$FRC
First Republic Bank
PRICE
$1.899 βΌ-45.897%
Extented Hours
VOLUME
176,848,332
DAY RANGE
2.985 - 6.6
52 WEEK
1.82 - 170.36
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**Market Update β May 2: RBA down! FED & ECB to go!** May kicked off with another bank failure, the fourth in two months, as First Republic Bank (FRC) was seized by the FDIC, after which the assets were purchased by JPMorgan Chase. FRC became the second largest bank in US history to go under, ignominiously taking over that mantle from SVB. Morgan Stanley plans to cut 3,000 jobs due to a dealmaking slowdown by the end of June. RBA hiked its cash rate by 25 bps to 3.850%, surprising many forecasters expecting a third straight pause. __Read More:__ https://analysis.hfeu.com/en-eu/687445/
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**The White House says First Republic Bank was 'severely mismanaged'** $FRC
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**Bank ETFs hold steady after JPMorgan Chase takes over First Republic after FDIC seizure of troubled bank** U.S. exchange-traded funds that invest in bank stocks were steady on Monday morning after regulators seized troubled First Republic Bank $FRCοΏΌ, making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase $JPMοΏΌ in a bid to head off renewed stress in the country's banking system. Shares of the SPDR S&P Regional Banking ETF οΏΌ$KRE were down 0.5% and the SPDR S&P Bank ETF οΏΌ$KBE dropped 0.3%. The Invesco KBW Bank ETF οΏΌ$KBWB was 0.7% lower, while the Invesco KBW Regional Banking ETF $KBWR declined by 0.8%, according to FactSet data. Reporting by Isabel Wang
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Key Metrics
Market Cap
630.56 M
Beta
0
Avg. Volume
58.23 M
Shares Outstanding
179.65 M
Yield
23.03%
Public Float
0
Next Earnings Date
Next Dividend Date
Company Information
CEO: James Herbert
Website: https://www.firstrepublic.com/
HQ: 111 Pine St San Francisco, 94111-5602 California
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