Shares of First Republic Bank rose 5% on Thursday as they drew the attention of bargain-hunting retail investors, but still hovered near record-low levels on lingering fears about the future of the U.S. regional lender.
First Republic's shares have lost nearly 90% of their value this month, the worst performing stock among the members of S&P 1500 regional banks indexdashed all hopes
that U.S. regulators would insure all consumer deposits through the end of the banking crisis, sending First Republic's stock down 15% on the day. After the rapid rise in interest rates led to a crisis in the U.S. and European financial sector, the Federal Reserve on Wednesday indicated it was on the verge of pausing further increases in borrowing costs.
"While the situation remains highly uncertain, our assessment is that these stresses should subside through the spring," said Citi Research economist Nathan Sheets in a note on Wednesday. "Over the next few months, pressures on U.S. midsize banks may occasionally flare up, and some additional institutions may require interventions from the Fed and other regulators."
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Swedish pension fund Alecta dumps First Republic Bank shares after price plummetsSwedish pension fund Alecta lost around $728 million on its sale of shares in First Republic Bank, after losing money in the collapse of Silicon Valley Bank and Signature Bank.
Lire la suite »
Swedish pension fund Alecta sells its stake in First Republic BankAlecta, Sweden's biggest pension fund, has sold all its shares in ailing U.S lender First Republic Bank at a loss of $728 million, Alecta spokesperson Jacob Lapidus said on Tuesday.
Lire la suite »
First Republic's future to be discussed as major bank CEOs gather, sources sayMajor bank chief executives are gathering in Washington for a two-day scheduled meeting starting on Tuesday, with the future of First Republic Bank to be discussed, sources familiar with the matter said.
Lire la suite »
First Republic's future to be discussed as major bank CEOs meet, sources sayMajor bank chief executives are gathering in Washington for a two-day scheduled meeting starting on Tuesday, with the future of First Republic Bank to be discussed, sources familiar with the matter said.
Lire la suite »
First Republic stock tumbles after hours as bank reportedly hires more advisersFirst Republic Bank stock dropped more than 15% in the extended session Tuesday after news that the troubled bank reportedly has hired advisers to review its...
Lire la suite »