Piper Jaffray Cuts Price Target on First Republic Bank (FRC) to $59 Following 3Q15.

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Go back to Piper Jaffray Cuts Price Target on First Republic Bank (FRC) to $59 Following 3Q15.

First Republic Reports Strong Third Quarter 2015 Results

October 15, 2015 8:02 AM EDT

SAN FRANCISCO, Oct. 15, 2015 /PRNewswire/ -- First Republic Bank (NYSE: FRC) today announced financial results for the quarter ended September 30, 2015.

"Third quarter results were very strong," said CEO Jim Herbert.  "Credit quality remains excellent.  Our simple and client-focused banking model continues to deliver consistent, across-the-board growth."

Quarterly Highlights

Financial Results

Core revenues were up 14.9% compared to last year's third quarter. (1) Net income was $134.8 million. Diluted earnings per share ("EPS") of $0.82.... More