Después de que la UBS adquiriera Credit Suisse y cerca de una docena de instituciones financieras inyectaran $30 mil millones en el First Republic Bank hace cuatro días, S&P Global rebajó la calificación de las acciones de First Republic al estado basura el domingo. A los inversores les preocupa que la inyección de efectivo procedente de 11 major financial institutions may not address the bank’s liquidity issues. First Republic’s shares fell more than 15% on Monday morning when Wall Street opened and by 1:15 pm. (hora del Este), the stock was down more than 25%.
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At around 1:15 pm. Eastern Time on Monday, Marzo 20, 2023, shares of San Francisco-based First Republic Bank (bolsa de Nueva York: FRC) were down more than 25% contra los estados unidos. dólar. The commercial bank and wealth management services provider recently received $30 billion from 11 grandes bancos, including Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Wells Fargo, BNY Mellon, PNC Bank, State Street, Banco Truista, and US Bank, en marzo 16.
Sin embargo, the cash infusion has not helped First Republic as S&P Global reduced the bank’s stock (FRC) a junk status, citing concerns that the recent help from 11 banks may not alleviate First Republic’s problems. This was the second downgrade of FRC in less than a week. First Republic has intentó to raise capital by issuing more shares and seeking investment from private equity firms and smaller banks.
This is First Republic’s second attempt to raise capital since Marzo 10, and then it received the deposit injection from the major lenders six days later. CNN contributor Allison Morrow was told that First Republic is facing a fate similar to that of Silicon Valley Bank (SVB) due to being a “Bay Area-based lender with a deep-pocketed client base.” Patricia McCoy, a law professor at Boston College, told Morrow that depositors are “particularly trigger-prone.”
“They’re sophisticated, they know they have other options, and they have mechanisms in place to move money quickly,” McCoy added.
At 1:15 pm. (hora del Este) en marzo 20, 2023, First Republic’s shares are down more than 25% this afternoon and trading for just above $17 per share. The bank’s shares reached an all-time intraday low while other banks managed to weather the storm on Monday following the Credit Suisse buyout.
What do you think about S&P Global downgrading First Republic Bank’s stock to junk status on Sunday? Comparta sus pensamientos sobre este tema en la sección de comentarios a continuación..
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