Investment Analysts’ Weekly Ratings Updates for First Republic Bank (FRC)

Several brokerages have updated their recommendations and price targets on shares of First Republic Bank (NYSE: FRC) in the last few weeks:

  • 10/15/2016 – First Republic Bank was given a new $81.00 price target on by analysts at Barclays PLC. They now have a “buy” rating on the stock.
  • 10/14/2016 – First Republic Bank had its price target raised by analysts at FBR & Co from $73.00 to $80.00. They now have a “mkt perform” rating on the stock.
  • 10/14/2016 – First Republic Bank had its price target raised by analysts at Maxim Group from $83.00 to $86.00. They now have a “buy” rating on the stock.
  • 10/14/2016 – First Republic Bank had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods.
  • 10/11/2016 – First Republic Bank had its price target raised by analysts at Deutsche Bank AG from $83.00 to $85.00. They now have a “hold” rating on the stock.
  • 10/5/2016 – First Republic Bank was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “First Republic’s estimates have been stable lately ahead of its third-quarter 2016 earnings release. The company has positive record of earnings surprises in recent quarters. The company is well positioned for growth, given its simpler business model and non-engagement in additional businesses. Also, an eventual rise in interest rates is projected to bolster net interest income going forward. Further, with improving economy, the company should benefit from continued rise in loans and deposits. However, margin pressure is expected to continue until there is a significant rise in interest rate. Also, rising expenses will deter bottom-line expansion, resulting mainly from stringent regulatory norms. Moreover, stricter regulatory capital requirements are likely to limit flexibility in business operations.”
  • 10/4/2016 – First Republic Bank was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $86.00 price target on the stock. According to Zacks, “First Republic Bank’s estimates have been stable lately ahead of its third-quarter 2016 earnings release. Despite entry into the competitive market with larger players, the bank is well positioned for growth, given its simpler business model and non-engagement in additional businesses as compared to most large banking institutions. Also, an eventual rise in interest rates is projected to bolster net interest income growth going forward. Further, with improving economy, the company should benefit from continued rise in loans and deposits record. However, margin pressure, escalating costs and the stringent regulatory landscape remain concerns for First Republic.”
  • 9/14/2016 – First Republic Bank was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “While the entry into the competitive market with larger players might pose a challenge for First Republic, we believe that the bank is well positioned to counter the same and will have adequate room for further growth, given its strong capital position, simpler business model and non-engagement in additional businesses as compared to most large banking institutions. Though margin pressure, escalating expenses and stringent regulatory issues remain matters of concern, First Republic’s strong fundamentals and earnings strength are expected to drive growth in the coming quarters.”

First Republic Bank (NYSE:FRC) traded up 0.471% on Tuesday, reaching $73.535. 203,792 shares of the company’s stock were exchanged. First Republic Bank has a 1-year low of $56.32 and a 1-year high of $79.15. The firm has a 50-day moving average price of $76.61 and a 200-day moving average price of $71.81. The company has a market capitalization of $11.02 billion, a P/E ratio of 20.639 and a beta of 1.06.

First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Thursday, October 13th. The company reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.01. First Republic Bank had a net margin of 27.68% and a return on equity of 12.95%. The company had revenue of $557.90 million for the quarter, compared to the consensus estimate of $592.65 million. During the same period in the prior year, the firm posted $0.79 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities research analysts expect that First Republic Bank will post $3.91 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Thursday, October 27th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Tuesday, October 25th. First Republic Bank’s dividend payout ratio is presently 17.34%.

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.

5 Day Chart for NYSE:FRC

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