First Republic Bank (FRC) Reaches New 52-Week High at $77.31
First Republic Bank (NYSE:FRC) hit a new 52-week high during trading on Monday . The stock traded as high as $77.31 and last traded at $75.60, with a volume of 207,967 shares traded. The stock had previously closed at $74.94.
FRC has been the topic of several research analyst reports. Zacks Investment Research lowered shares of First Republic Bank from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of First Republic Bank in a research note on Sunday, July 17th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of First Republic Bank in a research note on Sunday, July 17th. FBR & Co reiterated a “hold” rating on shares of First Republic Bank in a research note on Sunday, July 17th. Finally, Canaccord Genuity reissued a “buy” rating on shares of First Republic Bank in a research report on Sunday, May 8th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $74.92.
The company has a 50 day moving average price of $72.14 and a 200-day moving average price of $68.58. The company has a market cap of $11.34 billion and a PE ratio of 21.24.
First Republic Bank (NYSE:FRC) last posted its quarterly earnings results on Thursday, July 14th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.06. The company earned $535.10 million during the quarter, compared to analyst estimates of $568.53 million. During the same period in the prior year, the company earned $0.73 earnings per share. On average, analysts forecast that First Republic Bank will post $3.91 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Thursday, July 28th were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, July 26th. This represents a $0.64 annualized dividend and a yield of 0.85%.
An institutional investor recently raised its position in First Republic Bank stock. Utah Retirement Systems raised its position in First Republic Bank (NYSE:FRC) by 0.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 25,502 shares of the company’s stock after buying an additional 100 shares during the period. Utah Retirement Systems’ holdings in First Republic Bank were worth $1,684,000 at the end of the most recent reporting 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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