First Republic Bank (NYSE:FRC)‘s stock had its “hold” rating reiterated by research analysts at Piper Jaffray Companies in a report issued on Friday. They currently have a $99.00 price objective on the bank’s stock. Piper Jaffray Companies’ target price indicates a potential downside of 1.75% from the company’s current price.
A number of other analysts have also recently commented on the stock. Deutsche Bank AG boosted their target price on shares of First Republic Bank from $98.00 to $101.00 and gave the company a “hold” rating in a report on Tuesday, April 18th. Barclays PLC boosted their target price on shares of First Republic Bank from $100.00 to $101.00 and gave the company an “overweight” rating in a report on Wednesday, April 19th. BMO Capital Markets restated a “hold” rating and set a $98.00 target price on shares of First Republic Bank in a report on Wednesday, March 22nd. Zacks Investment Research cut shares of First Republic Bank from a “hold” rating to a “sell” rating in a report on Tuesday, June 6th. Finally, Jefferies Group LLC restated a “buy” rating and set a $109.00 target price on shares of First Republic Bank in a report on Sunday, June 11th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. First Republic Bank currently has a consensus rating of “Hold” and a consensus price target of $104.54.
First Republic Bank (NYSE FRC) opened at 100.76 on Friday. The company has a market capitalization of $15.84 billion, a price-to-earnings ratio of 25.13 and a beta of 0.99. First Republic Bank has a 52 week low of $70.00 and a 52 week high of $104.17. The company’s 50-day moving average is $96.01 and its 200 day moving average is $93.89.
First Republic Bank (NYSE:FRC) last announced its earnings results on Friday, July 14th. The bank reported $1.06 EPS for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $641.30 million for the quarter, compared to the consensus estimate of $671.27 million. During the same quarter last year, the firm posted $0.97 EPS. The business’s quarterly revenue was up 19.8% on a year-over-year basis. On average, analysts forecast that First Republic Bank will post $4.47 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the company. Parallel Advisors LLC raised its position in shares of 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 acquired a new position in shares of First Republic Bank during the first quarter worth $107,000. Creative Planning raised its position in shares of First Republic Bank by 5.5% in the first quarter. Creative Planning now owns 1,160 shares of the bank’s stock worth $109,000 after buying an additional 60 shares during the period. Toronto Dominion Bank raised its position in shares of First Republic Bank by 49.7% in the first quarter. Toronto Dominion Bank now owns 1,944 shares of the bank’s stock worth $182,000 after buying an additional 645 shares during the period. Finally, HRT Financial LLC acquired a new position in shares of First Republic Bank during the first quarter worth $201,000. 98.66% of the stock is owned by institutional investors and hedge funds.
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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