First Republic Bank (NYSE:FRC) Receives Consensus Rating of “Hold” by Analysts
First Republic Bank (NYSE:FRC – Get Rating) has been awarded a consensus recommendation of “Hold” from the fifteen analysts who currently cover the company, MarketBeat reports. One equity research analyst gave the stock a sell rating, eight issued a hold rating and six gave the company a buy rating. The 12-month average target price among brokerages that updated their coverage on the stock in the past year is $200.14.
Several equity analysts have recently commented on the stock. Credit Suisse Group downgraded First Republic Bank shares from an ‘underperforming’ to a ‘neutral’ rating and set a target price of $187.00 on the stock in a Tuesday, April 5 report . Royal Bank of Canada raised its price target on First Republic Bank shares from $184.00 to $187.00 and gave the company an “industry performance” rating in a Thursday 14 research note. april. Morgan Stanley raised its price target on First Republic Bank shares from $173.00 to $180.00 and gave the stock an “equal weight” rating in a Thursday, April 14 report. Wolfe Research lowered its price target on First Republic Bank shares from $194.00 to $157.00 and set an “outperform” rating on the stock in a Thursday, May 26 report. Finally, Wells Fargo & Company lowered its price target on First Republic Bank shares from $180.00 to $165.00 and set an “underweight” rating on the stock in a Thursday, April 14 report. .
FRC stock opened at $153.74 on Friday. The company has a market capitalization of $27.62 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.50 and a beta of 1.11. First Republic Bank has a 52-week low of $136.31 and a 52-week high of $222.86. The company has a debt ratio of 0.44, a quick ratio of 0.92 and a current ratio of 0.92. The company’s fifty-day moving average is $154.11 and its 200-day moving average is $176.12.
First Republic Bank (NYSE:FRC – Get Rating) last reported quarterly results on Wednesday, April 13. The bank reported earnings per share (EPS) of $2.00 for the quarter, beating analyst consensus estimates of $1.90 by $0.10. The company posted revenue of $1.40 billion for the quarter, compared to analysts’ estimates of $1.40 billion. First Republic Bank had a net margin of 27.93% and a return on equity of 12.91%. The company’s revenue increased 27.3% year over year. In the same quarter last year, the company achieved EPS of $1.79. As a group, analysts expect First Republic Bank to post EPS of 8.45 for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 12. Shareholders of record on Thursday, April 28 received a dividend of $0.27. This is a boost from First Republic Bank’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, April 27. This represents an annualized dividend of $1.08 and a yield of 0.70%. First Republic Bank’s dividend payout ratio is currently 13.71%.
A number of institutional investors have recently bought and sold shares of FRC. Greenleaf Trust increased its holdings in First Republic Bank by 5.6% in the third quarter. Greenleaf Trust now owns 1,255 shares of the bank valued at $242,000 after buying 67 more shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in First Republic Bank by 5.1% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,860 shares of the bank valued at $359,000 after buying 90 more shares in the last quarter. Natixis increased its equity stake in First Republic Bank by 254.6% during the third quarter. Natixis now owns 34,630 shares of the bank valued at $6,679,000 after acquiring an additional 24,865 shares in the last quarter. HighTower Advisors LLC increased its stake in First Republic Bank shares by 0.9% during the third quarter. HighTower Advisors LLC now owns 10,081 shares of the bank valued at $1,953,000 after acquiring 87 additional shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in First Republic Bank shares by 4.4% during the third quarter. GSA Capital Partners LLP now owns 1,611 shares of the bank valued at $311,000 after acquiring 68 additional shares in the last quarter. 94.41% of the shares are currently held by institutional investors.
First Republic Bank Company Profile (Get a rating)
First Republic Bank, together with its subsidiaries, provides private banking, private corporate banking, and private wealth management services to customers in metropolitan areas of the United States. It operates through two segments, Commercial Banking and Wealth Management. The Company accepts deposit products, such as non-interest bearing checks, interest bearing checks, money market checking accounts, money market savings accounts and passbook accounts, as well as certificates of deposit.
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