First Republic Bank (NYSE:FRC) – Equities research analysts at FIG Partners upped their FY2018 EPS estimates for First Republic Bank in a research report issued on Wednesday, Zacks Investment Research reports. FIG Partners analyst T. Coffey now expects that the bank will post earnings per share of $5.73 for the year, up from their previous forecast of $5.17.
Several other brokerages also recently weighed in on FRC. Barclays downgraded shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $108.00 to $104.00 in a research note on Tuesday, October 10th. Royal Bank of Canada restated a “hold” rating on shares of First Republic Bank in a research note on Friday, September 29th. Jefferies Group upped their target price on shares of First Republic Bank from $109.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, September 29th. Zacks Investment Research downgraded shares of First Republic Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, Raymond James Financial decreased their target price on shares of First Republic Bank from $108.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, October 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $103.00.
Shares of First Republic Bank (FRC) opened at $89.99 on Monday. The stock has a market cap of $14,150.00, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 1.43 and a beta of 0.96. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.95. First Republic Bank has a 52 week low of $84.56 and a 52 week high of $105.52.
First Republic Bank (NYSE:FRC) last released its quarterly earnings data on Friday, October 13th. The bank reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $670.30 million for the quarter, compared to analysts’ expectations of $678.25 million. During the same quarter in the prior year, the firm earned $1.00 earnings per share. First Republic Bank’s quarterly revenue was up 20.1% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently bought and sold shares of FRC. Harding Loevner LP raised its holdings in shares of First Republic Bank by 112.9% during the third quarter. Harding Loevner LP now owns 4,734,746 shares of the bank’s stock worth $227,383,000 after purchasing an additional 2,510,888 shares during the period. Artisan Partners Limited Partnership acquired a new stake in shares of First Republic Bank during the second quarter worth $211,296,000. State Street Corp raised its holdings in shares of First Republic Bank by 20.3% during the second quarter. State Street Corp now owns 5,995,443 shares of the bank’s stock worth $600,135,000 after purchasing an additional 1,010,648 shares during the period. BlackRock Inc. raised its holdings in shares of First Republic Bank by 8.9% during the second quarter. BlackRock Inc. now owns 10,708,811 shares of the bank’s stock worth $1,071,954,000 after purchasing an additional 876,812 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of First Republic Bank by 1,796.1% during the second quarter. Janus Henderson Group PLC now owns 744,144 shares of the bank’s stock worth $74,488,000 after purchasing an additional 704,897 shares during the period. 98.75% of the stock is currently owned by hedge funds and other 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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