First Republic Bank (FRC) Price Target Cut to $95.00 by Analysts at Wells Fargo & Company

First Republic Bank (NYSE:FRC) had its price objective trimmed by Wells Fargo & Company from $100.00 to $95.00 in a research report report published on Monday morning. The firm currently has a market perform rating on the bank’s stock.

Other analysts have also issued research reports about the stock. Maxim Group restated a buy rating and issued a $110.00 price target (up previously from $105.00) on shares of First Republic Bank in a research note on Friday, July 14th. Piper Jaffray Companies restated a hold rating and issued a $99.00 price target on shares of First Republic Bank in a research note on Friday, July 14th. BMO Capital Markets dropped their price target on shares of First Republic Bank from $96.00 to $92.00 and set a market perform rating for the company in a research note on Monday. BidaskClub lowered shares of First Republic Bank from a buy rating to a hold rating in a research note on Thursday, July 13th. Finally, Wedbush restated an outperform rating and issued a $121.00 price target on shares of First Republic Bank in a research note on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $103.57.

Shares of First Republic Bank (FRC) traded up 0.626% on Monday, hitting $97.265. 311,802 shares of the stock traded hands. The firm’s 50-day moving average is $99.63 and its 200 day moving average is $97.35. The firm has a market cap of $15.36 billion, a P/E ratio of 22.940 and a beta of 1.01. First Republic Bank has a 12-month low of $72.43 and a 12-month high of $105.52.

First Republic Bank (NYSE:FRC) last issued its quarterly 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). The company had revenue of $670.30 million during the quarter, compared to the consensus estimate of $678.25 million. First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 EPS. Equities research analysts forecast that First Republic Bank will post $4.40 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This story was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was illegally stolen and republished in violation of U.S. and international copyright legislation. The correct version of this story can be read at https://ledgergazette.com/2017/10/17/first-republic-bank-frc-price-target-cut-to-95-00-by-analysts-at-wells-fargo-company.html.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 26th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Wednesday, October 25th. First Republic Bank’s dividend payout ratio (DPR) is 16.04%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank boosted its holdings in shares of First Republic Bank by 8.9% during the second quarter. Toronto Dominion Bank now owns 2,117 shares of the bank’s stock valued at $212,000 after acquiring an additional 173 shares during the period. WINTON GROUP Ltd acquired a new position in shares of First Republic Bank during the second quarter valued at $462,000. Colony Group LLC boosted its holdings in shares of First Republic Bank by 0.9% during the second quarter. Colony Group LLC now owns 25,889 shares of the bank’s stock valued at $2,591,000 after acquiring an additional 219 shares during the period. National Asset Management Inc. boosted its holdings in shares of First Republic Bank by 10.4% during the second quarter. National Asset Management Inc. now owns 5,001 shares of the bank’s stock valued at $503,000 after acquiring an additional 472 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in shares of First Republic Bank by 250.2% during the second quar

Other analysts have also issued research reports about the stock. Maxim Group restated a buy rating and issued a $110.00 price target (up previously from $105.00) on shares of First Republic Bank in a research note on Friday, July 14th. Piper Jaffray Companies restated a hold rating and issued a $99.00 price target on shares of First Republic Bank in a research note on Friday, July 14th. BMO Capital Markets dropped their price target on shares of First Republic Bank from $96.00 to $92.00 and set a market perform rating for the company in a research note on Monday. BidaskClub lowered shares of First Republic Bank from a buy rating to a hold rating in a research note on Thursday, July 13th. Finally, Wedbush restated an outperform rating and issued a $121.00 price target on shares of First Republic Bank in a research note on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $103.57.

Shares of First Republic Bank (FRC) traded up 0.626% on Monday, hitting $97.265. 311,802 shares of the stock traded hands. The firm’s 50-day moving average is $99.63 and its 200 day moving average is $97.35. The firm has a market cap of $15.36 billion, a P/E ratio of 22.940 and a beta of 1.01. First Republic Bank has a 12-month low of $72.43 and a 12-month high of $105.52.

First Republic Bank (NYSE:FRC) last issued its quarterly 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). The company had revenue of $670.30 million during the quarter, compared to the consensus estimate of $678.25 million. First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 EPS. Equities research analysts forecast that First Republic Bank will post $4.40 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This story was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was illegally stolen and republished in violation of U.S. and international copyright legislation. The correct version of this story can be read at https://ledgergazette.com/2017/10/17/first-republic-bank-frc-price-target-cut-to-95-00-by-analysts-at-wells-fargo-company.html.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 26th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Wednesday, October 25th. First Republic Bank’s dividend payout ratio (DPR) is 16.04%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank boosted its holdings in shares of First Republic Bank by 8.9% during the second quarter. Toronto Dominion Bank now owns 2,117 shares of the bank’s stock valued at $212,000 after acquiring an additional 173 shares during the period. WINTON GROUP Ltd acquired a new position in shares of First Republic Bank during the second quarter valued at $462,000. Colony Group LLC boosted its holdings in shares of First Republic Bank by 0.9% during the second quarter. Colony Group LLC now owns 25,889 shares of the bank’s stock valued at $2,591,000 after acquiring an additional 219 shares during the period. National Asset Management Inc. boosted its holdings in shares of First Republic Bank by 10.4% during the second quarter. National Asset Management Inc. now owns 5,001 shares of the bank’s stock valued at $503,000 after acquiring an additional 472 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in shares of First Republic Bank by 250.2% during the second quarter. Sterling Capital Management LLC now owns 50,860 shares of the bank’s stock valued at $5,091,000 after acquiring an additional 36,337 shares during the period. 97.72% of the stock is owned by 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.

Analyst Recommendations for First Republic Bank (NYSE:FRC)

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