First Republic Bank’s (FRC) Hold Rating Reiterated at Keefe, Bruyette & Woods
First Republic Bank (NYSE:FRC)‘s stock had its “hold” rating reiterated by analysts at Keefe, Bruyette & Woods in a report issued on Friday.
Several other research analysts have also weighed in on FRC. Jefferies Group reissued a “buy” rating and set a $80.00 price objective on shares of First Republic Bank in a report on Thursday, July 7th. BMO Capital Markets restated a “hold” rating and issued a $70.00 price target on shares of First Republic Bank in a research report on Thursday, July 7th. JPMorgan Chase & Co. restated a “buy” rating on shares of First Republic Bank in a research report on Saturday, July 9th. FBR & Co raised their price target on shares of First Republic Bank from $70.00 to $73.00 and gave the stock a “mkt perform” rating in a research report on Friday, July 15th. Finally, Zacks Investment Research upgraded shares of First Republic Bank from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Tuesday, July 19th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. First Republic Bank has an average rating of “Buy” and an average target price of $77.23.
Shares of First Republic Bank (NYSE:FRC) traded up 0.97% on Friday, reaching $74.71. 227,923 shares of the company were exchanged. First Republic Bank has a 52-week low of $56.32 and a 52-week high of $79.15. The stock has a 50 day moving average of $76.68 and a 200-day moving average of $71.65. The company has a market capitalization of $11.19 billion, a P/E ratio of 20.97 and a beta of 1.06.
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First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Thursday, October 13th. The company reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.01. The company earned $557.90 million during the quarter, compared to analyst estimates of $592.65 million. First Republic Bank had a net margin of 27.20% and a return on equity of 12.59%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the business earned $0.79 EPS. On average, analysts predict that First Republic Bank will post $3.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Thursday, October 27th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, October 25th. First Republic Bank’s dividend payout ratio (DPR) is currently 18.23%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Trust N.A. increased its position in First Republic Bank by 0.6% in the third quarter. Raymond James Trust N.A. now owns 2,984 shares of the company’s stock valued at $230,000 after buying an additional 18 shares during the period. Franklin Resources Inc. increased its position in shares of First Republic Bank by 1.4% in the second quarter. Franklin Resources Inc. now owns 3,904 shares of the company’s stock worth $273,000 after buying an additional 55 shares during the last quarter. Moody Lynn & Lieberson LLC increased its position in shares of First Republic Bank by 1.3% in the second quarter. Moody Lynn & Lieberson LLC now owns 7,246 shares of the company’s stock worth $507,000 after buying an additional 93 shares during the last quarter. Cambridge Trust Co. increased its position in shares of First Republic Bank by 4.1% in the second quarter. Cambridge Trust Co. now owns 4,811 shares of the company’s stock worth $337,000 after buying an additional 188 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its position in shares of First Republic Bank by 0.7% in the first quarter. Loomis Sayles & Co. L P now owns 34,120 shares of the company’s stock worth $2,274,000 after buying an additional 226 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.
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.
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