First Republic Bank (NYSE:FRC) had its price target increased by investment analysts at Wells Fargo & Co from $95.00 to $100.00 in a research report issued on Tuesday. The firm currently has a “market perform” rating on the bank’s stock. Wells Fargo & Co’s target price points to a potential upside of 1.90% from the company’s previous close.
Other research analysts also recently issued reports about the company. Citigroup initiated coverage on First Republic Bank in a report on Monday, June 18th. They issued a “buy” rating and a $120.00 price target for the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $95.00 target price on shares of First Republic Bank in a research note on Tuesday, February 27th. Zacks Investment Research raised First Republic Bank from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Jefferies Financial Group reaffirmed a “hold” rating and set a $88.00 target price on shares of First Republic Bank in a research note on Wednesday, April 18th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $96.00 target price on shares of First Republic Bank in a research note on Friday, April 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $102.50.
Shares of First Republic Bank opened at $98.14 on Tuesday, Marketbeat.com reports. First Republic Bank has a 12-month low of $84.56 and a 12-month high of $105.52. The company has a market capitalization of $15.66 billion, a price-to-earnings ratio of 22.77, a P/E/G ratio of 1.63 and a beta of 0.85. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.97 and a quick ratio of 0.96.
First Republic Bank (NYSE:FRC) last announced its quarterly earnings results on Friday, April 13th. The bank reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.07. First Republic Bank had a return on equity of 11.76% and a net margin of 25.33%. The company had revenue of $720.90 million during the quarter, compared to the consensus estimate of $732.68 million. During the same period in the previous year, the company posted $1.01 earnings per share. First Republic Bank’s revenue for the quarter was up 10.9% on a year-over-year basis. sell-side analysts anticipate that First Republic Bank will post 4.8 EPS for the current year.
Hedge funds have recently made changes to their positions in the company. Mount Yale Investment Advisors LLC acquired a new position in First Republic Bank in the 1st quarter valued at $397,000. Nicola Wealth Management LTD. acquired a new position in First Republic Bank in the 1st quarter valued at $1,361,000. Suntrust Banks Inc. raised its stake in First Republic Bank by 29.5% in the 1st quarter. Suntrust Banks Inc. now owns 15,901 shares of the bank’s stock valued at $1,471,000 after purchasing an additional 3,626 shares during the last quarter. Allianz Asset Management GmbH raised its stake in First Republic Bank by 3.8% in the 1st quarter. Allianz Asset Management GmbH now owns 144,065 shares of the bank’s stock valued at $13,342,000 after purchasing an additional 5,300 shares during the last quarter. Finally, Amalgamated Bank raised its stake in First Republic Bank by 9.7% in the 1st quarter. Amalgamated Bank now owns 20,245 shares of the bank’s stock valued at $1,875,000 after purchasing an additional 1,783 shares during the last quarter.
First Republic Bank Company Profile
First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas of the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers deposit products, such as checking, money market checking, savings, and passbook deposits, as well as certificates of deposit.
Receive News & Ratings for First Republic Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Republic Bank and related companies with MarketBeat.com's FREE daily email newsletter.