Weekly Analysts’ Ratings Updates for First Republic Bank (FRC)
First Republic Bank (NYSE: FRC) recently received a number of ratings updates from brokerages and research firms:
- 9/29/2017 – First Republic Bank had its price target raised by analysts at Jefferies Group LLC from $109.00 to $120.00. They now have a “buy” rating on the stock.
- 9/29/2017 – First Republic Bank had its “hold” rating reaffirmed by analysts at Royal Bank Of Canada.
- 9/18/2017 – First Republic Bank was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “First Republic’s shares outperformed the industry over the last six months. The bank has a decent earnings surprise history. It surpassed the Zacks Consensus Estimate in two of the trailing four quarters. The bank is well positioned for growth, given its simpler business model and non-engagement in additional businesses, as compared to most large banking institutions. Also, consistent growth in loans and deposits along with gradual ease of pressure on the margins will support the company’s organic growth. However, operating costs are expected to remain on the higher side in the near term due to investments in digital initiatives.”
- 9/15/2017 – First Republic Bank had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $109.00 price target on the stock.
- 9/1/2017 – First Republic Bank had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $99.00 price target on the stock.
- 8/19/2017 – First Republic Bank was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
First Republic Bank (FRC) opened at 105.17 on Wednesday. The stock’s 50 day moving average is $98.27 and its 200-day moving average is $96.69. First Republic Bank has a 12-month low of $72.40 and a 12-month high of $105.52. The company has a market capitalization of $16.59 billion, a P/E ratio of 25.66 and a beta of 1.01.
First Republic Bank (NYSE:FRC) last issued its quarterly earnings data on Friday, July 14th. The bank reported $1.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.03). First Republic Bank had a net margin of 27.37% and a return on equity of 12.16%. The company had revenue of $641.30 million for the quarter, compared to the consensus estimate of $671.27 million. During the same quarter last year, the company earned $0.97 EPS. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, equities analysts predict that First Republic Bank will post $4.46 earnings per share for the current fiscal year.
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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