Somewhat Favorable Media Coverage Somewhat Unlikely to Affect First Republic Bank (FRC) Share Price
Press coverage about First Republic Bank (NYSE:FRC) has trended somewhat positive this week, Accern Sentiment reports. Accern identifies negative and positive media coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. First Republic Bank earned a coverage optimism score of 0.18 on Accern’s scale. Accern also gave media headlines about the bank an impact score of 46.4625995345973 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the news stories that may have impacted Accern Sentiment Analysis’s scoring:
- Is Either First Republic Bank (NYSE:FRC) or Magellan Midstream Partners, LP (NYSE:MMP) a Sensible Stock at … – FLBC News (flbcnews.com)
- First Republic Bank (FRC) and Nomad Foods Ltd (NOMD) Seeing Needle Moving This Session – Evergreen Caller (evergreencaller.com)
- First Republic’s Revenue Growth on Track, Higher Costs a Woe – Yahoo Finance (finance.yahoo.com)
- First Republic Bank, Inc. breached its 50 day moving average in a Bearish Manner : FRC-US : August 11, 2017 (finance.yahoo.com)
- Moody’s assigns provisional ratings to Prime RMBS issued by Sequoia Mortgage Trust 2017-6 (finance.yahoo.com)
Shares of First Republic Bank (NYSE:FRC) traded up 0.10% during mid-day trading on Tuesday, reaching $98.75. The company’s stock had a trading volume of 431,415 shares. The stock has a market capitalization of $15.58 billion, a P/E ratio of 24.09 and a beta of 0.99. First Republic Bank has a 12-month low of $72.40 and a 12-month high of $104.17. The company’s 50-day moving average price is $100.78 and its 200-day moving average price is $95.98.
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 consensus estimate of $1.09 by $0.03. The firm had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $671.27 million. First Republic Bank had a net margin of 27.37% and a return on equity of 12.16%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 EPS. On average, equities research analysts forecast that First Republic Bank will post $4.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Shareholders of record on Thursday, July 27th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.69%. The ex-dividend date was Tuesday, July 25th. First Republic Bank’s dividend payout ratio is presently 16.59%.
FRC has been the subject of several recent analyst reports. Piper Jaffray Companies cut their price objective on First Republic Bank from $97.00 to $92.00 and set a “neutral” rating for the company in a report on Monday, April 17th. Deutsche Bank AG boosted their price objective on First Republic Bank from $98.00 to $101.00 and gave the stock a “hold” rating in a report on Tuesday, April 18th. Barclays PLC boosted their price objective on First Republic Bank from $100.00 to $101.00 and gave the stock an “overweight” rating in a report on Wednesday, April 19th. Zacks Investment Research lowered First Republic Bank from a “hold” rating to a “sell” rating in a report on Tuesday, June 6th. Finally, Wedbush reissued an “outperform” rating and set a $121.00 price objective on shares of First Republic Bank in a report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. First Republic Bank has an average rating of “Hold” and an average target price of $104.54.
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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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