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UPDATE: First Republic Bank Downgraded at BMO Capital Markets on Margin Pressure

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In a report published Tuesday, analyst Lana Chan of BMO Capital Markets downgrades First Republic Bank (NYSE: FRC) to Market Perform from Outperform and increases price target to $55 from $53.

Chan noted in the report, "In addition to the richer valuation, we are also concerned about net interest margin pressure for FRC as pricing competition for jumbo mortgages has intensified in the fourth quarter."

FRC closed Monday at $51.32 and is currently trading down at $50.98.

Latest Ratings for FRC

DateFirmActionFromTo
Mar 2015Raymond JamesDowngradesStrong BuyMarket Perform
Mar 2015BMO CapitalMaintainsMarket Perform
Jan 2015Keefe Bruyette & WoodsDowngradesOutperformMarket Perform

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Posted-In: BMO Capital Markets Lana ChanAnalyst Color Downgrades Analyst Ratings

 

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