First Republic Bank (FRC) Rating Reiterated by Royal Bank Of Canada
Other research analysts have also recently issued reports about the stock. Jefferies Group LLC raised their target price on shares of First Republic Bank from $109.00 to $120.00 and gave the stock a buy rating in a report on Friday. BidaskClub lowered shares of First Republic Bank from a buy rating to a hold rating in a report on Thursday, July 13th. Zacks Investment Research upgraded shares of First Republic Bank from a sell rating to a hold rating in a report on Wednesday, June 21st. Wedbush restated an outperform rating and issued a $121.00 price target on shares of First Republic Bank in a research report on Tuesday, June 27th. Finally, Morgan Stanley restated an equal weight rating and issued a $104.00 price target (up previously from $102.00) on shares of First Republic Bank in a research report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. First Republic Bank currently has an average rating of Hold and a consensus price target of $105.38.
First Republic Bank (NYSE FRC) opened at 105.01 on Friday. The stock has a market cap of $16.57 billion, a PE ratio of 25.62 and a beta of 1.01. First Republic Bank has a 12 month low of $72.40 and a 12 month high of $105.34. The stock has a 50 day moving average price of $98.08 and a 200-day moving average price of $96.62.
First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Friday, July 14th. The bank reported $1.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.03). The company had revenue of $641.30 million during the quarter, compared to analyst estimates of $671.27 million. First Republic Bank had a net margin of 27.37% and a return on equity of 12.16%. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.97 EPS. On average, analysts expect that First Republic Bank will post $4.46 EPS for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Highwater Wealth Management LLC purchased a new stake in shares of First Republic Bank during the second quarter worth $256,000. CI Global Investments Inc. raised its stake in shares of First Republic Bank by 1,074.8% during the 2nd quarter. CI Global Investments Inc. now owns 6,238 shares of the bank’s stock worth $624,000 after purchasing an additional 5,707 shares in the last quarter. Barings LLC lifted its holdings in shares of First Republic Bank by 262.3% during the 1st quarter. Barings LLC now owns 29,708 shares of the bank’s stock valued at $2,787,000 after buying an additional 21,508 shares during the last quarter. Utah Retirement Systems lifted its holdings in shares of First Republic Bank by 2.1% during the 2nd quarter. Utah Retirement Systems now owns 28,602 shares of the bank’s stock valued at $2,863,000 after buying an additional 600 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of First Republic Bank during the 1st quarter valued at about $19,569,000. 97.73% of the stock is currently owned by institutional investors and hedge funds.
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.
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