A number of other research analysts have also recently commented on FRC. Wedbush restated an outperform rating and issued a $121.00 target price on shares of First Republic Bank in a research note on Tuesday, June 27th. BidaskClub upgraded First Republic Bank from a hold rating to a buy rating in a research note on Saturday, July 1st. Morgan Stanley restated an equal weight rating and issued a $104.00 target price (up previously from $102.00) on shares of First Republic Bank in a research note on Thursday, July 6th. Royal Bank Of Canada restated a hold rating and issued a $98.00 target price on shares of First Republic Bank in a research note on Friday, July 7th. Finally, Maxim Group restated a buy rating and issued a $110.00 target price (up previously from $105.00) on shares of First Republic Bank in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $102.93.
Shares of First Republic Bank (NYSE:FRC) traded up 1.21% during trading on Monday, reaching $98.63. The company’s stock had a trading volume of 78,095 shares. First Republic Bank has a 52-week low of $72.43 and a 52-week high of $105.52. The stock’s 50 day moving average price is $99.52 and its 200-day moving average price is $97.38. The stock has a market cap of $15.58 billion, a price-to-earnings ratio of 23.26 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 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.02). The firm had revenue of $670.30 million during the quarter, compared to analysts’ expectations of $678.25 million. First Republic Bank had a net margin of 26.85% and a return on equity of 12.06%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 EPS. Equities analysts anticipate that First Republic Bank will post $4.38 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 26th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Wednesday, October 25th. First Republic Bank’s payout ratio is 16.04%.
Large investors have recently made changes to their positions in the business. Bank of Nova Scotia purchased a new position in First Republic Bank during the first quarter valued at $483,000. Barnett & Company Inc. purchased a new position in First Republic Bank during the second quarter valued at $100,000. Whittier Trust Co. of Nevada Inc. raised its stake in First Republic Bank by 100.6% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,071 shares of the bank’s stock valued at $107,000 after buying an additional 537 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new position in First Republic Bank during the second quarter valued at $128,000. Finally, Parallel Advisors LLC raised its stake in First Republic Bank by 21.4% during the second quarter. Parallel Advisors LLC now owns 1,317 shares of the bank’s stock valued at $132,000 after buying an additional 232 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.
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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