UBS initiated coverage on shares of First Republic Bank (NYSE:FRC) in a report released on Wednesday. The brokerage set a “neutral” rating and a $100.00 price target on the bank’s stock. UBS’s price target indicates a potential upside of 8.57% from the company’s previous close.
FRC has been the topic of several other research reports. Barclays upgraded shares of First Republic Bank from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $93.00 to $110.00 in a research report on Tuesday, March 6th. Keefe, Bruyette & Woods restated a “hold” rating on shares of First Republic Bank in a research report on Wednesday, January 17th. Royal Bank of Canada restated a “hold” rating on shares of First Republic Bank in a research report on Wednesday, January 17th. Maxim Group restated a “buy” rating and set a $110.00 price objective on shares of First Republic Bank in a research report on Thursday, January 4th. Finally, Zacks Investment Research cut shares of First Republic Bank from a “hold” rating to a “sell” rating in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. First Republic Bank currently has a consensus rating of “Hold” and an average target price of $102.64.
FRC stock opened at $92.11 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.46. First Republic Bank has a fifty-two week low of $84.56 and a fifty-two week high of $105.52. The company has a market cap of $15,111.50, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 1.59 and a beta of 0.84.
First Republic Bank (NYSE:FRC) last posted its quarterly earnings data on Tuesday, January 16th. The bank reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.05). The company had revenue of $699.20 million for the quarter, compared to analysts’ expectations of $688.48 million. First Republic Bank had a net margin of 26.02% and a return on equity of 11.80%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. equities research analysts anticipate that First Republic Bank will post 4.74 earnings per share for the current year.
Large investors have recently modified their holdings of the stock. YorkBridge Wealth Partners LLC raised its position in First Republic Bank by 3,865.5% in the 4th quarter. YorkBridge Wealth Partners LLC now owns 1,150 shares of the bank’s stock worth $101,000 after purchasing an additional 1,121 shares during the period. Cerebellum GP LLC purchased a new position in First Republic Bank in the 4th quarter worth $127,000. Zions Bancorporation purchased a new position in First Republic Bank in the 3rd quarter worth $160,000. Intrust Bank NA purchased a new position in First Republic Bank in the 4th quarter worth $203,000. Finally, Mawer Investment Management Ltd. purchased a new position in First Republic Bank in the 3rd quarter worth $209,000. Institutional investors own 99.00% of the company’s stock.
About First Republic Bank
First Republic Bank is a commercial bank and trust company. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States.
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