First Republic Bank (NYSE:FRC) had its price target upped by BMO Capital Markets from $95.00 to $111.00 in a note issued to investors on Friday. The firm currently has a “market perform” rating on the bank’s stock. BMO Capital Markets’ price target indicates a potential upside of 6.60% from the stock’s previous close.
A number of other analysts also recently commented on the company. Bank of America downgraded First Republic Bank from a “buy” rating to a “neutral” rating in a research report on Thursday, January 10th. They noted that the move was a valuation call. Raymond James downgraded First Republic Bank from an “outperform” rating to a “market perform” rating in a research report on Monday, January 7th. Atlantic Securities downgraded First Republic Bank from an “overweight” rating to a “neutral” rating and set a $104.98 price target for the company. in a research report on Friday, March 1st. Stephens raised First Republic Bank from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 20th. Finally, Wells Fargo & Co increased their price target on First Republic Bank from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, January 16th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company. First Republic Bank currently has a consensus rating of “Hold” and an average target price of $102.57.
Shares of First Republic Bank stock traded up $1.21 on Friday, hitting $104.13. The company had a trading volume of 510,530 shares, compared to its average volume of 1,533,838. The company has a market cap of $16.22 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 1.55 and a beta of 0.93. First Republic Bank has a 1 year low of $79.42 and a 1 year high of $106.75. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.34.
First Republic Bank (NYSE:FRC) last issued its quarterly earnings data on Tuesday, January 15th. The bank reported $1.29 EPS for the quarter, topping the consensus estimate of $1.24 by $0.05. The firm had revenue of $810.75 million during the quarter, compared to the consensus estimate of $812.10 million. First Republic Bank had a return on equity of 11.62% and a net margin of 23.88%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 earnings per share. As a group, research analysts anticipate that First Republic Bank will post 5.34 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Pearl River Capital LLC bought a new position in First Republic Bank during the fourth quarter valued at $26,000. Portfolio Solutions LLC bought a new position in shares of First Republic Bank in the fourth quarter worth $43,000. Ipswich Investment Management Co. Inc. bought a new position in shares of First Republic Bank in the fourth quarter worth $45,000. Captrust Financial Advisors boosted its holdings in shares of First Republic Bank by 199.4% in the fourth quarter. Captrust Financial Advisors now owns 521 shares of the bank’s stock worth $45,000 after acquiring an additional 347 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of First Republic Bank by 42.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 726 shares of the bank’s stock worth $63,000 after acquiring an additional 218 shares during the period.
About First Republic Bank
First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas of the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers deposit products, such as checking, money market checking, savings, and passbook deposits, as well as certificates of deposit.
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