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First Republic Bank slides another 15% premarket after reports it’s considering a possible sale

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By sanjeevrana02


On Thursday, First Republic Bank stock FRC plunged another 15% in premarket trade amid exploration of its strategic options, including possible sale of the company. reported late Wednesday that the -based bank, which was caught in the blow of Silicon Valley Bank’s failure last week and two other lenders, was downgraded Wednesday to junk territory by S&P Global Ratings and Fitch Ratings. Was. Citing concerns about flighting deposits in large banks considered safe. spokeswoman for First Republic declined to comment to MarketWatch. JP Morgan said early Thursday that…

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