First Republic Bank (FRC) exploring potential $100bn in asset sales - Bloomberg

First Republic (FRC) Said To Weigh Up To $100 Billion In Asset Sales - Bloomberg

(Updated - April 25, 2023 12:47 PM EDT)

First Republic (FRC) is exploring divesting $50 billion to $100 billion of long-dated securities and mortgages as part of a broader rescue plan, according to Bloomberg, citing people with knowledge of the matter.

The sales would help reduce its asset-liability mismatch. Potential buyers,... More

White House, Fed & U.S. Treasury considering plans that could repair damage suffered at First Republic Bank (FRC) in early-March banking crisis - CNBC

White House, Fed & U.S. Treasury considering plans that could repair damage suffered at First Republic Bank (NYSE: FRC) in early-March banking crisis - CNBC

U.S. stocks are falling amid mixed earnings; First Republic shares sink

Investing.com -- U.S. stocks were under pressure amid mixed earnings and a new set of concerns about the banking sector after First Republic reported a sharp drop in first quarter deposits.

At 9:39 ET (13:39 GMT), the Dow Jones Industrial Average was down 19% or 0.1%, while the S&P 500 was down 0.4% and NASDAQ Composite was down 0.5%.

First... More

First Republic Bank (FRC) Plunges 29% To Trade At Record Low - Bloomberg

First Republic Bank Plunges 29% To Trade At Record Low - Bloomberg

First Republic, KPMG are sued for concealing bank's risks

By Jonathan Stempel

(Reuters) - First Republic Bank has been sued by shareholders who accused the beleaguered U.S. regional bank of concealing how rising interest rates threatened its business model by prompting an exodus of deposits.

The lawsuit filed late Monday in San Francisco federal court accused First Republic and its auditor KPMG of misrepresenting the strength of the bank's balance sheet and liquidity.

It was filed about three hours after First Republic startled investors by disclosing it had lost $102 billion, or 58%, of... More

Citi Resumes First Republic Bank (FRC) at Sell

Citi analyst Arren Cyganovich resumes coverage on First Republic Bank (NYSE: FRC) with a Sell rating and a price target of $11.00.

The analyst comments "First Republic lost over $100B of deposits excluding the $30B it received from large banks. The high cost... More

PepsiCo, McDonald's and Spotify rise premarket; First Republic slumps

Investing.com -- Stocks in focus in premarket trade on Tuesday, April 25th. Please refresh for updates.

First Republic Bank (NYSE: FRC) stock slumped 21% after the regional lender saw $100 billion in customer withdrawals last month, fuelling concerns that it will need to offload its mortgage portfolio at a heavy loss to cover the... More

Maxim Group Downgrades First Republic Bank (FRC) to Hold

Maxim Group analyst Michael Diana downgraded First Republic Bank (NYSE: FRC) from Buy to Hold.

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 $16.00 yesterday.

Janney Downgrades First Republic Bank (FRC) to Sell

Janney analyst Tim Coffey downgraded First Republic Bank (NYSE: FRC) from Neutral to Sell with a price target of $8.00.

For an analyst ratings summary and ratings history on First Republic Bank... More

First Republic Bank (FRC) PT Lowered to $13 at Piper Sandler

Piper Sandler analyst Andy Liesch lowered the price target on First Republic Bank (NYSE: FRC) to $13.00 (from $15.00) while maintaining a Neutral rating.... More

First Republic Bank (FRC) PT Lowered to $15 at Barclays

Barclays analyst Jason Goldberg lowered the price target on First Republic Bank (NYSE: FRC) to $15.00 (from $17.00) while maintaining a Equalweight rating.... More

Increasing unusual put option volume: FOXA RILY SGEN ICLN TUR ELF PACW FRC

Increasing unusual put option volume: FOXA RILY SGEN ICLN TUR ELF PACW FRC

After-hours movers: First Republic sinks as deposits plunge, Whirlpool gains on 'beat'

After-Hours Stock Movers:

Medpace Holdings (NASDAQ: MEDP) 21% HIGHER; reported Q1 EPS of $2.27, $0.45 better than the analyst estimate of $1.82. Revenue for the quarter came in at $434.1 million versus the consensus estimate of $401.83 million. Medpace Holdings sees FY2023 revenue of $1.75-1.81 billion, versus the consensus of $1.71 billion.

First Republic Bank (NYSE: FRC) 20% LOWER; deposits plunged by over $100 billion and the company plans to cut its workforce by 20-25%.

Aaron's (NYSE:... More

First Republic tumbles 21% on mixed results amid deeper deposit outflows; Eyes job cuts

(Updated - April 25, 2023 5:37 AM EDT)

Investing.com -- First Republic reported Monday mixed first-quarter results and announced plans to slash its workforce by at least a fifth as the midsize American lender suffered a deeper-than-expected drop in deposit levels after customers raced to pull funds following the recent banking turmoil.

First Republic Bank (NYSE: FRC)... More

First Republic Bank deposits tumble more than $100 billion as it explores options

By Mehnaz Yasmin and Nupur Anand

(Reuters) -First Republic Bank shares sank more than 20% after the closing bell on Monday as it said deposits plunged by more than $100 billion in the first quarter and it was exploring options such as restructuring its balance sheet.

The deposit slump overshadowed profits that beat expectations for the beleaguered company, shored up through deposits from U.S. banking giants last month after two regional lenders collapsed.

San Francisco-based First Republic plans to shrink its balance sheet and slash expenses by cutting executive compensation, paring back office space, and laying off nearly... More

Stock market today: Dow ekes out win ahead of earnings from big tech

Investing.com -- The Dow eked out a gain Monday, as investors awaited further catalysts for direction just as the countdown to the moment of truth for big tech earnings due later this week gets underway.

The Dow Jones Industrial Average was up 0.2%, or 66 points higher, the S&P 500 was up 0.1%, and the Nasdaq fell 0.3%.

Alphabet Inc (NASDAQ: GOOGL) and Microsoft (NASDAQ: MSFT) are set to kick off a slew of earnings for big tech, which led the market melt-up seen in the... More

First Republic Bank (FRC) to Cut 20-25% Staff in Q2

First Republic Bank (FRC) to Cut 20-25% Staff in Q2

First Republic Bank (FRC) Tops Q1 EPS by 26c, Pursuing Strategic Options

First Republic Bank (NYSE: FRC) reported Q1 EPS of $1.23, $0.26 better than the analyst estimate of $0.97. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.22 billion.

Recent Industry Events

The recent industry events, beginning in March 2023, have impacted the Banks funding sources.

As of March 9, 2023, total deposits were $173.5 billion, down 1.7% from year-end 2022. On March 10, 2023, following the highly public closure of a large regional bank, First Republic began experiencing unprecedented deposit outflows.

On March 16, 2023, First Republic received uninsured deposits totaling $30 billion from a group of... More

First Republic Bank (FRC) Deposits At End-period $104.47b, Est. $136.67b

First Republic Deposits At End-period $104.47b, Est. $136.67b