Brokerages Set First Republic Bank (NYSE:FRC) PT at $103.00

First Republic Bank (NYSE:FRC) has earned a consensus recommendation of “Hold” from the fifteen research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $103.00.

FRC has been the topic of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating on shares of First Republic Bank in a report on Tuesday, July 16th. Maxim Group reaffirmed a “buy” rating and set a $110.00 price target on shares of First Republic Bank in a report on Wednesday, July 17th. Zacks Investment Research downgraded First Republic Bank from a “hold” rating to a “sell” rating and set a $104.00 price target on the stock. in a report on Friday, July 5th. Credit Suisse Group lowered their price target on First Republic Bank from $105.00 to $98.00 and set a “neutral” rating on the stock in a report on Thursday, July 18th. Finally, Raymond James downgraded First Republic Bank to a “hold” rating in a report on Monday, July 8th.

Shares of NYSE:FRC opened at $92.06 on Wednesday. The company has a market cap of $15.31 billion, a P/E ratio of 19.14, a PEG ratio of 2.61 and a beta of 0.85. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.01 and a quick ratio of 1.01. First Republic Bank has a 1 year low of $79.42 and a 1 year high of $107.75. The stock’s fifty day moving average price is $97.20 and its 200-day moving average price is $100.20.

First Republic Bank (NYSE:FRC) last announced its quarterly earnings results on Tuesday, July 16th. The bank reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.02). The business had revenue of $819.38 million for the quarter, compared to the consensus estimate of $836.26 million. First Republic Bank had a net margin of 22.94% and a return on equity of 11.30%. During the same period in the previous year, the company earned $1.20 earnings per share. On average, sell-side analysts anticipate that First Republic Bank will post 4.98 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, July 25th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Wednesday, July 24th. First Republic Bank’s dividend payout ratio (DPR) is presently 15.80%.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in First Republic Bank by 3.0% during the second quarter. BlackRock Inc. now owns 12,147,623 shares of the bank’s stock valued at $1,186,214,000 after acquiring an additional 350,766 shares during the last quarter. JPMorgan Chase & Co. increased its position in First Republic Bank by 1.5% during the second quarter. JPMorgan Chase & Co. now owns 5,918,481 shares of the bank’s stock valued at $567,345,000 after acquiring an additional 87,873 shares during the last quarter. Canada Pension Plan Investment Board increased its position in First Republic Bank by 8.1% during the second quarter. Canada Pension Plan Investment Board now owns 2,144,779 shares of the bank’s stock valued at $209,438,000 after acquiring an additional 161,331 shares during the last quarter. Geode Capital Management LLC increased its position in First Republic Bank by 57.4% during the fourth quarter. Geode Capital Management LLC now owns 2,097,305 shares of the bank’s stock valued at $181,934,000 after acquiring an additional 764,661 shares during the last quarter. Finally, Northern Trust Corp increased its position in First Republic Bank by 1.0% during the second quarter. Northern Trust Corp now owns 1,737,582 shares of the bank’s stock valued at $169,676,000 after acquiring an additional 17,404 shares during the last quarter.

First Republic Bank Company Profile

First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit.

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Analyst Recommendations for First Republic Bank (NYSE:FRC)

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