First Republic Bank (FRC) Sets New 1-Year High at $77.31
First Republic Bank (NYSE:FRC) shares reached a new 52-week high 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.
Several research firms recently weighed in on FRC. FBR & Co restated a “hold” rating on shares of First Republic Bank in a report on Sunday, July 17th. Keefe, Bruyette & Woods restated a “hold” rating on shares of First Republic Bank in a report on Sunday, July 17th. JPMorgan Chase & Co. restated a “buy” rating on shares of First Republic Bank in a report on Sunday, July 17th. Canaccord Genuity restated a “buy” rating on shares of First Republic Bank in a report on Sunday, May 8th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $71.00 price target on shares of First Republic Bank in a report on Friday, July 15th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $74.92.
The firm has a market cap of $11.48 billion and a P/E ratio of 21.50. The stock’s 50 day moving average is $72.49 and its 200-day moving average is $69.00.
First Republic Bank (NYSE:FRC) last released its quarterly earnings data on Thursday, July 14th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. The firm had revenue of $535.10 million for the quarter, compared to the consensus estimate of $568.53 million. During the same quarter in the prior year, the business posted $0.73 earnings per share. On average, equities research analysts expect that First Republic Bank will post $3.91 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Thursday, July 28th were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, July 26th. This represents a $0.64 dividend on an annualized basis and a yield of 0.84%.
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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