Why Is First Republic Bank (FRC) Stock Up 50% Today?


  • First Republic Bank (FRC) stock is rising on Tuesday following a major loss yesterday.
  • That came alongside a larger bank stock crash.
  • However, it looks like company shares starting to bounce back
FRC Stock - Why Is First Republic Bank (FRC) Stock Up 50% Today?

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First Republic Bank (NYSE:FRC) stock is gaining on Tuesday as the company’s shares start to recover from the recent bank stock crash.

That bank stock crash came about as SVB Financial Group (NASDAQ:SIVB) triggered concerns among investors with its principal subsidiary Silicon Valley Bank’s failure. That spread beyond just that bank and caused problems for other bank stocks as well on Monday.

FRC stock was among those hit by the news, with the company’s shares taking a 61.8% beating during normal trading hours yesterday. That came alongside heavy trading as investors sold shares, with some 132 million moving yesterday. For comparison, the company’s daily trading volume is closer to 4.8 million shares.

One thing helping out bank stocks is the Federal Reserve offering aid. This comes in the form of a fund that provides loans to banks during the crash. Some investors are seeing this as a bailout for banks.

FRC Stock Movement on Tuesday

Following yesterday’s massive drop in price, shares of FRC are regaining lost ground today. That comes as the company’s shares trade more than 7.3 million units as of this writing. That heavy trading is helping lift shares of the bank stock 50.2% higher in pre-market trading on Tuesday.

Investors looking for more of the latest stock market news, including how other bank stocks are moving, are in luck!

We’ve got all of the hottest stock market coverage traders need to know about on Tuesday! Among that is what has shares of PacWest Bancorp (NASDAQ:PACW, NASDAQ:PACWP) stock rising, the biggest pre-market stock movers for Tuesday morning, and more. You can read up on all of these matters at the following links!

More Tuesday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/03/why-is-first-republic-bank-frc-stock-up-50-today/.

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