First Republic Bank (FRC) Given Hold Rating at Keefe, Bruyette & Woods
Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. restated a buy rating on shares of First Republic Bank in a report on Saturday, July 9th. FBR & Co restated a hold rating on shares of First Republic Bank in a report on Sunday, July 17th. Maxim Group raised their target price on shares of First Republic Bank from $83.00 to $86.00 and gave the company a buy rating in a report on Friday. Barclays PLC lifted their price target on shares of First Republic Bank from $78.00 to $84.00 and gave the stock an overweight rating in a report on Thursday, August 11th. Finally, Zacks Investment Research upgraded shares of First Republic Bank from a hold rating to a buy rating and set a $82.00 price target for the company in a report on Tuesday, August 16th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $77.00.
First Republic Bank (NYSE:FRC) traded down 0.184% during mid-day trading on Friday, reaching $73.185. The company’s stock had a trading volume of 228,165 shares. First Republic Bank has a 12-month low of $56.32 and a 12-month high of $79.15. The firm has a market cap of $10.97 billion, a PE ratio of 20.540 and a beta of 1.06. The company has a 50-day moving average price of $76.66 and a 200-day moving average price of $71.70.
First Republic Bank (NYSE:FRC) last posted its earnings results on Thursday, October 13th. The company reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.01. First Republic Bank had a net margin of 27.68% and a return on equity of 12.95%. The firm earned $557.90 million during the quarter, compared to the consensus estimate of $592.65 million. During the same period last year, the firm posted $0.79 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts expect that First Republic Bank will post $3.91 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Thursday, October 27th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, October 25th. This represents a $0.64 dividend on an annualized basis and a yield of 0.87%. First Republic Bank’s dividend payout ratio (DPR) is 17.34%.
A number of hedge funds and other institutional investors have recently made changes to their positions in FRC. Sarasin & Partners LLP acquired a new position in shares of First Republic Bank during the third quarter worth $42,181,000. National Pension Service boosted its position in shares of First Republic Bank by 9.3% in the third quarter. National Pension Service now owns 130,728 shares of the company’s stock worth $10,080,000 after buying an additional 11,093 shares during the period. Private Trust Co. NA boosted its position in shares of First Republic Bank by 34.5% in the third quarter. Private Trust Co. NA now owns 13,259 shares of the company’s stock worth $1,022,000 after buying an additional 3,400 shares during the period. Howland Capital Management LLC boosted its position in shares of First Republic Bank by 17.9% in the third quarter. Howland Capital Management LLC now owns 126,502 shares of the company’s stock worth $9,755,000 after buying an additional 19,225 shares during the period. Finally, Capstone Asset Management Co. acquired a new position in shares of First Republic Bank during the third quarter worth $204,000. 98.21% of the stock is currently owned by hedge funds and other institutional investors.
First Republic Bank Company Profile
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.
Receive News & Ratings for First Republic Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Republic Bank and related companies with MarketBeat.com's FREE daily email newsletter.