Fitch downgrades First Republic to BB. Places ratings on negative watch

Fitch has downgraded First Republic to BB, a junk rating, and placed the ratings on negative watch. Shares of the regional bank (FRC) have declined by $6.73 or 16.98%, currently trading at $32.95. On Monday, the stock hit a low of $17.53 before rebounding to a high of $50.97 yesterday. As recently as March 3rd, the price reached $123.70, and on February 2nd, it traded as high as $147.68. The stock's peak in 2021 was $222.86.

Shares are now trading down $-7.46 or -18.93% at $32.07.

Meanwhile Credit Suisse shares are trading at $2.10, down -$0.41 or -16.33%. The low price reached $1.75. Charles Schwab remains supported at $57.90. That's at $1.22 or 2.14%. Shares reached a low $45 on Monday but rebounded to a high yesterday of $61.11.

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