First Republic Bank Receives Average Recommendation of “Hold” from Brokerages (NYSE:FRC)
Shares of First Republic Bank (NYSE:FRC) have received an average recommendation of “Hold” from the sixteen brokerages that are currently covering the company, AnalystRatings.Net reports. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $56.40.
FRC has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of First Republic Bank in a research note on Wednesday, June 4th. They now have a $55.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of First Republic Bank in a research note on Wednesday, April 30th. They now have a $57.00 price target on the stock, up previously from $56.00. Finally, analysts at FIG Partners upgraded shares of First Republic Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 17th. They now have a $59.00 price target on the stock, up previously from $58.00.
First Republic Bank (NYSE:FRC) traded up 0.04% during mid-day trading on Tuesday, hitting $54.44. 50,404 shares of the company’s stock traded hands. First Republic Bank has a 52-week low of $37.13 and a 52-week high of $56.18. The stock has a 50-day moving average of $51.40 and a 200-day moving average of $51.66. The company has a market cap of $7.492 billion and a price-to-earnings ratio of 18.26.
First Republic Bank (NYSE:FRC) last posted its quarterly earnings results on Wednesday, April 16th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by $0.05. During the same quarter in the previous year, the company posted $0.72 earnings per share. On average, analysts predict that First Republic Bank will post $3.06 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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