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

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Sterne Agee Initiates First Republic Bank With Underperform

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
Nov 2014Sterne AgeeInitiates Coverage onUnderperform
Oct 2014Keefe Bruyette & WoodsMaintainsOutperform
Sep 2014Morgan StanleyMaintainsOverweight

View More Analyst Ratings for FRC
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Posted-In: BMO Capital Markets Lana ChanAnalyst Color Downgrades Analyst Ratings

 

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