Barclays Boosts First Republic Bank (NYSE:FRC) Price Target to $215.00

First Republic Bank (NYSE:FRC) had its price objective raised by equities researchers at Barclays from $205.00 to $215.00 in a research report issued on Thursday, The Fly reports. The firm presently has an “equal weight” rating on the bank’s stock. Barclays‘s target price would suggest a potential upside of 4.95% from the company’s previous close.

Other analysts have also issued research reports about the stock. Maxim Group raised their target price on shares of First Republic Bank from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, July 14th. Keefe, Bruyette & Woods lifted their price target on shares of First Republic Bank from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, July 13th. Credit Suisse Group lifted their price target on shares of First Republic Bank from $163.00 to $180.00 and gave the company an “underperform” rating in a report on Wednesday, July 14th. Finally, Morgan Stanley lifted their price target on shares of First Republic Bank from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, August 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $187.08.

Shares of NYSE FRC opened at $204.85 on Thursday. First Republic Bank has a 1 year low of $120.03 and a 1 year high of $207.66. The firm’s 50 day moving average price is $198.83 and its 200 day moving average price is $190.43. The firm has a market cap of $35.27 billion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 1.58 and a beta of 1.12. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 0.97.

First Republic Bank (NYSE:FRC) last announced its earnings results on Tuesday, October 12th. The bank reported $1.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.07. First Republic Bank had a net margin of 26.82% and a return on equity of 12.40%. During the same quarter last year, the company earned $1.61 EPS. As a group, equities analysts predict that First Republic Bank will post 7.45 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Veracity Capital LLC raised its stake in shares of First Republic Bank by 3.9% in the 3rd quarter. Veracity Capital LLC now owns 1,373 shares of the bank’s stock valued at $265,000 after acquiring an additional 51 shares during the period. Intrust Bank NA increased its stake in First Republic Bank by 1.0% during the 1st quarter. Intrust Bank NA now owns 5,394 shares of the bank’s stock worth $900,000 after buying an additional 53 shares during the period. Quadrant Capital Group LLC increased its stake in First Republic Bank by 9.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 684 shares of the bank’s stock worth $128,000 after buying an additional 57 shares during the period. Lido Advisors LLC increased its stake in First Republic Bank by 3.1% during the 2nd quarter. Lido Advisors LLC now owns 2,034 shares of the bank’s stock worth $381,000 after buying an additional 61 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in First Republic Bank by 1.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 4,070 shares of the bank’s stock worth $762,000 after buying an additional 62 shares during the period. 96.75% of the stock is currently owned by institutional investors and hedge funds.

About First Republic Bank

First Republic Bank engages in the provision of private banking, business banking, real estate lending, and wealth management, including trust and custody services. It operates through the Commercial Banking and Wealth Management segments. The Commercial Banking segment represents most of the operations, including real estate secured lending, retail deposit gathering, private banking activities, mortgage sales and servicing, and managing capital, liquidity, and interest rate risk.

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