First Republic Bank's Stock Volatility Continues Amidst Strategic Review and Hiring of Advisers.
TL;DR Summary
First Republic Bank's stock dropped 9% in after-hours trading after reports that the bank has hired advisers to review its options and manage the crisis. The bank has reportedly tapped Lazard to help it review its options and McKinsey for post-crisis planning. Options on the table include a sale, a capital infusion, and asset sales. The bank's stock rallied 30% in the regular trading day Tuesday, buoyed by reports that JPMorgan Chase was working to help bolster the bank's capital.
- First Republic stock tumbles after hours as bank reportedly hires more advisers MarketWatch
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- Jamie Dimon regretted saving Bear Stearns and Washington Mutual in 2008. Now the JPMorgan CEO is leading an attempt to rescue another flailing bank Yahoo Finance
- Why First Republic is hurt by it's location: analyst Yahoo Finance
- First Republic Bank Taps Lazard for Help With Review of Strategic Options - WSJ The Wall Street Journal
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