UBS Group Increases First Republic Bank (NYSE:FRC) Price Target to $105.00

First Republic Bank (NYSE:FRC) had its price target increased by UBS Group from $100.00 to $105.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. They currently have a neutral rating on the bank’s stock.

FRC has been the topic of several other research reports. Royal Bank of Canada boosted their target price on shares of First Republic Bank to $105.00 and gave the company a sector perform rating in a research note on Wednesday. BMO Capital Markets boosted their target price on shares of First Republic Bank from $97.00 to $103.00 and gave the company a market perform rating in a research note on Wednesday. They noted that the move was a valuation call. Bank of America upped their price target on shares of First Republic Bank from $99.00 to $105.00 and gave the stock a neutral rating in a research report on Wednesday. Credit Suisse Group reduced their price target on shares of First Republic Bank from $105.00 to $98.00 and set a neutral rating on the stock in a research report on Thursday, July 18th. Finally, Maxim Group upped their price target on shares of First Republic Bank from $110.00 to $116.00 and gave the stock a buy rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $104.69.

Shares of NYSE:FRC traded up $0.73 on Wednesday, hitting $104.18. The stock had a trading volume of 776,340 shares, compared to its average volume of 1,179,880. First Republic Bank has a twelve month low of $79.42 and a twelve month high of $107.75. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.01 and a current ratio of 1.02. The firm’s 50 day moving average price is $94.56 and its 200-day moving average price is $97.76. The company has a market capitalization of $17.40 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 3.52 and a beta of 0.89.

First Republic Bank (NYSE:FRC) last issued its earnings results on Tuesday, October 15th. The bank reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.10. First Republic Bank had a net margin of 22.69% and a return on equity of 11.23%. The company had revenue of $837.19 million for the quarter, compared to the consensus estimate of $830.60 million. During the same quarter in the previous year, the company earned $1.19 EPS. As a group, sell-side analysts predict that First Republic Bank will post 5.02 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, October 30th. This represents a $0.76 annualized dividend and a yield of 0.73%. First Republic Bank’s dividend payout ratio (DPR) is 15.80%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. TRUE Private Wealth Advisors acquired a new position in First Republic Bank during the 2nd quarter worth about $28,000. CSat Investment Advisory L.P. lifted its position in First Republic Bank by 113.6% during the 2nd quarter. CSat Investment Advisory L.P. now owns 361 shares of the bank’s stock worth $35,000 after buying an additional 192 shares in the last quarter. Commonwealth Bank of Australia raised its holdings in First Republic Bank by 34.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 452 shares of the bank’s stock worth $42,000 after purchasing an additional 116 shares during the last quarter. Atlas Capital Advisors LLC bought a new stake in First Republic Bank during the 2nd quarter worth about $52,000. Finally, SRS Capital Advisors Inc. bought a new stake in First Republic Bank during the 2nd quarter worth about $92,000.

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 in 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, passbook deposits, and individual retirement accounts, as well as certificates of deposit.

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Analyst Recommendations for First Republic Bank (NYSE:FRC)

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