First Republic Announces Series G Preferred Stock Offering

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Piper Jaffray Says First Republic Bank's (FRC) Bite Sized Preferred Raise for Growth Should Not Surprise Investors - Remains Neutral

February 4, 2016 9:08 AM EST

Piper Jaffray reiterated a Neutral rating on First Republic Bank (NYSE: FRC), and raised the price target to $64.00 (from $63.00), after the company announced that it had priced $150M of noncumulative perpetual preferred stock at a 5.50% coupon that is expected to close on February 10. Piper Jaffray says... More