First Republic Bank (NYSE:FRC) had its price objective boosted by Wells Fargo & Co from $100.00 to $110.00 in a research note released on Wednesday, The Fly reports. Wells Fargo & Co currently has an outperform rating on the bank’s stock.
Other equities analysts have also issued research reports about the stock. Piper Jaffray Companies reiterated a hold rating and set a $94.00 price target on shares of First Republic Bank in a report on Tuesday, October 9th. Raymond James set a $104.00 price target on shares of First Republic Bank and gave the stock a buy rating in a report on Monday, October 15th. Morgan Stanley cut their price target on shares of First Republic Bank from $99.00 to $95.00 and set an equal weight rating on the stock in a report on Tuesday, December 11th. Stephens upgraded shares of First Republic Bank from an equal weight rating to an overweight rating in a report on Thursday, December 20th. Finally, Robert W. Baird initiated coverage on shares of First Republic Bank in a report on Thursday, December 20th. They set a neutral rating and a $92.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $102.15.
Shares of First Republic Bank stock opened at $96.02 on Wednesday. First Republic Bank has a fifty-two week low of $79.42 and a fifty-two week high of $106.75. The company has a current ratio of 0.99, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $15.15 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 1.52 and a beta of 0.91.
First Republic Bank (NYSE:FRC) last issued its earnings results on Tuesday, January 15th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. First Republic Bank had a net margin of 23.88% and a return on equity of 11.62%. The firm had revenue of $810.75 million for the quarter, compared to analyst estimates of $812.10 million. During the same quarter last year, the business posted $1.10 earnings per share. The company’s quarterly revenue was up 16.0% on a year-over-year basis. Equities analysts anticipate that First Republic Bank will post 5.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Thursday, January 31st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Wednesday, January 30th. First Republic Bank’s dividend payout ratio is presently 14.97%.
A number of hedge funds and other institutional investors have recently made changes to their positions in FRC. Heritage Trust Co bought a new stake in First Republic Bank in the fourth quarter valued at $95,000. Douglas Lane & Associates LLC increased its stake in First Republic Bank by 4.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 875,870 shares of the bank’s stock valued at $76,113,000 after purchasing an additional 40,660 shares in the last quarter. Highwater Wealth Management LLC bought a new stake in First Republic Bank in the fourth quarter valued at $135,000. Personal Capital Advisors Corp increased its stake in First Republic Bank by 2.0% in the fourth quarter. Personal Capital Advisors Corp now owns 282,919 shares of the bank’s stock valued at $24,586,000 after purchasing an additional 5,607 shares in the last quarter. Finally, Daiwa SB Investments Ltd. increased its stake in First Republic Bank by 9.0% in the fourth quarter. Daiwa SB Investments Ltd. now owns 4,970 shares of the bank’s stock valued at $432,000 after purchasing an additional 410 shares in the last quarter.
About First Republic Bank
First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas of the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers deposit products, such as checking, money market checking, savings, and passbook deposits, as well as certificates of deposit.
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