First Republic Bank Stock Rating Reaffirmed by Jefferies Group (FRC)
First Republic Bank (NYSE:FRC)‘s stock had its “hold” rating restated by equities research analysts at Jefferies Group in a research note issued to investors on Wednesday, AnalystRatings.NET reports. They currently have a $53.00 target price on the stock. Jefferies Group’s target price suggests a potential upside of 9.50% from the stock’s previous close.
First Republic Bank (NYSE:FRC) traded up 2.15% during mid-day trading on Wednesday, hitting $48.40. 1,904,482 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 $47.82. The stock has a 50-day moving average of $46.09 and a 200-day moving average of $41.50. The company has a market cap of $6.384 billion and a price-to-earnings ratio of 15.28.
First Republic Bank (NYSE:FRC) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.75 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.76 by $0.01. The company had revenue of $361.80 million for the quarter, compared to the consensus estimate of $319.20 million. During the same quarter last year, the company posted $0.72 earnings per share. First Republic Bank’s revenue was up 5.6% compared to the same quarter last year. On average, analysts predict that First Republic Bank will post $3.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Wednesday, October 30th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank raised their price target on shares of First Republic Bank from $48.00 to $52.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Maxim Group raised their price target on shares of First Republic Bank from $50.00 to $55.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Evercore Partners downgraded shares of First Republic Bank from an “overweight” rating to an “equal weight” rating in a research note to investors on Wednesday. They now have a $50.00 price target on the stock. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $49.65.
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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