First Republic Bank (NYSE:FRC) has been assigned a consensus rating of “Hold” from the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $103.00.
A number of brokerages have recently weighed in on FRC. Raymond James downgraded First Republic Bank to a “hold” rating in a research note on Monday, July 8th. Zacks Investment Research downgraded First Republic Bank from a “hold” rating to a “sell” rating and set a $104.00 target price on the stock. in a research note on Friday, July 5th. Maxim Group restated a “buy” rating and issued a $110.00 target price on shares of First Republic Bank in a research note on Wednesday, July 17th. Wedbush restated an “outperform” rating on shares of First Republic Bank in a research note on Tuesday, July 16th. Finally, Credit Suisse Group dropped their price objective on First Republic Bank from $105.00 to $98.00 and set a “neutral” rating on the stock in a research note on Thursday, July 18th.
FRC traded up $0.29 during midday trading on Wednesday, reaching $92.35. 45,052 shares of the company were exchanged, compared to its average volume of 1,085,496. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.01 and a current ratio of 1.01. The company’s fifty day moving average price is $97.20 and its 200 day moving average price is $100.20. The company has a market cap of $15.16 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 2.60 and a beta of 0.85. First Republic Bank has a one year low of $79.42 and a one year high of $107.75.
First Republic Bank (NYSE:FRC) last announced its earnings results on Tuesday, July 16th. The bank reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.02). First Republic Bank had a return on equity of 11.30% and a net margin of 22.94%. The business had revenue of $819.38 million during the quarter, compared to analysts’ expectations of $836.26 million. During the same quarter in the previous year, the firm earned $1.20 EPS. As a group, sell-side analysts anticipate that First Republic Bank will post 4.98 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, July 25th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.76 annualized dividend and a dividend yield of 0.82%. First Republic Bank’s dividend payout ratio is currently 15.80%.
Several large investors have recently bought and sold shares of the business. TRUE Private Wealth Advisors bought a new position in shares of First Republic Bank in the second quarter worth $28,000. Destination Wealth Management bought a new position in First Republic Bank in the first quarter valued at $32,000. CSat Investment Advisory L.P. increased its stake in First Republic Bank by 113.6% in the second quarter. CSat Investment Advisory L.P. now owns 361 shares of the bank’s stock valued at $35,000 after acquiring an additional 192 shares during the last quarter. Carroll Financial Associates Inc. increased its stake in First Republic Bank by 112.6% in the first quarter. Carroll Financial Associates Inc. now owns 404 shares of the bank’s stock valued at $40,000 after acquiring an additional 214 shares during the last quarter. Finally, Commonwealth Bank of Australia increased its stake in First Republic Bank by 34.5% in the second quarter. Commonwealth Bank of Australia now owns 452 shares of the bank’s stock valued at $42,000 after acquiring an additional 116 shares during the last quarter.
First Republic Bank Company Profile
First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit.
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