First Republic Bank (NYSE:FRC) was downgraded by Barclays from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday, The Fly reports. They currently have a $126.00 price objective on the bank’s stock. Barclays‘s target price would indicate a potential upside of 7.08% from the stock’s previous close.
Several other analysts also recently commented on the company. Maxim Group increased their target price on First Republic Bank from $116.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. increased their price target on First Republic Bank from $118.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Citigroup increased their price target on First Republic Bank from $111.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. BMO Capital Markets increased their price target on First Republic Bank from $97.00 to $103.00 and gave the company a “market perform” rating in a report on Wednesday, October 16th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their price target on First Republic Bank from $100.00 to $108.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $109.50.
FRC opened at $117.67 on Monday. First Republic Bank has a one year low of $83.68 and a one year high of $118.43. The business has a 50 day simple moving average of $113.22 and a two-hundred day simple moving average of $101.47. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $19.82 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 3.78 and a beta of 0.91.
First Republic Bank (NYSE:FRC) last posted its earnings results on Tuesday, October 15th. The bank reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.10. First Republic Bank had a return on equity of 11.23% and a net margin of 22.69%. The firm had revenue of $837.19 million for the quarter, compared to the consensus estimate of $830.60 million. During the same quarter in the prior year, the business earned $1.19 EPS. As a group, sell-side analysts expect that First Republic Bank will post 5.07 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in FRC. CWM LLC raised its holdings in First Republic Bank by 506.8% in the 3rd quarter. CWM LLC now owns 267 shares of the bank’s stock worth $26,000 after purchasing an additional 223 shares during the period. Squar Milner Financial Services LLC raised its holdings in First Republic Bank by 409.1% in the 3rd quarter. Squar Milner Financial Services LLC now owns 280 shares of the bank’s stock worth $27,000 after purchasing an additional 225 shares during the period. Prime Capital Investment Advisors LLC bought a new position in First Republic Bank in the 3rd quarter worth $31,000. CSat Investment Advisory L.P. raised its holdings in First Republic Bank by 113.6% in the 2nd quarter. CSat Investment Advisory L.P. now owns 361 shares of the bank’s stock worth $35,000 after purchasing an additional 192 shares during the period. Finally, Commonwealth Bank of Australia raised its holdings in First Republic Bank by 34.5% in 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 period.
First Republic Bank Company Profile
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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