First Republic Bank Price Target Raised to $51.00 at Raymond James (FRC)
Analysts at Raymond James hoisted their price target on shares of First Republic Bank (NYSE:FRC) from $45.00 to $51.00 in a research report issued to clients and investors on Tuesday, AnalystRatings.NET reports. The firm currently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 11.26% from the stock’s previous close.
A number of other analysts have also recently weighed in on FRC. Analysts at Barclays Capital raised their price target on shares of First Republic Bank from $47.00 to $51.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Separately, 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. Finally, 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. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $46.58.
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 one year low of $31.42 and a one year high of $47.50. The stock’s 50-day moving average is $45.75 and its 200-day moving average is $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 released its earnings data 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. On average, analysts predict that First Republic Bank will post $3.14 earnings per share for the current fiscal year.
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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