First Republic Bank Given New $55.00 Price Target at FBR Capital Markets (FRC)
FBR Capital Markets lifted their target price on shares of First Republic Bank (NYSE:FRC) to $55.00 in a research note issued on Friday, AmericanBankingNews.com reports. The firm currently has an “outperform” rating on the stock. FBR Capital Markets’ price target would suggest a potential upside of 6.40% from the company’s current price.
Shares of First Republic Bank (NYSE:FRC) traded down 0.45% during mid-day trading on Friday, hitting $51.455. 115,371 shares of the company’s stock traded hands. First Republic Bank has a 52 week low of $35.10 and a 52 week high of $52.94. The stock has a 50-day moving average of $51.45 and a 200-day moving average of $47.31. The company has a market cap of $6.812 billion and a P/E ratio of 16.51.
First Republic Bank (NYSE:FRC) last posted its quarterly earnings results on Thursday, January 16th. The company reported $0.66 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.75 by $0.09. The company had revenue of $371.00 million for the quarter, compared to the consensus estimate of $326.24 million. During the same quarter in the prior year, the company posted $0.77 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Analysts expect that First Republic Bank will post $3.10 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of 0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.93%.
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 $52.00 to $56.00 in a research note to investors on Wednesday, January 8th. They now have a “hold” rating on the stock. Separately, analysts at BMO Capital Markets downgraded shares of First Republic Bank from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday, January 7th. They now have a $55.00 price target on the stock, up previously from $53.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of First Republic Bank in a research note to investors on Wednesday, December 4th. They now have a $53.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $53.36.
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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