Share on StockTwits

First Republic Bank (NYSE:FRC) was downgraded by stock analysts at FIG Partners to a “market perform” rating in a report issued on Thursday.

Shares of First Republic Bank (NYSE:FRC) opened at 46.70 on Thursday. First Republic Bank has a 52 week low of $42.02 and a 52 week high of $56.18. The stock’s 50-day moving average is $53.77 and its 200-day moving average is $52.21. The company has a market cap of $6.427 billion and a P/E ratio of 18.46.

First Republic Bank (NYSE:FRC) last posted its quarterly earnings results on Wednesday, July 16th. The company reported $0.76 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.76. The company had revenue of $388.80 million for the quarter, compared to the consensus estimate of $410.56 million. During the same quarter last year, the company posted $0.77 earnings per share. First Republic Bank’s revenue was up 17.2% compared to the same quarter last year. Analysts expect that First Republic Bank will post $3.07 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, August 15th. Stockholders of record on Friday, August 1st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.20%.

A number of other firms have also recently commented on FRC. Analysts at Raymond James upgraded shares of First Republic Bank from an “outperform” rating to a “strong-buy” rating in a research note on Thursday. They now have a $55.00 price target on the stock, down previously from $58.00. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of First Republic Bank in a research note on Thursday. They now have a $51.00 price target on the stock. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. First Republic Bank has a consensus rating of “Buy” and an average price target of $55.93.

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.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.