First Republic Bank (FRC) Receives “Buy” Rating from Jefferies Group
First Republic Bank (NYSE:FRC)‘s stock had its “buy” rating reaffirmed by equities research analysts at Jefferies Group in a report released on Wednesday. They presently have a $85.00 price objective on the stock. Jefferies Group’s target price points to a potential upside of 14.43% from the company’s previous close.
Several other brokerages have also weighed in on FRC. Deutsche Bank AG lifted their target price on shares of First Republic Bank from $83.00 to $85.00 and gave the company a “hold” rating in a research report on Tuesday, October 11th. Zacks Investment Research lowered shares of First Republic Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Maxim Group lifted their target price on shares of First Republic Bank from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, October 14th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of First Republic Bank in a research report on Friday, October 14th. Finally, FBR & Co boosted their price target on shares of First Republic Bank from $73.00 to $80.00 and gave the company a “mkt perform” rating in a research report on Friday, October 14th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. First Republic Bank has a consensus rating of “Buy” and an average price target of $77.38.
First Republic Bank (NYSE:FRC) opened at 74.28 on Wednesday. First Republic Bank has a 1-year low of $56.32 and a 1-year high of $79.15. The firm has a market cap of $11.13 billion, a price-to-earnings ratio of 20.85 and a beta of 1.06. The company’s 50 day moving average is $76.57 and its 200-day moving average is $71.87.
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 http://www.americanbankingnews.com/2016/10/19/first-republic-bank-frc-receives-buy-rating-from-jefferies-group.html
First Republic Bank (NYSE:FRC) last issued its earnings results on Thursday, October 13th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.01. First Republic Bank had a net margin of 27.68% and a return on equity of 12.95%. The business had revenue of $557.90 million for the quarter, compared to analyst estimates of $592.65 million. During the same period in the previous year, the business earned $0.79 EPS. The firm’s revenue was up 10.6% on a year-over-year basis. On average, analysts predict that First Republic Bank will post $3.91 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Thursday, October 27th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, October 25th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.86%. First Republic Bank’s payout ratio is currently 17.34%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GW&K Investment Management LLC boosted its position in First Republic Bank by 17.0% in the third quarter. GW&K Investment Management LLC now owns 424,053 shares of the company’s stock worth $32,699,000 after buying an additional 61,656 shares during the last quarter. Sarasin & Partners LLP bought a new position in First Republic Bank during the third quarter worth $42,181,000. National Pension Service boosted its position in First Republic Bank by 9.3% in the third quarter. National Pension Service now owns 130,728 shares of the company’s stock worth $10,080,000 after buying an additional 11,093 shares during the last quarter. Private Trust Co. NA boosted its position in First Republic Bank by 34.5% in the third quarter. Private Trust Co. NA now owns 13,259 shares of the company’s stock worth $1,022,000 after buying an additional 3,400 shares during the last quarter. Finally, Howland Capital Management LLC boosted its position in First Republic Bank by 17.9% in the third quarter. Howland Capital Management LLC now owns 126,502 shares of the company’s stock worth $9,755,000 after buying an additional 19,225 shares during the last quarter. 98.21% of the stock is currently owned by hedge funds and other 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.