First Republic Bank Rating Lowered to Hold at Deutsche Bank (FRC)
First Republic Bank (NYSE:FRC) was downgraded by investment analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays raised their price target on shares of First Republic Bank from $52.00 to $60.00 in a research note to investors on Thursday, October 24th. They now have an “overweight” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of First Republic Bank in a research note to investors on Monday, October 21st. They now have a $58.00 price target on the stock. Finally, analysts at RBC Capital reiterated a “hold” rating on shares of First Republic Bank in a research note to investors on Thursday, October 17th. They now have a $50.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. First Republic Bank currently has a consensus rating of “Hold” and a consensus price target of $50.65.
First Republic Bank (NYSE:FRC) traded down 0.48% on Wednesday, hitting $51.185. The stock had a trading volume of 251,043 shares. First Republic Bank has a 52 week low of $31.42 and a 52 week high of $46.01. The stock has a 50-day moving average of $44.49 and a 200-day moving average of $40.05. The company has a market cap of $6.766 billion and a price-to-earnings ratio of 16.43.
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. Analysts expect that First Republic Bank will post $3.12 EPS 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 0.93%. The ex-dividend date is Wednesday, October 30th.
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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