First Republic Bank Receives Buy Rating from Goldman Sachs Group Inc. (FRC)
First Republic Bank (NYSE:FRC)‘s stock had its “buy” rating reiterated by equities research analysts at Goldman Sachs Group Inc. in a research note issued to investors on Tuesday, StockRatingsNetwork.com reports. They currently have a $52.00 price target on the stock. Goldman Sachs Group Inc.’s price objective would indicate a potential upside of 13.44% from the company’s current price.
A number of other firms have also recently commented on FRC. Analysts at Raymond James raised their price target on shares of First Republic Bank from $45.00 to $51.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, 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. 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 given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $46.58.
Shares of First Republic Bank (NYSE:FRC) traded down 1.57% on Tuesday, hitting $45.84. The stock had a trading volume of 507,019 shares. First Republic Bank has a one year low of $31.42 and a one year 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 issued its quarterly 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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