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home / news releases / RNR - First Republic leads week's losers while Washington Federal climbs: Financials roundup


RNR - First Republic leads week's losers while Washington Federal climbs: Financials roundup

First Republic Bank ( NYSE: FRC ) was the top five biggest loser among financial stocks (with market cap exceeding $2B), falling 17.8% in the week ended October 14, after its better-than-expected Q3 earnings showed its net interest margins got hurt by by rising funding costs.

All five of the decliners lost ground in the past month, half, YTD, and year.

XP ( NASDAQ: XP ), a Brazilian investment bank, took the second slot, retreating 16.7% ;

Lufax Holding ( NYSE: LU ), a Chinese consumer financial services platform, dipped 12.1% ;

Payments giant PayPal ( NASDAQ: PYPL ), -10.8% , sunk after it was said to have retracted a policy that would have seen users fined $2,500 for spreading misinformation; and

Swiss lender Credit Suisse ( NYSE: CS ) slid 9.5% amid a number of negative catalysts, including coming under a DOJ tax probe and reportedly holding discussions with underwriters as it mulls over a capital raise .

For the top five biggest financial winners:

Regional bank Washington Federal ( NASDAQ: WAFD ) was the top dog, jumping 12.3% during the week, after its fiscal Q4 net interest income shot up;

Upstart ( NASDAQ: UPST ), which provides an AI-driven lending platform to banks, climbed 9.9% ;

Germany's Deutsche Bank ( NYSE: DB ), +8.5% , gained after its credit rating got raised at Moody's;

Chilean lender Itaú Corpbanca ( NYSE: ITCB ) rose 8.4% ; and

RenaissanceRe Holdings ( NYSE: RNR ) advanced 7.7% .

Earlier in the week, September CPI rose more than expected; core CPI pushed up to 40-year high .

For further details see:

First Republic leads week's losers, while Washington Federal climbs: Financials roundup
Stock Information

Company Name: RenaissanceRe Holdings Ltd.
Stock Symbol: RNR
Market: NYSE
Website: renre.com

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