First Republic Bank (NYSE:FRC) had its price objective upped by equities research analysts at Maxim Group from $83.00 to $86.00 in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the stock. Maxim Group’s price target suggests a potential upside of 16.23% from the stock’s previous close.

Several other equities analysts have also commented on the stock. JPMorgan Chase & Co. reiterated a “buy” rating on shares of First Republic Bank in a research note on Saturday, July 9th. FBR & Co reiterated a “hold” rating on shares of First Republic Bank in a research note on Sunday, July 17th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of First Republic Bank in a research note on Sunday, July 17th. Barclays PLC increased their price target on shares of First Republic Bank from $78.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, August 11th. Finally, Zacks Investment Research upgraded shares of First Republic Bank from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Tuesday, August 16th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $77.23.

Analyst Recommendations for First Republic Bank (NYSE:FRC)

First Republic Bank (NYSE:FRC) opened at 73.99 on Friday. The stock has a market capitalization of $11.09 billion, a price-to-earnings ratio of 20.77 and a beta of 1.06. The stock’s 50 day moving average is $76.68 and its 200 day moving average is $71.65. First Republic Bank has a 12-month low of $56.32 and a 12-month high of $79.15.

First Republic Bank (NYSE:FRC) last released its earnings results on Thursday, October 13th. The company reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.01. First Republic Bank had a net margin of 27.20% and a return on equity of 12.59%. The firm had revenue of $557.90 million for the quarter, compared to analyst estimates of $592.65 million. During the same period in the prior year, the firm earned $0.79 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities research analysts forecast that First Republic Bank will post $3.91 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Thursday, October 27th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.86%. The ex-dividend date is Tuesday, October 25th. First Republic Bank’s payout ratio is 18.23%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRC. First Republic Investment Management Inc. boosted its position in First Republic Bank by 99.6% in the first quarter. First Republic Investment Management Inc. now owns 764,592 shares of the company’s stock valued at $50,953,000 after buying an additional 381,494 shares during the last quarter. Ownership Capital B.V. boosted its position in First Republic Bank by 15.0% in the second quarter. Ownership Capital B.V. now owns 851,341 shares of the company’s stock valued at $59,585,000 after buying an additional 111,328 shares during the last quarter. GW&K Investment Management LLC boosted its position in First Republic Bank by 9.7% in the second quarter. GW&K Investment Management LLC now owns 362,397 shares of the company’s stock valued at $25,364,000 after buying an additional 32,104 shares during the last quarter. Pacad Investment Ltd. acquired a new position in First Republic Bank during the first quarter valued at about $353,000. Finally, Hartford Investment Management Co. boosted its position in First Republic Bank by 34.0% in the second quarter. Hartford Investment Management Co. now owns 4,156 shares of the company’s stock valued at $291,000 after buying an additional 1,054 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.

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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