Fate of First Republic Bank Uncertain as Shares Plummet Again
nytimes.comtake 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
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.