Linkedin stock premium4/6/2023 This information is provided for illustrative purposes only. No representations and warranties are made as to the reasonableness of the assumptions. Certain assumptions have been made for modeling purposes and are unlikely to be realized. Changes in these assumptions may have a material impact on the backtested returns presented. General assumptions include: XYZ firm would have been able to purchase the securities recommended by the model and the markets were sufficiently liquid to permit all trading. Backtested results are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. Backtested performance is not an indicator of future actual results. (See FRC stock forecast)ĭisclaimer: The TipRanks Smart Score performance is based on backtested results. (To watch Long’s track record, click here)Ħ other analysts join Long on the sidelines, and 1 analyst recommends walking away, but with an additional 10 Buys, the stock receives a Moderate Buy consensus rating. Neutral), while his prior $150 price target is taken off the table. The analyst believes that until the panic surrounding bank deposits settles, there is some “immediate near-term price risk.”Īs a result of all the hoopla, Long downgraded FRC from Strong Buy to Market Perform (i.e. Additionally, over the long run, Long sees the bank’s customer service-driven model “driving market share gains and increase in investor interest,” and that could enable the stock to command a “premium valuation.” Long believes that eventually First Republic can get back to “driving growth and improved profitability,” so long as the panic amongst bank depositors cools down following the bank regulators’ support. “While we believe the bank received some deposit inflows on Thursday during the bank run at SVB Financial, additional panic among large depositors may have driven deposit balances lower since Thursday.” “Despite the added liquidity sources, we believe deposit balances will remain under pressure in the immediate near-term,” the analyst explained. Nevertheless, against a backdrop of such uncertainty, Raymond James analyst David Long thinks it will be a while before the fog clears. Additionally, that figure does not factor in the possibility for more liquidity under the Federal Reserve’s announced Bank Term Funding Program. On Sunday evening, the San Francisco-based bank disclosed that its financial position had improved after it had secured additional liquidity from the Federal Reserve and JPMorgan Chase, taking its total available borrowing capacity to over $70 billion. The drop came even as the private lender and wealth management firm tried to assuage investor fears that its operations would not be affected by Silicon Valley Bank’s implosion. Is it safe to say the word “bank” yet without causing shares of any players in the sector to fall dramatically? Probably not, as the market activity around First Republic Bank ( FRC ) stock early Monday showed.įirst Republic shares are down 65% as investors continued digesting the fallout from the collapse of – take your pick by now – Silicon Valley Bank, Silvergate and the latest victim – Signature Bank.
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