First Republic Bank (NYSE:FRC)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $69.94, but opened at $70.39. First Republic Bank shares last traded at $71.70, with a volume of 328,718 shares traded.

A number of research firms have commented on FRC. BMO Capital Markets reaffirmed a “hold” rating on shares of First Republic Bank in a research report on Sunday, April 17th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of First Republic Bank in a research report on Saturday. Canaccord Genuity reaffirmed a “buy” rating on shares of First Republic Bank in a research report on Sunday, May 8th. FBR & Co lifted their price objective on shares of First Republic Bank from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, April 19th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $69.00 target price on shares of First Republic Bank in a research report on Tuesday, April 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $72.15.

The firm has a market capitalization of $10.49 billion and a PE ratio of 21.39. The company has a 50-day moving average of $69.64 and a 200 day moving average of $66.83.

First Republic Bank (NYSE:FRC) last announced its earnings results on Thursday, April 14th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.08. The business had revenue of $519.60 million for the quarter, compared to analysts’ expectations of $542.20 million. During the same period in the prior year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, analysts forecast that First Republic Bank will post $3.69 EPS for the current year.

Several large investors have made changes to their positions in FRC. Sawtooth Asset Management Inc. raised its stake in shares of First Republic Bank by 813.6% in the fourth quarter. Sawtooth Asset Management Inc. now owns 15,147 shares of the company’s stock valued at $1,001,000 after buying an additional 13,489 shares in the last quarter. Capital Management Associates NY raised its stake in shares of First Republic Bank by 2.6% in the fourth quarter. Capital Management Associates NY now owns 15,860 shares of the company’s stock valued at $1,048,000 after buying an additional 400 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in shares of First Republic Bank by 5.7% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 22,175 shares of the company’s stock valued at $1,465,000 after buying an additional 1,186 shares during the period. Whittier Trust Co. raised its stake in shares of First Republic Bank by 1.1% in the fourth quarter. Whittier Trust Co. now owns 23,897 shares of the company’s stock valued at $1,579,000 after buying an additional 249 shares during the period. Finally, Comerica Bank raised its stake in shares of First Republic Bank by 6.3% in the fourth quarter. Comerica Bank now owns 27,778 shares of the company’s stock valued at $1,730,000 after buying an additional 1,649 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.