FIRST REPUBLIC BANK (FRC) PT Set at $99.00 by Piper Jaffray Companies
A number of other equities research analysts have also weighed in on FRC. Keefe, Bruyette & Woods reiterated a hold rating and set a $87.00 target price on shares of FIRST REPUBLIC BANK in a research note on Friday, October 13th. Barclays PLC lowered shares of FIRST REPUBLIC BANK from an overweight rating to an equal weight rating and decreased their target price for the company from $108.00 to $104.00 in a research note on Tuesday, October 10th. Jefferies Group LLC boosted their price objective on shares of FIRST REPUBLIC BANK from $109.00 to $120.00 and gave the company a buy rating in a research report on Friday, September 29th. BidaskClub downgraded shares of FIRST REPUBLIC BANK from a buy rating to a hold rating in a research report on Thursday, July 13th. Finally, Royal Bank Of Canada reissued a hold rating on shares of FIRST REPUBLIC BANK in a research report on Friday, September 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $103.57.
FIRST REPUBLIC BANK (NYSE:FRC) opened at 96.77 on Friday. The stock has a 50 day moving average price of $99.51 and a 200 day moving average price of $97.37. FIRST REPUBLIC BANK has a 12-month low of $72.43 and a 12-month high of $105.52. The company has a market capitalization of $15.28 billion, a price-to-earnings ratio of 22.82 and a beta of 1.01.
FIRST REPUBLIC BANK (NYSE:FRC) last announced its earnings results on Friday, October 13th. The bank reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The company had revenue of $670.30 million for the quarter, compared to analysts’ expectations of $678.25 million. FIRST REPUBLIC BANK had a net margin of 26.85% and a return on equity of 12.06%. FIRST REPUBLIC BANK’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 earnings per share. On average, analysts expect that FIRST REPUBLIC BANK will post $4.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 26th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Wednesday, October 25th. FIRST REPUBLIC BANK’s dividend payout ratio (DPR) is currently 16.04%.
A number of institutional investors have recently bought and sold shares of FRC. Barnett & Company Inc. purchased a new stake in FIRST REPUBLIC BANK in the 2nd quarter worth about $100,000. Whittier Trust Co. of Nevada Inc. raised its position in FIRST REPUBLIC BANK by 100.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,071 shares of the bank’s stock worth $107,000 after purchasing an additional 537 shares during the period. Shine Investment Advisory Services Inc. purchased a new stake in FIRST REPUBLIC BANK in the 2nd quarter worth about $128,000. Parallel Advisors LLC raised its position in FIRST REPUBLIC BANK by 21.4% in the 2nd quarter. Parallel Advisors LLC now owns 1,317 shares of the bank’s stock worth $132,000 after purchasing an additional 232 shares during the period. Finally, Creative Planning raised its position in FIRST REPUBLIC BANK by 21.3% in the 2nd quarter. Creative Planning now owns 1,407 shares of the bank’s stock worth $141,000 after purchasing an additional 247 shares during the period. 97.72% of the stock is currently owned by institutional investors.
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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