6 big stock buybacks and dividends: First Republic halts payout | Pro Recap
Investing.com | Author Davit Kirakosyan
Published Mar 20, 2023 08:54
By Davit Kirakosyan
Investing.com -- Here is your Pro Recap of the biggest share buybacks and dividend headlines you may have missed over the past week.
First Republic Bank suspends dividend, downgraded on unprecedented uncertainty/h2
First Republic Bank (NYSE:FRC) announced on Thursday a suspension of its common stock dividend as it is going through a period of recovery, being focused on reducing its borrowings and evaluating the composition and size of its balance sheet going forward.
Shares plunged more than 32% on Friday and were trading 20% lower pre-market today.
Atlantic Equities downgraded the stock to Neutral from Overweight given the lack of clarity and unprecedented uncertainty surrounding the bank. The firm added that its adjusted
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