First Republic Bank (NYSE:FRC) had its price objective raised by Bank of America from $139.00 to $140.00 in a research note issued to investors on Friday morning, AnalystRatings.com reports. They currently have a buy rating on the bank’s stock.
FRC has been the topic of a number of other reports. Maxim Group lifted their target price on shares of First Republic Bank from $110.00 to $120.00 and gave the company a buy rating in a report on Wednesday, April 15th. Compass Point boosted their price objective on shares of First Republic Bank from $115.00 to $118.00 and gave the company a buy rating in a research note on Wednesday, May 13th. Atlantic Securities raised shares of First Republic Bank from an underweight rating to a neutral rating and set a $95.00 price objective on the stock in a research note on Tuesday, May 5th. UBS Group boosted their price objective on shares of First Republic Bank from $79.00 to $106.00 and gave the company a neutral rating in a research note on Friday, May 15th. Finally, TheStreet raised shares of First Republic Bank from a c+ rating to a b- rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $112.00.
Shares of First Republic Bank stock opened at $105.48 on Friday. The firm’s fifty day simple moving average is $107.61 and its 200-day simple moving average is $105.19. The stock has a market capitalization of $18.08 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 4.04 and a beta of 1.18. First Republic Bank has a 12 month low of $70.06 and a 12 month high of $125.12. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.06 and a quick ratio of 1.05.
First Republic Bank (NYSE:FRC) last announced its earnings results on Tuesday, April 14th. The bank reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. The business had revenue of $916.20 million for the quarter, compared to analysts’ expectations of $882.80 million. First Republic Bank had a net margin of 21.46% and a return on equity of 10.64%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 EPS. Analysts anticipate that First Republic Bank will post 5.05 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. Vigilant Capital Management LLC boosted its position in shares of First Republic Bank by 0.4% in the 2nd quarter. Vigilant Capital Management LLC now owns 153,664 shares of the bank’s stock worth $16,287,000 after buying an additional 680 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of First Republic Bank by 166.5% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 29,573 shares of the bank’s stock worth $3,134,000 after buying an additional 18,475 shares in the last quarter. Whittier Trust Co. boosted its position in shares of First Republic Bank by 100.3% in the 2nd quarter. Whittier Trust Co. now owns 75,263 shares of the bank’s stock worth $7,977,000 after buying an additional 37,688 shares in the last quarter. Hexavest Inc. purchased a new stake in shares of First Republic Bank in the 2nd quarter worth about $9,487,000. Finally, Canandaigua National Corp purchased a new stake in shares of First Republic Bank in the 2nd quarter worth about $257,000. Institutional investors and hedge funds own 97.91% of the company’s stock.
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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