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FRC - First Republic Bank: Balance Sheet Growth Appears Priced In
FIRST REPUBLIC BANK
Earnings will likely remain high in the coming quarters due to decent loan growth.
FRC’s expansion plans will likely drive operating expenses in the coming quarters.
The credit risk level is low because FRC’s exposure to COVID-19-sensitive industries is limited, and loan modifications make up a small percentage of total loans.
The target price for the mid of next year suggests a small downside from the current market price.