First Republic Bank (FRC) Price Target Increased to $80.00 by Analysts at FBR & Co
Other research analysts have also recently issued reports about the company. 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 research report on Tuesday, July 19th. JPMorgan Chase & Co. reiterated a buy rating on shares of First Republic Bank in a research note on Sunday, July 17th. Jefferies Group reiterated a buy rating and set a $80.00 price objective on shares of First Republic Bank in a research note on Thursday, July 7th. BMO Capital Markets reiterated a hold rating and set a $70.00 price objective on shares of First Republic Bank in a research note on Thursday, July 7th. Finally, Keefe, Bruyette & Woods reiterated a hold rating on shares of First Republic Bank in a research note on Sunday, July 17th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $77.00.
Shares of First Republic Bank (NYSE:FRC) traded up 0.07% on Friday, reaching $73.37. The company had a trading volume of 141,000 shares. The stock’s 50 day moving average is $76.66 and its 200 day moving average is $71.69. First Republic Bank has a 52 week low of $56.32 and a 52 week high of $79.15. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of 20.59 and a beta of 1.06.
First Republic Bank (NYSE:FRC) last issued its earnings results on Thursday, October 13th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.99 by $0.01. The firm earned $557.90 million during the quarter, compared to analysts’ expectations of $592.65 million. First Republic Bank had a return on equity of 12.95% and a net margin of 27.68%. First Republic Bank’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned $0.79 earnings per share. On average, equities analysts anticipate that First Republic Bank will post $3.91 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Thursday, October 27th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Tuesday, October 25th. First Republic Bank’s payout ratio is 17.34%.
A number of large investors have recently added to or reduced their stakes in FRC. Sarasin & Partners LLP bought a new position in First Republic Bank during the third quarter valued at $42,181,000. National Pension Service raised its position in First Republic Bank by 9.3% in the third quarter. National Pension Service now owns 130,728 shares of the company’s stock valued at $10,080,000 after buying an additional 11,093 shares during the period. Private Trust Co. NA raised its position in First Republic Bank by 34.5% in the third quarter. Private Trust Co. NA now owns 13,259 shares of the company’s stock valued at $1,022,000 after buying an additional 3,400 shares during the period. Howland Capital Management LLC raised its position in First Republic Bank by 17.9% in the third quarter. Howland Capital Management LLC now owns 126,502 shares of the company’s stock valued at $9,755,000 after buying an additional 19,225 shares during the period. Finally, Capstone Asset Management Co. bought a new position in First Republic Bank during the third quarter valued at $204,000. Hedge funds and other institutional investors own 98.21% 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.
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