Market News

FRC Soars as It Works to Avoid Collapsing

Shares of First Republic Bank (NYSE:FRC) are soaring as JPMorgan Chase (NYSE:JPM) and other large banks look for ways to stabilize it. This could include converting the $30 billion deposits from last week into a capital infusion.

FRC’s first choice would be a successful capital raise. However, should a capital raise not materialize, First Republic might have to sell parts of its business and cut costs or sell the bank in its entirety. Potential buyers could include other banks and private equity firms.

Overall, Wall Street analysts are cautiously optimistic about FRC stock, with a Moderate Buy consensus rating based on seven Buys, 10 Holds, and one Sell.


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