Market Overview

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

Related FRC
Earnings Scheduled For October 16, 2014
UPDATE: Morgan Stanley Reiterates On First Republic Bank On Loan Growth, Expense Cut Upside

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
Oct 2014Keefe Bruyette & WoodsMaintainsOutperform
Sep 2014Morgan StanleyMaintainsOverweight
Jul 2014Raymond JamesUpgradesOutperformStrong Buy

View More Analyst Ratings for FRC
View the Latest Analyst Ratings

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

 

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