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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
Dec 2016FBR CapitalUpgradesMarket PerformOutperform
Dec 2016BarclaysMaintainsOverweight
Nov 2016Morgan StanleyDowngradesOverweightEqual-Weight

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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