The Zhitong Finance App learned that Barclays lowered the target price of First Republic Bank (FRC.US) from 162 US dollars to 17 US dollars and maintained the “same as the market” rating. Barclays analysts said that although First Republic Bank appears to be managing short-term liquidity, deposit outflows may have slowed, but soaring financing costs combined with fixed interest rate assets may seriously drag down its net interest spreads. Additionally, unrealized securities losses and long-term loans made balance sheet restructuring difficult, Barclays added.

As of press release, First Republic Bank declined 0.71% before the market to $14.03.