First Republic Bank’s (FRC) Hold Rating Reiterated at Keefe, Bruyette & Woods
First Republic Bank (NYSE:FRC)‘s stock had its “hold” rating reaffirmed by equities research analysts at Keefe, Bruyette & Woods in a report issued on Wednesday.
FRC has been the subject of several other reports. Barclays increased their price target on First Republic Bank from $98.00 to $101.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $106.00 price target on shares of First Republic Bank in a report on Thursday, December 14th. Jefferies Group downgraded First Republic Bank from a “buy” rating to a “hold” rating in a report on Friday, December 15th. Piper Jaffray Companies set a $99.00 price target on First Republic Bank and gave the stock a “hold” rating in a report on Sunday, October 15th. Finally, Raymond James Financial decreased their price target on First Republic Bank from $108.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $102.40.
First Republic Bank (NYSE FRC) traded up $1.10 during mid-day trading on Wednesday, hitting $88.40. The stock had a trading volume of 1,945,648 shares, compared to its average volume of 1,670,000. The firm has a market capitalization of $13,900.00, a P/E ratio of 20.85, a P/E/G ratio of 1.43 and a beta of 0.96. First Republic Bank has a 1-year low of $84.56 and a 1-year high of $105.52. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.95 and a quick ratio of 0.94.
A number of large investors have recently added to or reduced their stakes in FRC. Capital One National Association purchased a new position in First Republic Bank in the fourth quarter worth $908,000. Beese Fulmer Investment Management Inc. increased its position in shares of First Republic Bank by 0.4% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 65,068 shares of the bank’s stock valued at $4,298,000 after buying an additional 245 shares in the last quarter. Personal Capital Advisors Corp increased its position in shares of First Republic Bank by 24.0% in the fourth quarter. Personal Capital Advisors Corp now owns 32,679 shares of the bank’s stock valued at $2,159,000 after buying an additional 6,322 shares in the last quarter. Dearborn Partners LLC increased its position in shares of First Republic Bank by 11.0% in the fourth quarter. Dearborn Partners LLC now owns 36,200 shares of the bank’s stock valued at $2,391,000 after buying an additional 3,600 shares in the last quarter. Finally, KAMES CAPITAL plc purchased a new position in shares of First Republic Bank in the fourth quarter valued at $32,175,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.
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.
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