Raymond James downgraded shares of First Republic Bank (NYSE:FRC) to a hold rating in a research report released on Monday morning, Stock Target Advisor reports.
A number of other research analysts have also issued reports on FRC. BMO Capital Markets lifted their target price on Citigroup from $92.00 to $93.00 and gave the stock an outperform rating in a report on Monday, April 15th. Credit Suisse Group started coverage on First Republic Bank in a report on Friday, June 14th. They set a neutral rating and a $105.00 target price on the stock. Zacks Investment Research raised SCHNEIDER ELEC /ADR from a hold rating to a buy rating and set a $20.00 target price on the stock in a report on Friday, July 5th. Maxim Group set a $45.00 target price on ABM Industries and gave the stock a buy rating in a report on Friday, April 12th. Finally, Wells Fargo & Co set a $68.00 target price on Emergent Biosolutions and gave the stock a hold rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. First Republic Bank has a consensus rating of Hold and an average target price of $103.43.
Shares of NYSE FRC opened at $101.14 on Monday. First Republic Bank has a fifty-two week low of $79.42 and a fifty-two week high of $107.75. The company’s 50-day moving average is $97.96. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $16.77 billion, a PE ratio of 21.03, a P/E/G ratio of 1.69 and a beta of 0.90.
First Republic Bank (NYSE:FRC) last released its earnings results on Friday, April 12th. The bank reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.04. The firm had revenue of $807.36 million for the quarter, compared to analyst estimates of $813.99 million. First Republic Bank had a return on equity of 11.56% and a net margin of 23.61%. During the same period in the previous year, the company earned $1.13 earnings per share. Analysts expect that First Republic Bank will post 5.25 EPS for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of FRC. Destination Wealth Management purchased a new position in First Republic Bank in the 1st quarter worth about $32,000. Carroll Financial Associates Inc. increased its stake in First Republic Bank by 112.6% in the 1st quarter. Carroll Financial Associates Inc. now owns 404 shares of the bank’s stock worth $40,000 after purchasing an additional 214 shares in the last quarter. Captrust Financial Advisors increased its stake in First Republic Bank by 199.4% in the 4th quarter. Captrust Financial Advisors now owns 521 shares of the bank’s stock worth $45,000 after purchasing an additional 347 shares in the last quarter. First Personal Financial Services increased its stake in First Republic Bank by 61.5% in the 1st quarter. First Personal Financial Services now owns 507 shares of the bank’s stock worth $51,000 after purchasing an additional 193 shares in the last quarter. Finally, Clean Yield Group purchased a new position in First Republic Bank in the 1st quarter worth about $52,000.
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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