First Republic Bank (NYSE:FRC) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $87.52 and last traded at $88.54, with a volume of 2419300 shares. The stock had previously closed at $88.81.

Several research analysts recently issued reports on the stock. Barclays cut shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $108.00 to $104.00 in a report on Tuesday, October 10th. Royal Bank of Canada restated a “hold” rating on shares of First Republic Bank in a research report on Friday, September 29th. Jefferies Group raised their price target on shares of First Republic Bank from $109.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, September 29th. Piper Jaffray Companies restated a “hold” rating and set a $99.00 price target on shares of First Republic Bank in a research report on Friday, September 1st. Finally, Zacks Investment Research lowered shares of First Republic Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. First Republic Bank currently has an average rating of “Hold” and a consensus target price of $103.07.

The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.55. The stock has a market cap of $13,860.00, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 1.64 and a beta of 0.96.

First Republic Bank (NYSE:FRC) last issued its earnings results on Friday, October 13th. The bank reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The firm had revenue of $670.30 million for the quarter, compared to analysts’ expectations of $678.25 million. During the same period last year, the firm earned $1.00 earnings per share. First Republic Bank’s revenue for the quarter was up 20.1% on a year-over-year basis. analysts expect that First Republic Bank will post 4.41 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC raised its stake in shares of First Republic Bank by 23.6% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 299,667 shares of the bank’s stock valued at $31,303,000 after acquiring an additional 57,236 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of First Republic Bank in the 3rd quarter valued at approximately $564,000. IFM Investors Pty Ltd purchased a new stake in shares of First Republic Bank in the 3rd quarter valued at approximately $438,000. Sterling Capital Management LLC raised its stake in shares of First Republic Bank by 32.5% in the 3rd quarter. Sterling Capital Management LLC now owns 67,414 shares of the bank’s stock valued at $7,042,000 after acquiring an additional 16,554 shares during the period. Finally, Neuberger Berman Group LLC grew its holdings in shares of First Republic Bank by 5.3% in the third quarter. Neuberger Berman Group LLC now owns 544,122 shares of the bank’s stock valued at $56,839,000 after purchasing an additional 27,551 shares in the last quarter. 99.14% of the stock is currently owned by institutional investors.

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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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