First Republic Bank (NYSE:FRC) has been assigned an average rating of “Hold” from the sixteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $103.31.
A number of equities research analysts have recently issued reports on FRC shares. Piper Jaffray Companies reissued a “hold” rating and issued a $99.00 price target on shares of First Republic Bank in a research note on Friday, September 1st. Barclays PLC downgraded shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $108.00 to $104.00 in a research note on Tuesday, October 10th. Jefferies Group LLC upped their target price on shares of First Republic Bank from $109.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, September 29th. Raymond James Financial, Inc. cut their target price on shares of First Republic Bank from $108.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, October 16th. Finally, Zacks Investment Research downgraded shares of First Republic Bank from a “hold” rating to a “sell” rating in a research note on Monday, September 18th.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC acquired a new stake in shares of First Republic Bank in the third quarter worth approximately $564,000. IFM Investors Pty Ltd acquired a new stake in shares of First Republic Bank in the third quarter worth approximately $438,000. Sterling Capital Management LLC boosted its position in shares of First Republic Bank by 32.5% in the third quarter. Sterling Capital Management LLC now owns 67,414 shares of the bank’s stock worth $7,042,000 after acquiring an additional 16,554 shares during the last quarter. Neuberger Berman Group LLC boosted its position 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 worth $56,839,000 after acquiring an additional 27,551 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of First Republic Bank by 6.6% in the third quarter. California Public Employees Retirement System now owns 366,398 shares of the bank’s stock worth $38,274,000 after acquiring an additional 22,798 shares during the last quarter. Institutional investors own 99.07% of the company’s stock.
First Republic Bank (NYSE:FRC) traded down $0.04 during trading on Monday, reaching $92.94. 276,100 shares of the company were exchanged, compared to its average volume of 977,274. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.95 and a quick ratio of 0.94. First Republic Bank has a 12 month low of $80.55 and a 12 month high of $105.52. The stock has a market cap of $14,620.00, a price-to-earnings ratio of 21.92, a P/E/G ratio of 1.73 and a beta of 0.99.
First Republic Bank (NYSE:FRC) last posted its quarterly earnings data on Friday, October 13th. The bank reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.02). The firm 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 4.36 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Thursday, October 26th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Wednesday, October 25th. First Republic Bank’s dividend payout ratio (DPR) is presently 16.04%.
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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