First Republic Bank (NYSE:FRC)‘s stock had its “hold” rating reiterated by research analysts at Keefe, Bruyette & Woods in a research report issued on Friday, October 13th. They currently have a $87.00 price target on the bank’s stock. Keefe, Bruyette & Woods’ target price indicates a potential downside of 12.62% from the stock’s previous close.
Several other equities research analysts also recently weighed in on FRC. Jefferies Group LLC upped their target price on First Republic Bank from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. Barclays PLC downgraded First Republic Bank from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $108.00 to $104.00 in a research report on Tuesday, October 10th. BidaskClub downgraded First Republic Bank from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Maxim Group reissued a “buy” rating and issued a $110.00 price target (up previously from $105.00) on shares of First Republic Bank in a report on Friday, July 14th. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of First Republic Bank in a report on Friday, September 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $102.93.
First Republic Bank (NYSE:FRC) traded up 0.30% during mid-day trading on Friday, hitting $99.87. The company had a trading volume of 578,045 shares. The company has a market capitalization of $15.77 billion, a P/E ratio of 23.55 and a beta of 1.01. The company has a 50-day moving average price of $99.82 and a 200 day moving average price of $97.61. First Republic Bank has a 52-week low of $72.43 and a 52-week high of $105.52.
First Republic Bank (NYSE:FRC) last issued its earnings results on Friday, October 13th. The bank reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.02). First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The company had revenue of $670.30 million during the quarter, compared to analysts’ expectations of $678.25 million. During the same period in the previous year, the company earned $1.00 EPS. First Republic Bank’s quarterly revenue was up 20.1% on a year-over-year basis. On average, analysts forecast that First Republic Bank will post $4.37 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Bank of Nova Scotia acquired a new stake in shares of First Republic Bank during the 1st quarter worth approximately $483,000. Barnett & Company Inc. acquired a new stake in shares of First Republic Bank during the 2nd quarter worth approximately $100,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of First Republic Bank by 100.6% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,071 shares of the bank’s stock worth $107,000 after purchasing an additional 537 shares during the period. Shine Investment Advisory Services Inc. acquired a new stake in shares of First Republic Bank during the 2nd quarter worth approximately $128,000. Finally, Parallel Advisors LLC raised its position in shares of First Republic Bank by 21.4% during the 2nd quarter. Parallel Advisors LLC now owns 1,317 shares of the bank’s stock worth $132,000 after purchasing an additional 232 shares during the period. Institutional investors and hedge funds own 97.55% of the company’s stock.
First Republic Bank Company Profile
First Republic Bank is a commercial bank and trust company. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States.