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Analyst Actions: RBC Capital Cuts First Republic Bank PT to $96 From $102; Maintains Sector Perform Rating


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RBC Capital said Friday it has lowered First Republic Bank ( FRC ) price target to $96 from $102, while reiterating its sector perform rating.

According to the broker the company reported 3Q EPS of $1.19, with core revenue trends continuing to be solid and driven by a combination of strong loan growth and core fee expansion.

"First Republic again demonstrated its ability to effectively manage against ongoing deposit pricing and expense pressures through solid balance sheet growth. The outlook remains consistent and favorable," said RBC.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , ETFs
Referenced Symbols: FRC



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