First Republic Bank (NYSE:FRC) had its target price boosted by investment analysts at Deutsche Bank AG from $83.00 to $85.00 in a research note issued on Tuesday. The brokerage presently has a “hold” rating on the stock. Deutsche Bank AG’s target price would suggest a potential upside of 8.05% from the company’s current price.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. restated a “buy” rating on shares of First Republic Bank in a report on Sunday, July 17th. Jefferies Group restated a “buy” rating and issued a $80.00 price objective on shares of First Republic Bank in a report on Thursday, July 7th. Zacks Investment Research upgraded First Republic Bank from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Tuesday, July 19th. FBR & Co reiterated a “hold” rating on shares of First Republic Bank in a research note on Sunday, July 17th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $70.00 target price on shares of First Republic Bank in a research note on Thursday, July 7th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $76.46.

Analyst Recommendations for First Republic Bank (NYSE:FRC)

Shares of First Republic Bank (NYSE:FRC) traded down 1.429% during midday trading on Tuesday, reaching $77.546. 292,130 shares of the company’s stock traded hands. First Republic Bank has a one year low of $56.32 and a one year high of $79.15. The stock’s 50-day moving average price is $76.46 and its 200 day moving average price is $71.55. The firm has a market capitalization of $11.62 billion, a PE ratio of 21.764 and a beta of 1.06.

First Republic Bank (NYSE:FRC) last released its quarterly earnings data on Thursday, July 14th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.06. The firm earned $535.10 million during the quarter, compared to the consensus estimate of $568.53 million. First Republic Bank had a return on equity of 12.59% and a net margin of 27.20%. During the same period in the previous year, the company posted $0.73 earnings per share. On average, equities research analysts expect that First Republic Bank will post $3.91 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in FRC. Vanguard Group Inc. increased its stake in First Republic Bank by 4.8% in the second quarter. Vanguard Group Inc. now owns 10,719,022 shares of the company’s stock worth $750,225,000 after buying an additional 493,190 shares during the period. State Street Corp increased its stake in First Republic Bank by 1.2% in the second quarter. State Street Corp now owns 3,844,088 shares of the company’s stock worth $269,054,000 after buying an additional 45,136 shares during the period. Aristotle Capital Management LLC increased its stake in First Republic Bank by 1.3% in the second quarter. Aristotle Capital Management LLC now owns 3,247,093 shares of the company’s stock worth $227,264,000 after buying an additional 42,483 shares during the period. Royal Bank of Canada increased its stake in First Republic Bank by 66.9% in the second quarter. Royal Bank of Canada now owns 2,320,272 shares of the company’s stock worth $162,397,000 after buying an additional 929,702 shares during the period. Finally, CAM Group Holding A S increased its stake in First Republic Bank by 2.5% in the second quarter. CAM Group Holding A S now owns 2,008,028 shares of the company’s stock worth $140,542,000 after buying an additional 49,558 shares during the period. 98.24% of the stock is owned by hedge funds and other institutional investors.

About First Republic Bank

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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