First Republic Bank (NYSE:FRC) – Research analysts at Jefferies Group cut their Q3 2016 earnings per share estimates for shares of First Republic Bank in a research report issued to clients and investors on Friday. Jefferies Group analyst C. Haire now expects that the brokerage will post earnings of $0.98 per share for the quarter, down from their previous forecast of $0.99. Jefferies Group has a “Buy” rating and a $80.00 price target on the stock. Jefferies Group also issued estimates for First Republic Bank’s FY2016 earnings at $3.90 EPS and FY2018 earnings at $5.10 EPS.

First Republic Bank (NYSE:FRC) last posted its earnings results on Thursday, July 14th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. First Republic Bank had a net margin of 27.20% and a return on equity of 12.59%. The firm had revenue of $535.10 million for the quarter, compared to the consensus estimate of $568.53 million. During the same period in the previous year, the firm posted $0.73 EPS.

Earnings History and Estimates for First Republic Bank (NYSE:FRC)

A number of other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of First Republic Bank from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Tuesday, October 4th. BMO Capital Markets reissued a “hold” rating and set a $70.00 price target on shares of First Republic Bank in a report on Thursday, July 7th. Barclays PLC increased their price target on shares of First Republic Bank from $78.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, August 11th. FBR & Co increased their price target on shares of First Republic Bank from $70.00 to $73.00 and gave the stock a “mkt perform” rating in a report on Friday, July 15th. Finally, Keefe, Bruyette & Woods increased their price target on shares of First Republic Bank from $70.00 to $73.00 and gave the stock a “market perform” rating in a report on Friday, July 15th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $75.23.

Shares of First Republic Bank (NYSE:FRC) opened at 78.67 on Monday. First Republic Bank has a 12-month low of $56.32 and a 12-month high of $79.15. The stock has a 50 day moving average of $76.46 and a 200-day moving average of $71.55. The company has a market capitalization of $11.79 billion, a P/E ratio of 22.08 and a beta of 1.06.

A number of large investors have recently added to or reduced their stakes in FRC. Global X Management Co. LLC boosted its stake in First Republic Bank by 180.5% in the second quarter. Global X Management Co. LLC now owns 1,798 shares of the company’s stock valued at $126,000 after buying an additional 1,157 shares during the last quarter. Springbok Capital Management LLC purchased a new stake in First Republic Bank during the first quarter valued at about $190,000. Raymond James Trust N.A. purchased a new stake in First Republic Bank during the second quarter valued at about $208,000. Profund Advisors LLC purchased a new stake in First Republic Bank during the second quarter valued at about $211,000. Finally, World Asset Management Inc boosted its stake in First Republic Bank by 10.4% in the second quarter. World Asset Management Inc now owns 3,380 shares of the company’s stock valued at $237,000 after buying an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 98.24% 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.

5 Day Chart for NYSE:FRC

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