Barclays PLC set a $102.00 target price on FIRST REPUBLIC BANK (NYSE:FRC) in a research note issued to investors on Monday, October 16th. The brokerage currently has a hold rating on the bank’s stock.
Several other equities analysts also recently commented on FRC. Wedbush reaffirmed an outperform rating and set a $121.00 price objective on shares of FIRST REPUBLIC BANK in a research note on Tuesday, June 27th. BidaskClub raised shares of FIRST REPUBLIC BANK from a hold rating to a buy rating in a research note on Saturday, July 1st. Morgan Stanley reissued an equal weight rating and issued a $104.00 price target (up from $102.00) on shares of FIRST REPUBLIC BANK in a research note on Thursday, July 6th. Royal Bank Of Canada reissued a hold rating and issued a $98.00 price target on shares of FIRST REPUBLIC BANK in a research note on Friday, July 7th. Finally, Maxim Group reissued a buy rating and issued a $110.00 price target (up from $105.00) on shares of FIRST REPUBLIC BANK in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $102.93.
Shares of FIRST REPUBLIC BANK (NYSE FRC) traded down 0.27% during trading on Monday, reaching $99.30. The company’s stock had a trading volume of 919,519 shares. FIRST REPUBLIC BANK has a 52-week low of $72.43 and a 52-week high of $105.52. The firm’s 50-day moving average is $99.82 and its 200 day moving average is $97.61. The company has a market cap of $15.68 billion, a PE ratio of 23.42 and a beta of 1.01.
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 firm had revenue of $670.30 million for the quarter, compared to the consensus estimate of $678.25 million. FIRST REPUBLIC BANK had a net margin of 26.85% and a return on equity of 12.06%. The business’s revenue was up 20.1% on a year-over-year basis. During the same period last year, the company posted $1.00 earnings per share. On average, equities research analysts predict that FIRST REPUBLIC BANK will post $4.37 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 26th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Wednesday, October 25th. FIRST REPUBLIC BANK’s dividend payout ratio (DPR) is presently 16.04%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Nova Scotia purchased a new stake in FIRST REPUBLIC BANK in the first quarter worth about $483,000. Barnett & Company Inc. purchased a new stake in FIRST REPUBLIC BANK in the second quarter worth about $100,000. Whittier Trust Co. of Nevada Inc. grew its holdings 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 purchasing an additional 537 shares during the period. Shine Investment Advisory Services Inc. purchased a new stake in FIRST REPUBLIC BANK in the second quarter worth about $128,000. Finally, Parallel Advisors LLC grew its holdings in FIRST REPUBLIC BANK by 21.4% in the second quarter. Parallel Advisors LLC now owns 1,317 shares of the bank’s stock worth $132,000 after purchasing an additional 232 shares during the period. Institutional investors and hedge funds own 97.55% of the company’s stock.
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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