First Republic Bank (FRC) Receives $78.78 Average PT from Analysts
First Republic Bank (NYSE:FRC) has been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the stock. Four equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $79.25.
Several research firms have recently weighed in on FRC. FBR & Co reaffirmed a “hold” rating on shares of First Republic Bank in a research note on Sunday, July 17th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of First Republic Bank in a research note on Sunday, July 17th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of First Republic Bank in a research note on Sunday, July 17th. Zacks Investment Research upgraded First Republic Bank from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Monday, November 7th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $71.00 price target on shares of First Republic Bank in a report on Friday, July 15th.
Several large investors have recently modified their holdings of the stock. KCG Holdings Inc. purchased a new stake in shares of First Republic Bank during the third quarter worth $617,000. Nomura Asset Management Co. Ltd. increased its stake in shares of First Republic Bank by 3.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 17,180 shares of the company’s stock worth $1,325,000 after buying an additional 550 shares during the period. Profund Advisors LLC increased its stake in shares of First Republic Bank by 30.1% in the third quarter. Profund Advisors LLC now owns 3,916 shares of the company’s stock worth $302,000 after buying an additional 907 shares during the period. Morgan Stanley increased its stake in shares of First Republic Bank by 4.5% in the third quarter. Morgan Stanley now owns 649,140 shares of the company’s stock worth $50,055,000 after buying an additional 28,049 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of First Republic Bank by 11.9% in the third quarter. Principal Financial Group Inc. now owns 227,896 shares of the company’s stock worth $17,573,000 after buying an additional 24,148 shares during the period. Institutional investors and hedge funds own 98.60% of the company’s stock.
First Republic Bank (NYSE:FRC) opened at 82.37 on Wednesday. The firm has a market capitalization of $12.37 billion, a P/E ratio of 22.01 and a beta of 0.93. The company has a 50-day moving average price of $76.30 and a 200-day moving average price of $72.76. First Republic Bank has a one year low of $56.32 and a one year high of $82.78.
First Republic Bank (NYSE:FRC) last released its quarterly earnings data on Thursday, October 13th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.01. The business had revenue of $557.90 million for the quarter, compared to analyst estimates of $592.65 million. First Republic Bank had a return on equity of 12.95% and a net margin of 27.68%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. On average, equities research analysts anticipate that First Republic Bank will post $3.93 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Thursday, October 27th were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, October 25th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.78%. First Republic Bank’s dividend payout ratio (DPR) is 17.34%.
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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