News Formal

Regional bank stocks drop for second day after First Republic failure

  • 📰 nypost
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 67%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Some investors are also concerned about the long-term impact of the JPMorgan deal for First Republic.

However, analysts have said JPMorgan Chase’s acquisition of a majority of First Republic’s assets has Shares of PacWest Bancorp tumbled nearly 25%, while Western Alliance Bank and KeyCorp fell 19% and 9%, respectively.

“While we think this deal underscores all of JPM’s key strengths, we can’t help but try to read into what it means if our biggest bank is the government’s first line of defense,” analysts at Evercore ISI wrote in a note.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 91. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US regional bank stocks fall for second day as First Republic failure weighsShares of major U.S. regional banks fell further on Tuesday in the aftermath of the collapse of First Republic Bank , the largest U.S. bank failure since the 2008 financial crisis.
Source: Reuters - 🏆 2. / 97 Read more »