First Republic Bank (FRC) Given Hold Rating at Keefe, Bruyette & Woods
Other analysts also recently issued reports about the company. JPMorgan Chase & Co. restated a buy rating on shares of First Republic Bank in a research report on Sunday, July 17th. Zacks Investment Research raised First Republic Bank from a hold rating to a buy rating and set a $80.00 target price for the company in a report on Tuesday, July 19th. Jefferies Group reaffirmed a buy rating and issued a $80.00 target price on shares of First Republic Bank in a report on Thursday, July 7th. Maxim Group upped their target price on First Republic Bank from $83.00 to $86.00 and gave the stock a buy rating in a report on Friday. Finally, BMO Capital Markets reaffirmed a hold rating and issued a $70.00 target price on shares of First Republic Bank in a report on Thursday, July 7th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $77.00.
First Republic Bank (NYSE:FRC) traded down 0.184% on Friday, hitting $73.185. The company’s stock had a trading volume of 228,165 shares. The firm has a 50 day moving average of $76.66 and a 200 day moving average of $71.70. First Republic Bank has a 12 month low of $56.32 and a 12 month high of $79.15. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 20.540 and a beta of 1.06.
First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Thursday, October 13th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.01. First Republic Bank had a return on equity of 12.95% and a net margin of 27.68%. The business earned $557.90 million during the quarter, compared to the consensus estimate of $592.65 million. During the same period in the prior year, the company earned $0.79 EPS. First Republic Bank’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts forecast that First Republic Bank will post $3.91 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Thursday, October 27th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Tuesday, October 25th. First Republic Bank’s payout ratio is 17.34%.
Several hedge funds have recently modified their holdings of the stock. Global X Management Co. LLC increased its stake in shares of 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 worth $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 worth about $190,000. Capstone Asset Management Co. purchased a new stake in First Republic Bank during the third quarter worth about $204,000. Raymond James Trust N.A. purchased a new stake in First Republic Bank during the second quarter worth about $208,000. Finally, Profund Advisors LLC purchased a new stake in First Republic Bank during the second quarter worth about $211,000. 98.21% of the stock is owned by 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.
Receive News & Stock Ratings for First Republic Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Republic Bank and related stocks with our FREE daily email newsletter.