First Republic Bank (NYSE:FRC)‘s stock had its “equal weight” rating restated by stock analysts at Morgan Stanley in a report released on Thursday. They presently have a $106.00 target price on the bank’s stock. Morgan Stanley’s target price would indicate a potential upside of 19.36% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company lowered their price target on First Republic Bank from $100.00 to $95.00 and set a “market perform” rating on the stock in a research report on Monday, October 16th. Zacks Investment Research upgraded First Republic Bank from a “sell” rating to a “hold” rating in a research report on Friday, December 8th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $87.00 target price on shares of First Republic Bank in a research report on Friday, October 13th. BMO Capital Markets decreased their target price on First Republic Bank from $96.00 to $92.00 and set a “market perform” rating on the stock in a research report on Monday, October 16th. Finally, Royal Bank of Canada restated a “hold” rating on shares of First Republic Bank in a research report on Friday, September 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $103.07.

Shares of First Republic Bank (NYSE:FRC) traded down $2.77 during mid-day trading on Thursday, reaching $88.81. The company’s stock had a trading volume of 3,093,600 shares, compared to its average volume of 1,005,058. The stock has a market capitalization of $14,447.34, a P/E ratio of 21.60, a P/E/G ratio of 1.69 and a beta of 0.96. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.55. First Republic Bank has a 52 week low of $87.91 and a 52 week high of $105.52.

First Republic Bank (NYSE:FRC) last issued its quarterly earnings results on Friday, October 13th. The bank reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The business had revenue of $670.30 million for the quarter, compared to analysts’ expectations of $678.25 million. First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 EPS. equities research analysts anticipate that First Republic Bank will post 4.41 EPS for the current year.

Several large investors have recently bought and sold shares of FRC. Bank of Nova Scotia acquired a new stake in shares of First Republic Bank in the first quarter valued at $483,000. Barnett & Company Inc. acquired a new stake in shares of First Republic Bank in the second quarter valued at $100,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of First Republic Bank by 100.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,071 shares of the bank’s stock valued at $107,000 after buying an additional 537 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of First Republic Bank by 628.2% in the first quarter. Parallel Advisors LLC now owns 1,085 shares of the bank’s stock valued at $101,000 after buying an additional 936 shares in the last quarter. Finally, Israel Discount Bank of New York acquired a new stake in shares of First Republic Bank in the first quarter valued at $107,000. 99.14% of the stock is owned by hedge funds and other institutional investors.

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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)

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