First Republic Bank (FRC) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS
First Republic Bank (NYSE:FRC) issued its quarterly earnings data on Wednesday. The company reported $0.67 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.72 by $0.05, AmericanBankingNews.com reports. During the same quarter in the prior year, the company posted $0.72 earnings per share.
First Republic Bank (NYSE:FRC) opened at 52.36 on Wednesday. First Republic Bank has a one year low of $36.43 and a one year high of $56.18. The stock has a 50-day moving average of $53.34 and a 200-day moving average of $51.0. The company has a market cap of $6.954 billion and a price-to-earnings ratio of 16.89.
A number of analysts have recently weighed in on FRC shares. Analysts at Barclays raised their price target on shares of First Republic Bank from $60.00 to $62.00 in a research note on Wednesday, April 9th. On the ratings front, analysts at Goldman Sachs downgraded shares of First Republic Bank from a “cl” rating to a “buy” rating in a research note on Thursday, April 3rd. They now have a $61.00 price target on the stock. Finally, analysts at Morgan Stanley raised their price target on shares of First Republic Bank from $56.00 to $59.00 in a research note on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. First Republic Bank has an average rating of “Hold” and a consensus price target of $56.07.
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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