Fate of First Republic Bank Uncertain as Shares Plummet Again

Fate of First Republic Bank Uncertain as Shares Plummet Again(nytimes.com)

1 points by pearjuice 3 years ago | 2 comments

newaccount2023 3 years ago |

take a deep breath...

FRB is the same bank it was two weeks ago but with $30 bln more in deposits

there is no material evidence that it is dire straits

there is no material evidence of malfeasance

there is no material evidence of a run on the bank

the P/E for FRB is now UNDER 2

re-read that...UNDER 2

you either believe FRB's collapse is IMMINENT (and if so, what is the evidence?)...or this is the strongest insane buy signal I have seen in years

the stock is trading for $16 and most analysts still have a price target of over $120

this is literally a panic selling mania that seems to have no basis in evidence at all, its crazy

even NYT commenters are pointing out...there's nothing wrong with First Republic

jorpal 3 years ago | |

I do agree with you that the bank will likely not collapse with help from the big banks. But business wise it is not in a great position with lots of low interest rate loans. Still, I would expect some recovery in the stock price.