First Republic Bank (FRC) Given Average Recommendation of “Buy” by Analysts

Shares of First Republic Bank (NYSE:FRC) have been given an average recommendation of “Buy” by the fourteen analysts that are presently covering the firm. Six analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $93.10.

A number of brokerages recently weighed in on FRC. Maxim Group raised their target price on shares of First Republic Bank from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, January 17th. Royal Bank of Canada restated a “sector perform” rating and set a $98.00 target price (up from $95.00) on shares of First Republic Bank in a report on Friday, March 10th. FBR & Co raised their target price on shares of First Republic Bank from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, January 17th. Zacks Investment Research upgraded shares of First Republic Bank from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a report on Wednesday, January 11th. Finally, Wells Fargo & Co cut shares of First Republic Bank from an “outperform” rating to a “market perform” rating in a report on Monday, January 9th.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRC. Raymond James Trust N.A. increased its position in First Republic Bank by 0.6% in the third quarter. Raymond James Trust N.A. now owns 2,984 shares of the company’s stock worth $230,000 after buying an additional 18 shares in the last quarter. Keybank National Association OH increased its position in First Republic Bank by 0.9% in the fourth quarter. Keybank National Association OH now owns 2,946 shares of the company’s stock worth $271,000 after buying an additional 25 shares in the last quarter. Capital One National Association increased its position in First Republic Bank by 0.4% in the third quarter. Capital One National Association now owns 13,882 shares of the company’s stock worth $1,070,000 after buying an additional 54 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its position in First Republic Bank by 0.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,785 shares of the company’s stock worth $625,000 after buying an additional 56 shares in the last quarter. Finally, D L Carlson Investment Group Inc. increased its position in First Republic Bank by 0.3% in the third quarter. D L Carlson Investment Group Inc. now owns 21,235 shares of the company’s stock worth $1,637,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 97.08% of the company’s stock.

Shares of First Republic Bank (NYSE:FRC) traded down 0.35% during midday trading on Monday, hitting $94.76. The stock had a trading volume of 231,821 shares. The firm has a 50 day moving average of $95.35 and a 200-day moving average of $85.66. The company has a market cap of $14.64 billion, a P/E ratio of 24.11 and a beta of 1.03. First Republic Bank has a one year low of $63.97 and a one year high of $97.43.

First Republic Bank (NYSE:FRC) last issued its earnings results on Friday, January 13th. The company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.02. The firm earned $599.50 million during the quarter, compared to analysts’ expectations of $623.91 million. First Republic Bank had a net margin of 27.98% and a return on equity of 12.38%. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. On average, analysts forecast that First Republic Bank will post $4.56 earnings per share for the current fiscal year.

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.

5 Day Chart for NYSE:FRC

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