Keefe, Bruyette & Woods restated their hold rating on shares of First Republic Bank (NYSE:FRC) in a research note issued to investors on Thursday. They currently have a $94.00 price objective on the bank’s stock.
FRC has been the topic of a number of other research reports. UBS started coverage on shares of First Republic Bank in a research report on Wednesday, March 21st. They set a neutral rating and a $100.00 target price on the stock. Zacks Investment Research lowered shares of First Republic Bank from a hold rating to a sell rating in a research report on Monday, January 22nd. Royal Bank of Canada reaffirmed a hold rating on shares of First Republic Bank in a research report on Wednesday, January 17th. Barclays boosted their target price on shares of First Republic Bank from $98.00 to $101.00 and gave the stock an equal weight rating in a research report on Tuesday, January 2nd. Finally, Morgan Stanley reaffirmed an equal weight rating and set a $106.00 target price on shares of First Republic Bank in a research report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. First Republic Bank presently has an average rating of Hold and an average price target of $102.57.
Shares of FRC stock opened at $89.83 on Thursday. First Republic Bank has a 1 year low of $84.56 and a 1 year high of $105.52. The firm has a market cap of $14,171.31, a P/E ratio of 20.84, a P/E/G ratio of 1.49 and a beta of 0.82. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.94 and a current ratio of 0.94.
First Republic Bank (NYSE:FRC) last announced its earnings results on Tuesday, January 16th. The bank reported $1.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.05). First Republic Bank had a return on equity of 11.80% and a net margin of 26.02%. The company had revenue of $699.20 million for the quarter, compared to the consensus estimate of $688.48 million. During the same period last year, the firm posted $1.03 EPS. The company’s revenue was up 16.6% compared to the same quarter last year. analysts predict that First Republic Bank will post 4.76 EPS for the current year.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in First Republic Bank by 17.0% in the 4th quarter. BlackRock Inc. now owns 12,442,562 shares of the bank’s stock valued at $1,078,026,000 after buying an additional 1,804,494 shares during the period. Standard Life Aberdeen plc increased its holdings in First Republic Bank by 12.9% in the 4th quarter. Standard Life Aberdeen plc now owns 4,394,048 shares of the bank’s stock valued at $380,633,000 after buying an additional 503,111 shares during the period. C WorldWide Group Holding A S increased its holdings in First Republic Bank by 0.8% in the 4th quarter. C WorldWide Group Holding A S now owns 3,245,723 shares of the bank’s stock valued at $281,210,000 after buying an additional 24,802 shares during the period. Goldman Sachs Group Inc. increased its holdings in First Republic Bank by 20.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,193,530 shares of the bank’s stock valued at $190,047,000 after buying an additional 367,961 shares during the period. Finally, Virtus Fund Advisers LLC increased its holdings in First Republic Bank by 170.3% in the 4th quarter. Virtus Fund Advisers LLC now owns 1,234,325 shares of the bank’s stock valued at $106,942,000 after buying an additional 777,750 shares during the period. 99.08% of the stock is currently owned by hedge funds and other institutional investors.
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First Republic Bank Company Profile
First Republic Bank, Inc engages in the provision of private banking, private business banking, and private wealth management, including investment, trust and brokerage services through its subsidiaries. Its services includes checking, savings, money market, online and mobile banking, automated teller machine (ATM) card and ATM/debit card, student loan refinancing, residential and personal lending, foreign exchange, business lending by industry, general business loans, commercial real estate and construction loans, business lines of credit, corporate online, treasury services, endowment management, and financial planning.
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