First Republic Bank (FRC) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their hold rating on shares of First Republic Bank (NYSE:FRC) in a research report report published on Wednesday morning.

Several other equities analysts have also weighed in on FRC. Piper Jaffray Companies set a $99.00 target price on First Republic Bank and gave the company a hold rating in a report on Sunday, October 15th. Sandler O’Neill reaffirmed a hold rating and issued a $94.00 price target on shares of First Republic Bank in a research report on Wednesday. Jefferies Group raised their price target on First Republic Bank from $109.00 to $120.00 and gave the company a buy rating in a research report on Friday, September 29th. Barclays downgraded First Republic Bank from an overweight rating to an equal weight rating and lowered their price target for the company from $108.00 to $104.00 in a research report on Tuesday, October 10th. Finally, Wells Fargo & Co lowered their price target on First Republic Bank from $100.00 to $95.00 and set a market perform rating on the stock in a research report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $102.21.

First Republic Bank (NYSE FRC) traded down $2.43 during midday trading on Wednesday, reaching $85.97. The company’s stock had a trading volume of 1,709,542 shares, compared to its average volume of 1,680,000. First Republic Bank has a one year low of $84.56 and a one year high of $105.52. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $13,520.00, a price-to-earnings ratio of 19.95, a P/E/G ratio of 1.37 and a beta of 0.96.

First Republic Bank (NYSE:FRC) last posted its earnings results on Tuesday, January 16th. The bank reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.05). First Republic Bank had a net margin of 26.02% and a return on equity of 12.05%. The company had revenue of $699.20 million for the quarter, compared to the consensus estimate of $688.48 million. During the same quarter last year, the business earned $1.03 earnings per share. First Republic Bank’s quarterly revenue was up 16.6% on a year-over-year basis. analysts forecast that First Republic Bank will post 5.13 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 8th. Stockholders of record on Thursday, January 25th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Wednesday, January 24th. First Republic Bank’s dividend payout ratio is currently 15.78%.

Large investors have recently modified their holdings of the company. Zions Bancorporation acquired a new stake in shares of First Republic Bank in the third quarter valued at about $160,000. Mawer Investment Management Ltd. acquired a new stake in First Republic Bank during the third quarter worth about $209,000. Cambridge Investment Research Advisors Inc. acquired a new stake in First Republic Bank during the third quarter worth about $209,000. Brookmont Capital Management acquired a new stake in First Republic Bank during the third quarter worth about $210,000. Finally, Toronto Dominion Bank grew its position in First Republic Bank by 8.9% during the second quarter. Toronto Dominion Bank now owns 2,117 shares of the bank’s stock worth $212,000 after buying an additional 173 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for First Republic Bank (NYSE:FRC)

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