings and evaluating the composition and size of its balance sheet going forward. Consistent with this focus and during this period of... More

First Republic Bank (FRC) confirms it will receive uninsured deposits totaling $30 billion

March 16, 2023 4:07 PM EDT

First Republic Bank (NYSE: FRC), a leading private bank and wealth management company, today announced it will receive uninsured deposits totaling $30 billion on March 16, 2023 from Bank of America, Citigroup, JPMorgan Chase, Wells Fargo, Goldman Sachs, Morgan Stanley, Bank of New York Mellon,... More

JPMorgan (JPM) CEO Dimon Met Treasury Sec Yellen On First Republic Bank (FRC) Thursday - Bloomberg

March 16, 2023 3:49 PM EDT

JPMorgan (NYSE: JPM) CEO Dimon Met Treasury Sec Yellen On First Republic Bank (NYSE: FRC) Thursday - Bloomberg

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Joint Statement by the Department of the Treasury, Federal Reserve, FDIC, and OCC on First Republic Bank (FRC)

March 16, 2023 3:38 PM EDT

The following statement was released by Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, FDIC Chairman Martin J. Gruenberg, and Acting Comptroller of the Currency Michael J. Hsu:

Today, 11 banks announced $30 billion in deposits into First Republic Bank. This show of... More

First Republic receives $30 billion in deposits from big banks

March 16, 2023 3:28 PM EDT

(Reuters) - First Republic Bank has received $30 billion in deposits from several big banks including JPMorgan Chase & Co, Citigroup Inc and Morgan Stanley, the banks said in a statement on Thursday.

(Reporting by Niket Nishant in Bengaluru; Editing by Shounak Dasgupta)

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First Republic Bank (FRC) to Receive $30 Billion in Deposits from Major Banks

March 16, 2023 3:22 PM EDT

(Updated - March 16, 2023 3:29 PM EDT)

Bank of America, Citigroup, JPMorgan Chase and Wells Fargo announced today they are each making a $5 billion uninsured deposit into First Republic Bank. Goldman Sachs and Morgan Stanley are each making an uninsured deposit of $2.5 billion, and BNY Mellon, PNC Bank, State Street, Truist and U.S. Bank are each making an uninsured deposit of $1 billion, for a total... More

First Republic Bank (FRC) halted again on volatility, off mid-day highs at up 4%

March 16, 2023 1:36 PM EDT

First Republic Bank (NYSE: FRC) halted again on volatility with shares sharply off the lows, but also off the mid-day highs

last up 4.3% after being down as much as 35% earliermoments ago, reports surfaced First Republic Bank is poised to get $30... More

First Republic Bank (FRC) halted again on volatility, last up 11%

March 16, 2023 1:30 PM EDT

First Republic Bank (NYSE: FRC) halted again on volatility with shares sharply off the lows:

last up 10.6% after being down as much as 35% earliermoments ago, reports surfaced First Republic Bank is poised to get $30 billion in deposits from... More

First Republic Bank (FRC) halted again on volatility, last up 7%

March 16, 2023 1:21 PM EDT

First Republic Bank (NYSE: FRC) halted again on volatility with shares sharply off the lows, but consolidating some gains:

last up 6.7% after being down as much as 35% earliermoments ago, reports surfaced First Republic Bank is poised to get $30 billion in... More

First Republic Bank (FRC) halted again on volatility, last up 15%

March 16, 2023 1:14 PM EDT

First Republic Bank (NYSE: FRC) halted again on volatility with shares sharply off the lows, but consolidating some gains:

last up 15% after being down as much as 35% earliermoments ago, reports surfaced First Republic Bank is poised to get $30 billion in... More

First Republic Bank (FRC) halted again on volatility, last up 22%

March 16, 2023 1:08 PM EDT

First Republic Bank (NYSE: FRC) halted again on volatility with shares sharply off the lows:

last up 22% after being down as much as 35% earliermoments ago, reports surfaced First Republic Bank is poised to get $30 billion in deposits from banksCNBC... More

Regional and mega-banks are rallying on First Republic Bank bailout

March 16, 2023 1:05 PM EDT

Regional and mega-banks are rallying on news First Republic Bank is poised to get $30 billion in deposits from banks:

KRE up 5.6%XLF up 2.7%JPM up 2.7%... More

First Republic Bank (FRC) halted again on volatility, last up 10%

March 16, 2023 1:01 PM EDT

First Republic Bank (NYSE: FRC) halted again on volatility with shares sharply off the lows:

last up 10% after being down as much as 35% earliermoments ago, reports surfaced First Republic Bank is poised to get $30 billion in deposits from banksCNBC... More

First Republic Bank (FRC) halted again on volatility with shares sharply off the lows

March 16, 2023 12:56 PM EDT

First Republic Bank (NYSE: FRC) halted again on volatility with shares sharply off the lows:

last down 3.3% after being down as much as 35% earliermoments ago, reports surfaced First Republic Bank is poised to get $30 billion in deposits from banksCNBC... More

First Republic Bank (FRC) halted on volatility with shares sharply off the lows

March 16, 2023 12:53 PM EDT

First Republic Bank (NYSE: FRC) halted on volatility with shares sharply off the lows:

moments ago, reports surfaced First Republic Bank is poised to get $30 billion in deposits from banksJPMorgan and Morgan Stanley are said to be involved

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First Republic Bank (FRC) poised to get $30 billion in deposits from banks - Bloomberg

March 16, 2023 12:47 PM EDT

First Republic Bank (NYSE: FRC) poised to get $30 billion in deposits from banks - Bloomberg

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'Banking Crisis is Over', declares Odeon's Dick Bove

March 16, 2023 12:38 PM EDT

The banking crisis is "over" declares Odeon Capital bank analyst Dick Bove following reports JPMorgan Chase (NYSE: JPM) and Morgan Stanley (NYSE: MS) are putting together a consortium to assist First Republic Bank (NYSE:... More

First Republic shares fall despite unprecedented Wall Street rescue deal

March 16, 2023 12:16 PM EDT

(This March 16 story has been refiled to correct a word in the quote in paragraph 7)

By Lananh Nguyen, Pete Schroeder, Andrea Shalal and Megan Davies

(Reuters) - First Republic Bank's shares fell 17% in extended trading on Thursday, despite an unprecedented show of support in the bank from nearly a dozen of the world's largest financial institutions.

