First Republic Bank (FRC) Receives $103.31 Consensus Price Target from Brokerages
Shares of First Republic Bank (NYSE:FRC) have received an average recommendation of “Hold” from the sixteen analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $103.31.
A number of analysts recently commented on the company. BMO Capital Markets decreased their price target on First Republic Bank from $96.00 to $92.00 and set a “market perform” rating for the company in a research report on Monday, October 16th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of First Republic Bank in a research report on Friday, September 29th. BidaskClub downgraded First Republic Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Maxim Group reaffirmed a “buy” rating and set a $110.00 price target (up from $105.00) on shares of First Republic Bank in a research report on Friday, July 14th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $110.00 price target (up from $101.00) on shares of First Republic Bank in a research report on Wednesday, July 12th.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRC. Bronfman E.L. Rothschild L.P. increased its holdings in shares of First Republic Bank by 0.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock worth $195,000 after buying an additional 5 shares during the period. Alps Advisors Inc. increased its holdings in shares of First Republic Bank by 0.3% in the second quarter. Alps Advisors Inc. now owns 4,979 shares of the bank’s stock worth $498,000 after buying an additional 13 shares during the period. Somerset Trust Co increased its holdings in shares of First Republic Bank by 0.4% in the second quarter. Somerset Trust Co now owns 9,186 shares of the bank’s stock worth $919,000 after buying an additional 40 shares during the period. Global X Management Co. LLC increased its holdings in shares of First Republic Bank by 1.1% in the second quarter. Global X Management Co. LLC now owns 5,935 shares of the bank’s stock worth $594,000 after buying an additional 62 shares during the period. Finally, Xact Kapitalforvaltning AB increased its holdings in shares of First Republic Bank by 0.3% in the second quarter. Xact Kapitalforvaltning AB now owns 19,486 shares of the bank’s stock worth $1,951,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 97.98% of the company’s stock.
First Republic Bank (NYSE:FRC) traded down $0.02 during mid-day trading on Thursday, reaching $94.43. The company had a trading volume of 1,241,251 shares, compared to its average volume of 1,260,000. First Republic Bank has a fifty-two week low of $73.57 and a fifty-two week high of $105.52. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. The firm has a market cap of $14,710.00, a P/E ratio of 22.28, a P/E/G ratio of 1.75 and a beta of 0.99.
First Republic Bank (NYSE:FRC) last issued its quarterly earnings data on Friday, October 13th. The bank reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). The company had revenue of $670.30 million during the quarter, compared to analysts’ expectations of $678.25 million. First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the company earned $1.00 earnings per share. equities analysts predict that First Republic Bank will post 4.38 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 26th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, October 25th. This represents a $0.68 dividend on an annualized basis and a yield of 0.72%. First Republic Bank’s payout ratio is 16.04%.
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.
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