First Republic Bank (NYSE:FRC) shares gapped up prior to trading on Friday . The stock had previously closed at $67.80, but opened at $68.26. First Republic Bank shares last traded at $69.65, with a volume of 234,130 shares changing hands.

Several research analysts have commented on FRC shares. Zacks Investment Research lowered First Republic Bank from a “hold” rating to a “sell” rating in a research note on Thursday, March 31st. Deutsche Bank AG reissued a “hold” rating and issued a $69.00 price objective on shares of First Republic Bank in a research note on Tuesday, April 5th. FBR & Co boosted their price objective on First Republic Bank from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, April 19th. Maxim Group reissued a “buy” rating and issued a $83.00 price objective (up previously from $75.00) on shares of First Republic Bank in a research note on Friday, April 15th. Finally, Jefferies Group reissued a “buy” rating and issued a $80.00 price objective (up previously from $77.00) on shares of First Republic Bank in a research note on Saturday, April 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $72.15.

The company’s 50-day moving average is $69.59 and its 200 day moving average is $66.76. The company has a market capitalization of $10.15 billion and a PE ratio of 20.69.

First Republic Bank (NYSE:FRC) last released its earnings results on Thursday, April 14th. The company reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.08. The firm earned $519.60 million during the quarter, compared to the consensus estimate of $542.20 million. During the same period in the prior year, the company earned $0.68 EPS. The firm’s revenue was up 20.7% compared to the same quarter last year. Equities analysts predict that First Republic Bank will post $3.70 EPS for the current fiscal year.

Other hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. raised its stake in shares of First Republic Bank by 7.7% in the fourth quarter. Baillie Gifford & Co. now owns 12,538,164 shares of the company’s stock valued at $828,271,000 after buying an additional 896,770 shares during the period. Vanguard Group Inc. raised its stake in shares of First Republic Bank by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 9,782,934 shares of the company’s stock valued at $646,260,000 after buying an additional 572,450 shares during the period. OppenheimerFunds Inc. raised its stake in shares of First Republic Bank by 35.8% in the fourth quarter. OppenheimerFunds Inc. now owns 319,070 shares of the company’s stock valued at $21,078,000 after buying an additional 84,170 shares during the period. New York State Common Retirement Fund raised its stake in shares of First Republic Bank by 13.7% in the fourth quarter. New York State Common Retirement Fund now owns 687,063 shares of the company’s stock valued at $45,387,000 after buying an additional 82,594 shares during the period. Finally, Morgan Stanley raised its stake in shares of First Republic Bank by 21.5% in the fourth quarter. Morgan Stanley now owns 438,182 shares of the company’s stock valued at $28,947,000 after buying an additional 77,447 shares during the period.

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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