In an unusual rescue that several sources said was orchestrated by JPMorgan Chase & Co Chief Executive Jamie Dimon earlier this week along with Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell, 11 Wall Street firms said they were depositing $30 billion into First... More

First Republic Bank (FRC) Executives Sold Stock Before Crash - WSJ

March 16, 2023 12:12 PM EDT

(Updated - March 16, 2023 12:13 PM EDT)

First Republic Bank (NYSE: FRC) Executives Sold Stock Before Crash - WSJ

Executives sold $12 million in shares while stock was above $120Bank insider sales were exempt from normal disclosure rules... More

US Pushes First Republic Bank (FRC) Rescue with Banks After Stock Slump - Bloomberg

March 16, 2023 12:09 PM EDT

(Updated - March 16, 2023 12:12 PM EDT)

US Pushes First Republic Bank (NYSE: FRC) Rescue with Banks After Stock Slump - Bloomberg

Could be announced as soon as Thursday... More

JPMorgan (JPM), Big US Banks Coordinate On First Republic (FRC) Rescue - WSJ

March 16, 2023 11:39 AM EDT

JPMorgan (NYSE: JPM), Big US Banks Coordinate On First Republic Rescue - WSJ

JPMorgan Working With Citigroup (NYSE: C), Bank of America (NYSE: BAC), Wells Fargo (NYSE:... More

JPMorgan, Morgan Stanley among banks in deal talks with First Republic - WSJ

March 16, 2023 11:14 AM EDT

(Reuters) -Several banks including JPMorgan Chase & Co and Morgan Stanley are in talks with First Republic Bank for a potential deal, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The deal could involve capital infusion to bolster the troubled lender after the collapse of SVB Financial last week triggered... More

First Republic Bank (FRC) Halted Again on Volatility, Off Low

March 16, 2023 10:56 AM EDT

First Republic Bank (NYSE: FRC) Halted Again on Volatility, Off Low

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JPMorgan, Morgan Stanley, Others in Talks to Bolster First Republic Bank (FRC) -- WSJ

March 16, 2023 10:50 AM EDT

(Updated - March 16, 2023 10:54 AM EDT)

JPMorgan (NYSE: JPM), Morgan Stanley (NYSE: MS) and several other big banks are discussing a potential deal with First Republic Bank (NYSE: FRC) that could... More

First Republic Bank (FRC) 30-day option implied volatility at 311

March 16, 2023 10:35 AM EDT

First Republic Bank (NYSE: FRC) 30-day option implied volatility is at 311; compared to its 52-week range of 24 to 407.

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First Republic Bank (FRC) sinks 34% on open

March 16, 2023 9:35 AM EDT

First Republic Bank (NYSE: FRC) sinks 34% at the open despite news it will weigh options, including a potential sale:

Investors worried that negative headlines could drive a run like SVBstock was downgraded at several credit reporting agenciesinvestors worried about the... More

Credit Suisse, Adobe, PagerDuty and Snap rise premarket; First Republic falls

March 16, 2023 8:12 AM EDT

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Thursday, March 16th. Please refresh for updates.

Adobe (NASDAQ: ADBE) stock rose 5.5% after the software company lifted its annual guidance after reporting better-than-expected fiscal first quarter results, driven by growth in its core... More

First Republic Bank considers strategic options, potential sale - Bloomberg

March 16, 2023 6:05 AM EDT

By Ambar Warrick

Investing.com -- Embattled U.S. lender First Republic Bank (NYSE: FRC) is exploring strategic options, including a potential sale as it faces a looming liquidity crunch, Bloomberg reported on Wednesday, citing sources close to the matter.

The bank is reportedly considering options to reinforce its liquidity position, and is expected to court... More

U.S. stocks mixed at close of trade; Dow Jones Industrial Average down 0.87%

March 15, 2023 5:34 PM EDT

Investing.com U.S. stocks were mixed after the close on Wednesday, as gains in the Utilities, Technology and Consumer Services sectors led shares higher while losses in the Oil&Gas, Basic Materials and Industrials sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average declined 0.87%, while the S&P 500 index lost 0.70%, and the NASDAQ Composite index added 0.05%.

The best performers of the session on the Dow Jones Industrial Average were Amgen Inc (NASDAQ: AMGN),... More

First Republic Bank (FRC) 30-day option implied volatility at 264

March 15, 2023 11:15 AM EDT

First Republic Bank (NYSE: FRC) 30-day option implied volatility is at 264; compared to its 52-week range of 24 to 407.

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Fitch Downgrades First Republic Bank (FRC) To "BB"; Ratings On Watch Neg

March 15, 2023 11:14 AM EDT

Fitch Downgrades First Republic Bank (NYSE: FRC) To "BB"; Ratings On Watch Neg

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First Republic Bank (FRC) Cut To Junk By S&P; On Watch Neg

March 15, 2023 9:19 AM EDT

First Republic Bank (NYSE: FRC) Cut To Junk By S&P; On Watch Neg

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