First Republic Bank (NYSE:FRC) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Saturday.

Several other research firms have also commented on FRC. Royal Bank Of Canada reiterated a “hold” rating and issued a $98.00 target price on shares of First Republic Bank in a research note on Friday, July 7th. Keefe, Bruyette & Woods set a $90.00 target price on First Republic Bank and gave the company a “hold” rating in a research note on Friday, May 26th. Jefferies Group LLC reiterated a “buy” rating and issued a $109.00 target price on shares of First Republic Bank in a research note on Sunday, June 11th. Zacks Investment Research upgraded First Republic Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Wedbush reiterated an “outperform” rating and issued a $121.00 target price on shares of First Republic Bank in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $104.54.

First Republic Bank (FRC) traded up 0.25% during trading on Friday, hitting $96.31. The stock had a trading volume of 485,627 shares. First Republic Bank has a one year low of $72.40 and a one year high of $104.17. The stock’s 50-day moving average is $100.51 and its 200 day moving average is $96.01. The firm has a market cap of $15.19 billion, a price-to-earnings ratio of 23.50 and a beta of 0.99.

First Republic Bank (NYSE:FRC) last released its earnings results on Friday, July 14th. The bank reported $1.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by $0.03. The business had revenue of $641.30 million during the quarter, compared to analyst estimates of $671.27 million. First Republic Bank had a net margin of 27.37% and a return on equity of 12.16%. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 earnings per share. Equities analysts anticipate that First Republic Bank will post $4.45 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “BidaskClub Lowers First Republic Bank (FRC) to Strong Sell” was originally published by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The legal version of this report can be accessed at https://www.americanbankingnews.com/2017/08/19/bidaskclub-lowers-first-republic-bank-frc-to-strong-sell.html.

A number of large investors have recently bought and sold shares of FRC. Vanguard Group Inc. increased its stake in shares of First Republic Bank by 5.2% in the second quarter. Vanguard Group Inc. now owns 12,886,696 shares of the bank’s stock valued at $1,289,958,000 after buying an additional 641,309 shares during the last quarter. BlackRock Inc. increased its stake in shares of First Republic Bank by 8.9% in the second quarter. BlackRock Inc. now owns 10,708,811 shares of the bank’s stock valued at $1,071,954,000 after buying an additional 876,812 shares during the last quarter. Capital World Investors increased its stake in shares of First Republic Bank by 6.5% in the second quarter. Capital World Investors now owns 8,068,025 shares of the bank’s stock valued at $807,609,000 after buying an additional 490,000 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of First Republic Bank by 13.3% in the second quarter. JPMorgan Chase & Co. now owns 6,745,564 shares of the bank’s stock valued at $675,230,000 after buying an additional 793,964 shares during the last quarter. Finally, State Street Corp increased its stake in shares of First Republic Bank by 20.3% in the second quarter. State Street Corp now owns 5,995,443 shares of the bank’s stock valued at $600,135,000 after buying an additional 1,010,648 shares during the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

About First Republic Bank

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.

Analyst Recommendations for First Republic Bank (NYSE:FRC)

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.