Banking Stocks Trade Mixed as First Republic Shares Drop Again.

First Republic Bank's stock fell 8% after another credit rating downgrade, making it the most actively traded bank stock on the NYSE. Bank stocks traded mixed after steep losses in the previous session, with Comerica and Zions Bancorp falling 6% and 4.2%, respectively. Truist analyst Brandon King cut stock price targets and earnings estimates for a host of banks, while Stifel Financial Corp. announced the expansion of its venture capital lending unit by hiring three "key" partners formerly with Silicon Valley Bank.