FIRST REPUBLIC BANK (FRC) Stock Rating Reaffirmed by Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of FIRST REPUBLIC BANK (NYSE:FRC) in a report released on Friday, July 14th. Jefferies Group LLC currently has a $109.00 target price on the bank’s stock. Jefferies Group also issued estimates for FIRST REPUBLIC BANK’s Q3 2017 earnings at $1.14 EPS and Q4 2017 earnings at $1.20 EPS.
Several other research firms have also recently commented on FRC. Royal Bank Of Canada restated a hold rating and set a $98.00 target price on shares of FIRST REPUBLIC BANK in a research report on Friday, July 7th. BidaskClub cut FIRST REPUBLIC BANK from a buy rating to a hold rating in a research report on Thursday, July 13th. Keefe, Bruyette & Woods set a $90.00 target price on FIRST REPUBLIC BANK and gave the stock a hold rating in a research report on Friday, May 26th. Zacks Investment Research upgraded FIRST REPUBLIC BANK from a sell rating to a hold rating in a research report on Wednesday, June 21st. Finally, Deutsche Bank AG boosted their target price on FIRST REPUBLIC BANK from $98.00 to $101.00 and gave the stock a hold rating in a research report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $104.54.
Shares of FIRST REPUBLIC BANK (FRC) opened at 101.60 on Friday. FIRST REPUBLIC BANK has a 12-month low of $71.66 and a 12-month high of $104.17. The stock’s 50 day moving average price is $100.93 and its 200 day moving average price is $95.64. The firm has a market capitalization of $16.02 billion, a price-to-earnings ratio of 24.79 and a beta of 0.99.
FIRST REPUBLIC BANK (NYSE:FRC) last released its quarterly earnings data on Friday, July 14th. The bank reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by $0.03. FIRST REPUBLIC BANK had a net margin of 27.37% and a return on equity of 12.16%. The company had revenue of $641.30 million for the quarter, compared to the consensus estimate of $671.27 million. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. Equities research analysts expect that FIRST REPUBLIC BANK will post $4.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Stockholders of record on Thursday, July 27th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Tuesday, July 25th. FIRST REPUBLIC BANK’s dividend payout ratio is currently 16.59%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barnett & Company Inc. bought a new position in FIRST REPUBLIC BANK during the second quarter worth $100,000. Parallel Advisors LLC raised its position in FIRST REPUBLIC BANK by 628.2% in the first quarter. Parallel Advisors LLC now owns 1,085 shares of the bank’s stock worth $101,000 after buying an additional 936 shares during the period. Israel Discount Bank of New York GFN bought a new position in FIRST REPUBLIC BANK during the fourth quarter worth $106,000. Israel Discount Bank of New York bought a new position in FIRST REPUBLIC BANK during the first quarter worth $107,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in FIRST REPUBLIC BANK by 100.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,071 shares of the bank’s stock worth $107,000 after buying an additional 537 shares during the period. 99.64% of the stock is owned by institutional investors.
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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