First Republic Bank (FRC) Receives Average Rating of “Hold” from Analysts
First Republic Bank (NYSE:FRC) has been given an average rating of “Hold” by the sixteen brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $102.75.
A number of equities research analysts have recently issued reports on the company. Wells Fargo & Co dropped their price target on First Republic Bank from $100.00 to $95.00 and set a “market perform” rating for the company in a research report on Monday, October 16th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $87.00 price target on shares of First Republic Bank in a research report on Friday, October 13th. Royal Bank of Canada reiterated a “hold” rating on shares of First Republic Bank in a research report on Friday, September 29th. BMO Capital Markets lowered their price objective on First Republic Bank from $96.00 to $92.00 and set a “market perform” rating for the company in a research report on Monday, October 16th. Finally, Zacks Investment Research lowered First Republic Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th.
A number of institutional investors have recently modified their holdings of FRC. Atria Investments LLC acquired a new position in First Republic Bank during the fourth quarter worth $371,000. Nisa Investment Advisors LLC lifted its stake in First Republic Bank by 18.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 16,000 shares of the bank’s stock worth $1,386,000 after purchasing an additional 2,500 shares in the last quarter. DnB Asset Management AS lifted its stake in First Republic Bank by 12.1% during the fourth quarter. DnB Asset Management AS now owns 14,800 shares of the bank’s stock worth $1,282,000 after purchasing an additional 1,600 shares in the last quarter. Atlantic Trust Group LLC acquired a new position in First Republic Bank during the third quarter worth $45,108,000. Finally, Parametric Portfolio Associates LLC lifted its stake in First Republic Bank by 23.6% during the third quarter. Parametric Portfolio Associates LLC now owns 299,667 shares of the bank’s stock worth $31,303,000 after purchasing an additional 57,236 shares in the last quarter. Institutional investors own 98.75% of the company’s stock.
First Republic Bank (NYSE:FRC) last posted its quarterly earnings results on Tuesday, January 16th. The bank reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.14). The company had revenue of $699.20 million during the quarter, compared to analysts’ expectations of $688.48 million. First Republic Bank had a net margin of 26.85% and a return on equity of 12.06%. First Republic Bank’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the company earned $1.03 earnings per share. equities research analysts forecast that First Republic Bank will post 4.45 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Thursday, January 25th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.75%. First Republic Bank’s payout ratio is 16.04%.
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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.
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