Cantor Fitzgerald Starts First Republic Bank (FRC) at Buy; Differentiated, Growth Franchise

Cantor Fitzgerald initiates coverage on First Republic Bank (NYSE: FRC) with a Buy. PT $34.00.

Cantor analyst says, "We regard First Republic as one of the best smid-cap (or any-cap) banks in the nation, combining a high-quality, low-risk franchise with growth -- a rare combination, in our view...In our view, First Republic's strategy is unique: it "leads" with its jumbo mortgage product, and has been successful in "cross-selling" private banking/wealth management products, and in converting many private banking clients to business banking clients."

For more ratings news on First Republic Bank click here and for the rating history of First Republic Bank click here.

Shares of First Republic Bank closed at $25.14 yesterday.

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