A number of other analysts also recently commented on the company. Deutsche Bank AG increased their price target on First Republic Bank from $83.00 to $85.00 and gave the company a hold rating in a research report on Tuesday, October 11th. Zacks Investment Research downgraded First Republic Bank from a buy rating to a hold rating in a research report on Wednesday, October 5th. Barclays PLC increased their price target on First Republic Bank from $78.00 to $84.00 and gave the company an overweight rating in a research report on Thursday, August 11th. BMO Capital Markets reiterated a market perform rating and set a $71.00 price target on shares of First Republic Bank in a research report on Friday, July 15th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating on shares of First Republic Bank in a research report on Sunday, July 17th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $77.00.
First Republic Bank (NYSE:FRC) traded up 0.07% on Friday, hitting $73.37. The company’s stock had a trading volume of 141,000 shares. First Republic Bank has a 12 month low of $56.32 and a 12 month high of $79.15. The stock has a market cap of $10.99 billion, a PE ratio of 20.59 and a beta of 1.06. The firm has a 50 day moving average of $76.66 and a 200-day moving average of $71.69.
First Republic Bank (NYSE:FRC) last posted its earnings results on Thursday, October 13th. The company reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.01. First Republic Bank had a return on equity of 12.95% and a net margin of 27.68%. The company had revenue of $557.90 million for the quarter, compared to analyst estimates of $592.65 million. During the same quarter last year, the company earned $0.79 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts expect that First Republic Bank will post $3.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Thursday, October 27th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, October 25th. This represents a $0.64 annualized dividend and a yield of 0.87%. First Republic Bank’s dividend payout ratio is currently 17.34%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Trust N.A. increased its position in shares of First Republic Bank by 0.6% in the third quarter. Raymond James Trust N.A. now owns 2,984 shares of the company’s stock valued at $230,000 after buying an additional 18 shares in the last quarter. Franklin Resources Inc. boosted its stake in First Republic Bank by 1.4% in the second quarter. Franklin Resources Inc. now owns 3,904 shares of the company’s stock valued at $273,000 after buying an additional 55 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its stake in First Republic Bank by 1.3% in the second quarter. Moody Lynn & Lieberson LLC now owns 7,246 shares of the company’s stock valued at $507,000 after buying an additional 93 shares during the last quarter. Cambridge Trust Co. boosted its stake in First Republic Bank by 4.1% in the second quarter. Cambridge Trust Co. now owns 4,811 shares of the company’s stock valued at $337,000 after buying an additional 188 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in First Republic Bank by 0.7% in the first quarter. Loomis Sayles & Co. L P now owns 34,120 shares of the company’s stock valued at $2,274,000 after buying an additional 226 shares during the last quarter. Institutional investors and hedge funds own 98.21% 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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