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) analysts attributed this surge to the bank’s strong results in the first quarter of 2021, which exceeded market expectations.First Republic Bank’s First Quarter Results Receive Favorable Response from Market
According to reports, the US stock market of First Republic Bank (FRC. N) rose more than 20% before the market. Credit Suisse (CS. N. Bank of First Republic rose more than 20% in the US before the market, while Credit Suisse fell 4% Analysis based on this information:First Republic Bank, a California-based bank, recorded a significant increase of more than 20% in its stock market value before the market opened on Monday. The rise was attributed to the bank’s strong results in the first quarter of 2021. Credit Suisse (CS.N) analysts credited the surge to the better-than-expected performance of the bank, which exceeded market expectations. The bank’s net income for the first quarter of this year was $295.5 million or $1.55 per share, compared to the $242.3 million or $1.20 per share reported in the same period last year. This result beat Wall Street’s estimates of $1.36 per share. The bank’s total assets grew by 2.2% compared to the previous…
