Jefferies Group LLC reaffirmed their buy rating on shares of First Republic Bank (NYSE:FRC) in a research report sent to investors on Thursday, October 19th. Jefferies Group LLC currently has a $111.00 price target on the bank’s stock. Jefferies Group also issued estimates for First Republic Bank’s Q4 2017 earnings at $1.12 EPS, FY2017 earnings at $4.34 EPS, Q1 2018 earnings at $1.08 EPS, Q2 2018 earnings at $1.16 EPS, Q3 2018 earnings at $1.25 EPS, Q4 2018 earnings at $1.31 EPS, FY2018 earnings at $4.80 EPS and FY2019 earnings at $5.40 EPS.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut First Republic Bank from a hold rating to a sell rating in a report on Tuesday, October 17th. Barclays PLC set a $102.00 target price on First Republic Bank and gave the stock a hold rating in a report on Monday, October 16th. Raymond James Financial, Inc. lowered their price target on First Republic Bank from $108.00 to $105.00 and set an outperform rating for the company in a research report on Monday, October 16th. Wells Fargo & Company lowered their price target on First Republic Bank from $100.00 to $95.00 and set a market perform rating for the company in a research report on Monday, October 16th. Finally, BMO Capital Markets lowered their price target on First Republic Bank from $96.00 to $92.00 and set a market perform rating for the company in a research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. First Republic Bank presently has an average rating of Hold and an average target price of $102.93.
Shares of First Republic Bank (NYSE:FRC) traded down $0.73 on Thursday, hitting $93.70. The company had a trading volume of 1,700,554 shares, compared to its average volume of 1,260,000. First Republic Bank has a 12 month low of $73.57 and a 12 month high of $105.52. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. The company has a market cap of $14,710.00, a PE ratio of 22.28, a P/E/G ratio of 1.75 and a beta of 0.99.
First Republic Bank (NYSE:FRC) last issued its earnings results on Friday, October 13th. The bank reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The firm had revenue of $670.30 million during the quarter, compared to the consensus estimate of $678.25 million. During the same quarter in the prior year, the business earned $1.00 earnings per share. First Republic Bank’s revenue for the quarter was up 20.1% on a year-over-year basis. analysts anticipate that First Republic Bank will post 4.38 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 26th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Wednesday, October 25th. First Republic Bank’s dividend payout ratio is presently 16.04%.
Institutional investors have recently made changes to their positions in the company. Highwater Wealth Management LLC purchased a new stake in shares of First Republic Bank during the 2nd quarter valued at $256,000. CI Global Investments Inc. increased its holdings in First Republic Bank by 1,074.8% in the 2nd quarter. CI Global Investments Inc. now owns 6,238 shares of the bank’s stock worth $624,000 after acquiring an additional 5,707 shares during the last quarter. Barings LLC increased its holdings in First Republic Bank by 262.3% in the 1st quarter. Barings LLC now owns 29,708 shares of the bank’s stock worth $2,787,000 after acquiring an additional 21,508 shares during the last quarter. Utah Retirement Systems increased its holdings in First Republic Bank by 2.1% in the 2nd quarter. Utah Retirement Systems now owns 28,602 shares of the bank’s stock worth $2,863,000 after acquiring an additional 600 shares during the last quarter. Finally, California Capital Advisors Inc. purchased a new stake in First Republic Bank in the 3rd quarter worth about $639,000. 97.98% of the stock is owned by hedge funds and other institutional investors.
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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