First Republic Bank is down 21% as the most heavily-traded stock in premarket action with volume of more than one million shares, according to MarketWatch’s...
First Republic Bank FRC is down 21% as the most heavily-traded stock in premarket action with volume of more than one million shares, according to MarketWatch’s Premarket Screener. Analysts at Raymond James said the bank’s first-quarter results released late Monday were disappointing, with a “dramatic decline in core deposit balances, increased reliance on high-cost borrowings, and substantial net interest margin compression.
Analysts at Raymond James said the bank’s first-quarter results released late Monday were disappointing, with a “dramatic decline in core deposit balances, increased reliance on high-cost borrowings, and substantial net interest margin compression.” First Republic aired plans to reduce its loan portfolio and cut costs, including laying off up to 25% of its workforce. “We believe FRC shares will remain volatile until we gain more clarity on the bank’s future,” said analyst David J. Long.
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First Republic Bank Stock Price Today | NYSE FRC Live Ticker - Investing.comView today's First Republic Bank stock price and latest FRC news and analysis. Create real-time notifications to follow any changes in the live stock price.
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First Republic Bank slashing up to a quarter of its workforceThe bank expects to cut its workforce by 20-25%, the embattled lender said Monday.
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First Republic Bank to slash up to a quarter of its workforce | CNN BusinessFirst Republic Bank expects to cut its workforce by 20-25% this quarter, the embattled lender said late Monday.
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First Republic Bank deposits fall by $72 billion, announces layoffsFirst Republic Bank's deposits fell by $72 billion in the first quarter, overshadowing market-beating profit and sending its shares down 15% in extended trading on Monday.
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