First Republic Bank (FRC) Stock Rating Reaffirmed by Piper Jaffray Companies
First Republic Bank (NYSE:FRC)‘s stock had its “hold” rating restated by investment analysts at Piper Jaffray Companies in a report issued on Friday. They presently have a $99.00 price objective on the bank’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 1.66% from the stock’s previous close.
FRC has been the topic of a number of other reports. BidaskClub cut shares of First Republic Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Jefferies Group LLC reiterated a “buy” rating and set a $109.00 price target on shares of First Republic Bank in a research report on Sunday, June 11th. Royal Bank Of Canada reiterated a “hold” rating and set a $98.00 price target on shares of First Republic Bank in a research report on Friday, July 7th. Morgan Stanley reiterated an “equal weight” rating and set a $104.00 price target (up from $102.00) on shares of First Republic Bank in a research report on Thursday, July 6th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $110.00 price target (up from $101.00) on shares of First Republic Bank in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $104.54.
Shares of First Republic Bank (FRC) traded up 0.34% during midday trading on Friday, hitting $97.38. 405,454 shares of the company traded hands. The stock has a 50 day moving average of $99.16 and a 200-day moving average of $96.20. The stock has a market capitalization of $15.36 billion, a PE ratio of 23.76 and a beta of 1.01. First Republic Bank has a 52 week low of $72.40 and a 52 week high of $104.17.
First Republic Bank (NYSE:FRC) last issued its quarterly earnings results on Friday, July 14th. The bank reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by $0.03. First Republic Bank had a net margin of 27.37% and a return on equity of 12.16%. The business had revenue of $641.30 million for the quarter, compared to the consensus estimate of $671.27 million. During the same quarter in the previous year, the business earned $0.97 earnings per share. The firm’s revenue was up 19.8% on a year-over-year basis. Equities analysts forecast that First Republic Bank will post $4.45 earnings per share for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the company. Daiwa Securities Group Inc. lifted its stake in First Republic Bank by 16.7% in the first quarter. Daiwa Securities Group Inc. now owns 4,550 shares of the bank’s stock worth $427,000 after acquiring an additional 650 shares during the period. Moody Lynn & Lieberson LLC lifted its stake in First Republic Bank by 0.3% in the first quarter. Moody Lynn & Lieberson LLC now owns 110,146 shares of the bank’s stock worth $10,333,000 after acquiring an additional 348 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in First Republic Bank by 112.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 10,520 shares of the bank’s stock worth $1,035,000 after acquiring an additional 5,574 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in First Republic Bank by 0.3% in the first quarter. Diamond Hill Capital Management Inc. now owns 629,463 shares of the bank’s stock worth $59,050,000 after acquiring an additional 1,869 shares during the period. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in First Republic Bank by 7.7% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 7,310 shares of the bank’s stock worth $686,000 after acquiring an additional 525 shares during the period.
First Republic Bank Company Profile
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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