FRC News and Press, FIRST REPUBLIC BANK From 04/30/23

2023-04-30 21:05:36 ET JPMorgan Chase ( NYSE: JPM ), PNC Financial Services ( NYSE: PNC ), and Citizens Financial Group ( NYSE: CFG ) were said to be among the banks that had submitted bids for First Republic ( NYSE: FRC ) by the Federal Deposit Insurance Cor...

2023-04-30 16:07:09 ET JPMorgan Chase & Co ( NYSE: JPM ) and PNC Financial Services Group Inc are reportedly interested in taking over their struggling peer First Republic Bank ( NYSE: FRC ). Deal could be announced tomorrow U.S. regulators led by the Federal Deposit...

2023-04-30 08:17:20 ET Summary First Republic Bank has been troubled since the March turmoil. First quarter results, and notably deposit outflows, seemed to have sealed the fate of the bank here. A zero pay-off for (common) equity holders seems most likely here. Earl...

2023-04-29 15:20:11 ET First Republic Bank’s ( NYSE: FRC ) collapse is imminent as the FDIC works to save the troubled back. On Friday, the FRC stock price ended the week at $3.51, which was lower than its all-time high of $225. Its market cap crashed to just $638 million, me...

2023-04-29 14:30:00 ET Update 2:30pm on April 29: Adds additional banks that may submit offers. For further details see: JP Morgan, PNC, Bank of America said bidding for First Republic - reports (update)

2023-04-29 10:00:55 ET Get ahead of the market by subscribing to Seeking Alpha's Stocks to Watch, a preview of key events scheduled for the coming week. The newsletter keeps you informed of the biggest stories set to make headlines, including upcoming IPOs, investor days, earnings reports a...

2023-04-29 08:43:06 ET Summary The First Republic preferred shares are down over -70% in the past week. Regulators are set to restructure FRC this weekend, either by taking it into receivership or creating a new bridge bank entity to be capitalized by another market player. In...

2023-04-29 06:45:00 ET Summary First Republic has lost 60% of its market value in the 3 days since it said $100 billion of deposits, or more than half, fled during the first 3 months of the year. The stricken lender might survive if a rival, or several, injected new equity. But wh...

2023-04-29 06:36:20 ET Summary We saw impressive earnings out of two major players in the AI space, Microsoft and Meta Platforms. We are observing opportunities in the financial space in the wake of the handful of bank failures in the US. Takeaways. Brian Dress, CF...

2023-04-29 04:00:00 ET Summary The S&P 500 EPS upside surprise rate is way strong in Q1 ’23. There is only one sector that isn’t beating the estimates and that’s Real Estate with a -0.9% downside surprise rate. No question the bearish expectations head...