Markets by TradingView
First Republic Bank Slides Another 15% Premarket After Reports It’s Mulling A Possible Sale | Old North State Wealth News
Connect with us

Economy

First Republic Bank slides another 15% premarket after reports it’s mulling a possible sale

Published

2 weeks ago

on

First Republic Bank stock FRC tumbled another 15% in premarket trade Thursday, amid reports it’s exploring its strategic options, including a potential sale of the company. Bloomberg reported late Wednesday that the San Francisco-based bank, which has been caught up in the jitters sparked by the failure of Silicon Valley Bank last week and two other lenders, was downgraded into junk territory by S&P Global Ratings and Fitch Ratings on Wednesday, citing concerns about deposit flight to bigger banks perceived to be safer. A spokesperson for First Republic declined comment to MarketWatch. JP Morgan said early Thursday that…

Read the full article here

Related Topics:
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

Copyright © 2022 ONSWM News. Content posted on the Old North State Wealth News page was developed and produced by a third party news aggregation service. Old North State Wealth Management is not affiliated with the news aggregation service. The information presented is believed to be current. It should not be viewed as personalized investment advice. All expressions of opinion reflect the judgment of the authors on the date the articles were published. The information presented is not an offer to buy or sell, or a solicitation of any offer to buy or sell, any of the securities discussed.