First Republic Bank (FRC) Price Target Increased to $85.00 by Analysts at Deutsche Bank AG
First Republic Bank (NYSE:FRC) had its price target increased by investment analysts at Deutsche Bank AG from $83.00 to $85.00 in a research report issued to clients and investors on Tuesday. The firm presently has a “hold” rating on the stock. Deutsche Bank AG’s price target suggests a potential upside of 8.05% from the company’s previous close.
Several other brokerages also recently weighed in on FRC. Zacks Investment Research downgraded First Republic Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, October 5th. Barclays PLC lifted their target price on First Republic Bank from $78.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, August 11th. BMO Capital Markets reiterated a “market perform” rating and set a $71.00 price target on shares of First Republic Bank in a research note on Friday, July 15th. FBR & Co reiterated a “hold” rating on shares of First Republic Bank in a research note on Sunday, July 17th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating on shares of First Republic Bank in a research note on Sunday, July 17th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $76.46.
Shares of First Republic Bank (NYSE:FRC) traded down 1.429% during mid-day trading on Tuesday, hitting $77.546. The company had a trading volume of 292,130 shares. The firm has a market capitalization of $11.62 billion, a P/E ratio of 21.764 and a beta of 1.06. First Republic Bank has a 12 month low of $56.32 and a 12 month high of $79.15. The firm has a 50-day moving average price of $76.46 and a 200 day moving average price of $71.55.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/first-republic-bank-frc-price-target-increased-to-85-00-by-analysts-at-deutsche-bank-ag.html
First Republic Bank (NYSE:FRC) last announced its earnings results on Thursday, July 14th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.06. First Republic Bank had a return on equity of 12.59% and a net margin of 27.20%. The company had revenue of $535.10 million for the quarter, compared to the consensus estimate of $568.53 million. During the same period last year, the business posted $0.73 EPS. On average, equities research analysts forecast that First Republic Bank will post $3.91 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. Gofen & Glossberg LLC IL boosted its position in First Republic Bank by 5.1% in the third quarter. Gofen & Glossberg LLC IL now owns 5,960 shares of the company’s stock worth $460,000 after buying an additional 290 shares during the period. First American Bank boosted its position in First Republic Bank by 0.5% in the third quarter. First American Bank now owns 124,450 shares of the company’s stock worth $9,597,000 after buying an additional 629 shares during the period. Macquarie Group Ltd. boosted its position in First Republic Bank by 1,440.0% in the second quarter. Macquarie Group Ltd. now owns 53,900 shares of the company’s stock worth $3,772,000 after buying an additional 50,400 shares during the period. KAMES CAPITAL plc boosted its position in First Republic Bank by 37.8% in the second quarter. KAMES CAPITAL plc now owns 1,113,096 shares of the company’s stock worth $77,883,000 after buying an additional 305,130 shares during the period. Finally, Royal Bank of Canada boosted its position in First Republic Bank by 66.9% in the second quarter. Royal Bank of Canada now owns 2,320,272 shares of the company’s stock worth $162,397,000 after buying an additional 929,702 shares during the period. 98.24% of the stock is owned by institutional investors.
First Republic Bank Company Profile
First Republic Bank is a commercial bank and trust company. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States.
Receive News & Ratings for First Republic Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Republic Bank and related companies with MarketBeat.com's FREE daily email newsletter.