First Republic Bank Price Target Increased to $51.00 by Analysts at Barclays Capital (FRC)
Research analysts at Barclays Capital lifted their price objective on shares of First Republic Bank (NYSE:FRC) from $47.00 to $51.00 in a report released on Tuesday, StockRatingsNetwork.com reports. The firm currently has an “overweight” rating on the stock. Barclays Capital’s target price suggests a potential upside of 11.26% from the company’s current price.
Shares of First Republic Bank (NYSE:FRC) traded down 1.57% on Tuesday, hitting $45.84. 507,019 shares of the company’s stock traded hands. First Republic Bank has a 52-week low of $31.42 and a 52-week high of $47.50. The stock has a 50-day moving average of $45.75 and a 200-day moving average of $41.15. The company has a market cap of $6.046 billion and a price-to-earnings ratio of 15.02.
First Republic Bank (NYSE:FRC) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. During the same quarter in the previous year, the company posted $0.60 earnings per share. Analysts expect that First Republic Bank will post $3.14 EPS for the current fiscal year.
A number of other firms have also recently commented on FRC. Analysts at Goldman Sachs Group Inc. raised their price target on shares of First Republic Bank from $48.00 to $52.00 in a research note to investors on Tuesday, September 17th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of First Republic Bank in a research note to investors on Thursday, September 12th. They now have a $48.00 price target on the stock. Finally, analysts at BMO Capital Markets reiterated an “outperform” rating on shares of First Republic Bank in a research note to investors on Thursday, September 12th. They now have a $50.00 price target on the stock, up previously from $46.00. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $46.58.
First Republic Bank is a full-service bank and wealth management firm. First Republic Bank and its subsidiaries provide private banking, private business banking and private wealth management, including investment, trust and brokerage services.
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