First Republic Bank (FRC) Getting Somewhat Favorable Press Coverage, Report Shows
News articles about First Republic Bank (NYSE:FRC) have been trending somewhat positive on Saturday, Accern reports. The research group rates the sentiment of press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. First Republic Bank earned a news impact score of 0.07 on Accern’s scale. Accern also gave headlines about the bank an impact score of 46.2408047070388 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the news headlines that may have effected Accern Sentiment’s analysis:
- Jefferies Group Research Analysts Reduce Earnings Estimates for First Republic Bank (FRC) (americanbankingnews.com)
- Will Shareholder Love To Invest in This Stock?: First Republic Bank (NYSE: FRC) – Alpha Beta Stock (alphabetastock.com)
- First Republic Bank : Earnings Review and Free Research Report: First Republic Bank’s Net Income Jumped 20.2% (4-traders.com)
- First Republic Bank to Present at the BancAnalysts Association of Boston Conference (finance.yahoo.com)
A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $87.00 price target on shares of First Republic Bank in a research note on Friday, October 13th. Jefferies Group LLC reaffirmed a “buy” rating and set a $111.00 price target on shares of First Republic Bank in a research note on Thursday. Piper Jaffray Companies set a $99.00 price target on First Republic Bank and gave the stock a “hold” rating in a research note on Sunday, October 15th. BMO Capital Markets dropped their price target on First Republic Bank from $96.00 to $92.00 and set a “market perform” rating on the stock in a research note on Monday, October 16th. Finally, Wells Fargo & Co lowered their price objective on First Republic Bank from $100.00 to $95.00 and set a “market perform” rating for the company in a research note on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. First Republic Bank currently has an average rating of “Hold” and a consensus target price of $102.93.
First Republic Bank (NYSE:FRC) opened at 100.29 on Friday. First Republic Bank has a 12-month low of $72.43 and a 12-month high of $105.52. The stock has a 50 day moving average price of $99.62 and a 200 day moving average price of $97.42. The company has a market capitalization of $15.84 billion, a price-to-earnings ratio of 23.65 and a beta of 1.01.
First Republic Bank (NYSE:FRC) last released its earnings results on Friday, October 13th. The bank reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.02). First Republic Bank had a net margin of 26.85% and a return on equity of 12.06%. The business had revenue of $670.30 million for the quarter, compared to analysts’ expectations of $678.25 million. During the same quarter in the previous year, the business posted $1.00 earnings per share. First Republic Bank’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, analysts expect that First Republic Bank will post $4.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 26th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, October 25th. This represents a $0.68 dividend on an annualized basis and a yield of 0.68%. First Republic Bank’s payout ratio is currently 16.04%.
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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.
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