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

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Notable Stocks Trading Ex-Dividend Tuesday, July 26
Can Record-High Loan Originations Protect First Republic Bank's From Low Interest Rates?

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
Aug 2016BarclaysMaintainsOverweight
Jul 2016Keefe, Bruyette & WoodsMaintainsMarket Perform
Jul 2016JP MorganMaintainsOverweight

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

 

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