Shares of First Republic Bank (NYSE:FRC) have been given a consensus recommendation of “Hold” by the sixteen analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $103.31.

Several analysts have commented on the company. Jefferies Group LLC reiterated a “buy” rating and set a $111.00 target price on shares of First Republic Bank in a research note on Thursday, October 19th. Zacks Investment Research downgraded First Republic Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Barclays PLC set a $102.00 target price on First Republic Bank and gave the company a “hold” rating in a research note on Monday, October 16th. Raymond James Financial, Inc. cut their target price on First Republic Bank from $108.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, October 16th. Finally, Wells Fargo & Company cut their target price on First Republic Bank from $100.00 to $95.00 and set a “market perform” rating on the stock in a research note on Monday, October 16th.

A number of institutional investors have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. raised its holdings in First Republic Bank by 0.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock worth $195,000 after purchasing an additional 5 shares during the period. Alps Advisors Inc. raised its holdings in First Republic Bank by 0.3% during the second quarter. Alps Advisors Inc. now owns 4,979 shares of the bank’s stock valued at $498,000 after acquiring an additional 13 shares during the period. Somerset Trust Co raised its holdings in First Republic Bank by 0.4% during the second quarter. Somerset Trust Co now owns 9,186 shares of the bank’s stock valued at $919,000 after acquiring an additional 40 shares during the period. Global X Management Co. LLC raised its holdings in First Republic Bank by 1.1% during the second quarter. Global X Management Co. LLC now owns 5,935 shares of the bank’s stock valued at $594,000 after acquiring an additional 62 shares during the period. Finally, Xact Kapitalforvaltning AB raised its holdings in First Republic Bank by 0.3% during the second quarter. Xact Kapitalforvaltning AB now owns 19,486 shares of the bank’s stock valued at $1,951,000 after acquiring an additional 65 shares during the period. 97.80% of the stock is currently owned by institutional investors.

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First Republic Bank (NYSE:FRC) last issued its earnings results on Friday, October 13th. The bank reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). First Republic Bank had a net margin of 26.85% and a return on equity of 12.06%. The business had revenue of $670.30 million for the quarter, compared to analysts’ expectations of $678.25 million. During the same quarter in the prior year, the business posted $1.00 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 26th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, October 25th. This represents a $0.68 dividend on an annualized basis and a yield of 0.70%. First Republic Bank’s dividend payout ratio is currently 16.04%.

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.

Analyst Recommendations for First Republic Bank (NYSE:FRC)

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