Investors Snag FRC Even Cheaper Than Its Secondary Stock Offering
- Friday, June 3, 2016, 9:26
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Looking back to 2 days ago, First Republic Bank (NYSE: FRC) priced a 2,500,000 share secondary stock offering at $71.20 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time. In trading on Friday, bargain hunters could buy shares of FRC and achieve a cost basis 1.5% cheaper than those buyers, with shares changing hands as low as $70.10 per share.
http://www.forbes.com/sites/dividendchannel/2016/06/03/investors-snag-frc-even-cheaper-than-its-secondary-stock-offering/
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