First Republic Bank (NYSE:FRC) had its price target trimmed by Raymond James Financial, Inc. from $108.00 to $105.00 in a research note issued to investors on Monday. The firm currently has an outperform rating on the bank’s stock.

FRC has been the topic of a number of other reports. BMO Capital Markets dropped their price target on shares of First Republic Bank from $96.00 to $92.00 and set a market perform rating on the stock in a research report on Monday. Royal Bank Of Canada restated a hold rating on shares of First Republic Bank in a research report on Friday, September 29th. BidaskClub downgraded shares of First Republic Bank from a hold rating to a sell rating in a research report on Tuesday, July 25th. Maxim Group restated a buy rating and set a $110.00 price target (up from $105.00) on shares of First Republic Bank in a research report on Friday, July 14th. Finally, Barclays PLC restated an equal weight rating and set a $110.00 price target (up from $101.00) on shares of First Republic Bank in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $102.93.

Shares of First Republic Bank (NYSE FRC) traded up 1.21% on Monday, reaching $98.63. 78,095 shares of the company’s stock traded hands. The firm has a market capitalization of $15.58 billion, a price-to-earnings ratio of 23.26 and a beta of 1.01. First Republic Bank has a 52 week low of $72.43 and a 52 week high of $105.52. The company has a 50 day moving average price of $99.52 and a 200 day moving average price of $97.38.

First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Friday, October 13th. The bank reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The company had revenue of $670.30 million for the quarter, compared to the consensus estimate of $678.25 million. During the same quarter last year, the firm posted $1.00 earnings per share. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. On average, equities research analysts predict that First Republic Bank will post $4.38 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 26th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Wednesday, October 25th. First Republic Bank’s dividend payout ratio (DPR) is currently 16.04%.

Several institutional investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its position in shares of First Republic Bank by 0.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock worth $195,000 after acquiring an additional 5 shares in the last quarter. Alps Advisors Inc. increased its position in shares of First Republic Bank by 0.3% in the second quarter. Alps Advisors Inc. now owns 4,979 shares of the bank’s stock worth $498,000 after acquiring an additional 13 shares in the last quarter. Somerset Trust Co increased its position in shares of First Republic Bank by 0.4% in the second quarter. Somerset Trust Co now owns 9,186 shares of the bank’s stock worth $919,000 after acquiring an additional 40 shares in the last quarter. Global X Management Co. LLC increased its position in shares of First Republic Bank by 1.1% in the second quarter. Global X Management Co. LLC now owns 5,935 shares of the bank’s stock worth $594,000 after acquiring an additional 62 shares in the last quarter. Finally, Xact Kapitalforvaltning AB increased its position in shares of First Republic Bank by 0.3% in the second quarter. Xact Kapitalforvaltning AB now owns 19,486 shares of the bank’s stock worth $1,951,000 after acquiring an additional 65 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

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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