Keefe, Bruyette & Woods reissued their hold rating on shares of First Republic Bank (NYSE:FRC) in a research note issued to investors on Tuesday. The firm currently has a $95.00 price objective on the bank’s stock.
Several other brokerages have also recently commented on FRC. Sandler O’Neill reiterated a hold rating and issued a $94.00 target price on shares of First Republic Bank in a report on Wednesday, January 17th. Morgan Stanley reiterated an equal weight rating and issued a $106.00 target price on shares of First Republic Bank in a report on Thursday, December 14th. Zacks Investment Research upgraded First Republic Bank from a sell rating to a hold rating in a report on Friday, December 8th. Jefferies Group cut First Republic Bank from a buy rating to a hold rating in a report on Friday, December 15th. Finally, Maxim Group reiterated a buy rating and issued a $110.00 target price on shares of First Republic Bank in a report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $102.15.
Shares of First Republic Bank (NYSE FRC) opened at $94.57 on Tuesday. First Republic Bank has a twelve month low of $84.56 and a twelve month high of $105.52. The company has a market capitalization of $15,290.00, a P/E ratio of 21.94, a P/E/G ratio of 1.58 and a beta of 0.91. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.46.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 8th. Shareholders of record on Thursday, January 25th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Wednesday, January 24th. First Republic Bank’s payout ratio is 15.78%.
Several institutional investors have recently bought and sold shares of FRC. YorkBridge Wealth Partners LLC boosted its holdings in shares of First Republic Bank by 3,865.5% during the 4th quarter. YorkBridge Wealth Partners LLC now owns 1,150 shares of the bank’s stock worth $101,000 after buying an additional 1,121 shares in the last quarter. Cerebellum GP LLC bought a new position in shares of First Republic Bank during the 4th quarter worth approximately $127,000. Zions Bancorporation bought a new position in shares of First Republic Bank during the 3rd quarter worth approximately $160,000. Intrust Bank NA bought a new position in shares of First Republic Bank during the 4th quarter worth approximately $203,000. Finally, Mawer Investment Management Ltd. bought a new position in shares of First Republic Bank during the 3rd quarter worth approximately $209,000.
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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.
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