Equities researchers at Credit Suisse Group initiated coverage on shares of First Republic Bank (NYSE:FRC) in a research note issued to investors on Friday, The Fly reports. The firm set a “neutral” rating on the bank’s stock.
FRC has been the subject of a number of other reports. ValuEngine downgraded First Republic Bank from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. BMO Capital Markets upped their price target on First Republic Bank from $95.00 to $111.00 and gave the company a “market perform” rating in a report on Friday, March 15th. 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 report on Friday, March 1st. Maxim Group reaffirmed a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of First Republic Bank in a report on Friday, April 12th. Finally, Wells Fargo & Co upped their price target on First Republic Bank from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. First Republic Bank presently has an average rating of “Hold” and an average price target of $104.54.
FRC stock opened at $96.34 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.99 and a current ratio of 0.99. First Republic Bank has a fifty-two week low of $79.42 and a fifty-two week high of $107.75. The company has a market cap of $16.17 billion, a P/E ratio of 20.03, a PEG ratio of 1.62 and a beta of 0.96.
First Republic Bank (NYSE:FRC) last released its earnings results on Friday, April 12th. The bank reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.04. The firm had revenue of $807.36 million for the quarter, compared to analyst estimates of $813.99 million. First Republic Bank had a net margin of 23.61% and a return on equity of 11.56%. During the same period in the prior year, the firm earned $1.13 earnings per share. Analysts anticipate that First Republic Bank will post 5.29 EPS for the current year.
Several hedge funds have recently bought and sold shares of the company. First Personal Financial Services raised its stake in shares of First Republic Bank by 61.5% during the first quarter. First Personal Financial Services now owns 507 shares of the bank’s stock worth $51,000 after purchasing an additional 193 shares during the last quarter. Townsquare Capital LLC purchased a new stake in shares of First Republic Bank during the fourth quarter worth approximately $396,000. Mason Street Advisors LLC raised its stake in shares of First Republic Bank by 2.0% during the first quarter. Mason Street Advisors LLC now owns 23,508 shares of the bank’s stock worth $2,362,000 after purchasing an additional 463 shares during the last quarter. QS Investors LLC raised its stake in shares of First Republic Bank by 39,200.0% during the fourth quarter. QS Investors LLC now owns 1,965 shares of the bank’s stock worth $171,000 after purchasing an additional 1,960 shares during the last quarter. Finally, Vanguard Group Inc raised its stake in shares of First Republic Bank by 0.3% during the third quarter. Vanguard Group Inc now owns 13,738,532 shares of the bank’s stock worth $1,318,899,000 after purchasing an additional 46,588 shares during the last quarter.
First Republic Bank Company Profile
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 in 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, passbook deposits, and individual retirement accounts, as well as certificates of deposit.
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