First Republic Bank (NYSE:FRC)‘s stock had its “buy” rating reissued by analysts at Jefferies Group LLC in a research note issued to investors on Friday. They presently have a $109.00 price target on the bank’s stock. Jefferies Group LLC’s price objective would suggest a potential upside of 12.95% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. Piper Jaffray Companies restated a “hold” rating and issued a $99.00 price target on shares of First Republic Bank in a research report on Friday, September 1st. BidaskClub cut shares of First Republic Bank from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $90.00 price target on shares of First Republic Bank in a research report on Thursday, July 27th. BMO Capital Markets restated a “hold” rating and issued a $96.00 price target on shares of First Republic Bank in a research report on Sunday, July 16th. Finally, Maxim Group restated a “buy” rating and issued a $110.00 price target (up previously from $105.00) on shares of First Republic Bank in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $104.54.

Shares of First Republic Bank (NYSE:FRC) traded up 0.79% during midday trading on Friday, hitting $96.50. 1,304,744 shares of the stock were exchanged. The firm has a 50-day moving average of $97.82 and a 200-day moving average of $96.18. The company has a market capitalization of $15.22 billion, a P/E ratio of 23.54 and a beta of 1.01. First Republic Bank has a 1-year low of $72.40 and a 1-year high of $104.17.

First Republic Bank (NYSE:FRC) last announced its quarterly earnings results on Friday, July 14th. The bank reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.03). First Republic Bank had a return on equity of 12.16% and a net margin of 27.37%. The business had revenue of $641.30 million during the quarter, compared to the consensus estimate of $671.27 million. During the same quarter in the prior year, the firm posted $0.97 EPS. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, equities analysts expect that First Republic Bank will post $4.45 EPS for the current year.

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Several institutional investors and hedge funds have recently modified their holdings of FRC. Canada Pension Plan Investment Board boosted its stake in shares of First Republic Bank by 61.1% during the first quarter. Canada Pension Plan Investment Board now owns 3,098 shares of the bank’s stock valued at $291,000 after purchasing an additional 1,175 shares during the period. World Asset Management Inc boosted its stake in shares of First Republic Bank by 24.8% during the first quarter. World Asset Management Inc now owns 6,661 shares of the bank’s stock valued at $625,000 after purchasing an additional 1,325 shares during the period. Karp Capital Management Corp boosted its stake in shares of First Republic Bank by 92.1% during the first quarter. Karp Capital Management Corp now owns 48,678 shares of the bank’s stock valued at $4,566,000 after purchasing an additional 23,342 shares during the period. TD Asset Management Inc. boosted its stake in shares of First Republic Bank by 305.4% during the first quarter. TD Asset Management Inc. now owns 70,003 shares of the bank’s stock valued at $6,567,000 after purchasing an additional 52,734 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of First Republic Bank by 49.7% during the first quarter. Toronto Dominion Bank now owns 1,944 shares of the bank’s stock valued at $182,000 after purchasing an additional 645 shares during the period.

About First Republic Bank

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.

Analyst Recommendations for First Republic Bank (NYSE:FRC)

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