First Republic Bank Stock Rating Reaffirmed by JPMorgan Chase & Co. (FRC)
First Republic Bank (NYSE:FRC)‘s stock had its “overweight” rating restated by stock analysts at JPMorgan Chase & Co. in a report issued on Thursday. They currently have a $58.00 price objective on the stock, down from their previous price objective of $62.50. JPMorgan Chase & Co.’s price target suggests a potential upside of 24.20% from the stock’s previous close.
FRC has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of First Republic Bank in a research note on Thursday. They now have a $52.00 price target on the stock, down previously from $57.00. Separately, analysts at Barclays reiterated an “overweight” rating on shares of First Republic Bank in a research note on Thursday. They now have a $54.00 price target on the stock, down previously from $60.00. Finally, analysts at Bank of America reiterated a “buy” rating on shares of First Republic Bank in a research note on Thursday. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $54.75.
First Republic Bank (NYSE:FRC) traded up 2.32% on Thursday, hitting $47.785. The stock had a trading volume of 9,022,779 shares. 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 $6.576 billion and a price-to-earnings ratio of 15.67.
First Republic Bank (NYSE:FRC) last released its earnings data on Wednesday, July 16th. The company reported $0.76 EPS for the quarter, meeting the Thomson Reuters 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 in the prior year, the company posted $0.77 earnings per share. The company’s quarterly revenue was up 17.2% on a year-over-year basis. Analysts expect that First Republic Bank will post $3.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.20%.
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.