First Republic Bank (NYSE:FRC) Receives $103.00 Consensus Price Target from Brokerages

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First Republic Bank (NYSE:FRC) has earned a consensus rating of “Hold” from the fifteen research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $103.00.

A number of research analysts have commented on the stock. Raymond James downgraded shares of First Midwest Bancorp to a “hold” rating in a research report on Monday, July 8th. Credit Suisse Group reiterated a “buy” rating and issued a $90.00 target price on shares of Bayerische Motoren Werke in a research note on Thursday, July 18th. Zacks Investment Research upgraded shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Friday, July 5th. Wells Fargo & Co set a $68.00 price objective on shares of Emergent Biosolutions and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Finally, BMO Capital Markets boosted their target price on shares of Citigroup from $92.00 to $93.00 and gave the company an “outperform” rating in a research note on Monday, April 15th.

FRC stock opened at $96.93 on Friday. First Republic Bank has a 52 week low of $79.42 and a 52 week high of $107.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.34. The company’s fifty day simple moving average is $97.66. The company has a market capitalization of $16.24 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 2.01 and a beta of 0.90.

First Republic Bank (NYSE:FRC) last released its earnings results on Tuesday, July 16th. The bank reported $1.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.02). First Republic Bank had a return on equity of 11.30% and a net margin of 22.94%. The firm had revenue of $819.38 million during the quarter, compared to the consensus estimate of $836.26 million. During the same quarter last year, the business posted $1.20 EPS. Research analysts anticipate that First Republic Bank will post 5.02 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, July 25th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.78%. The ex-dividend date is Wednesday, July 24th. First Republic Bank’s dividend payout ratio (DPR) is 15.80%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of First Republic Bank in the 4th quarter valued at approximately $103,154,000. Swedbank bought a new position in shares of First Republic Bank in the second quarter worth $101,370,000. Geode Capital Management LLC grew its stake in shares of First Republic Bank by 57.4% in the fourth quarter. Geode Capital Management LLC now owns 2,097,305 shares of the bank’s stock worth $181,934,000 after purchasing an additional 764,661 shares in the last quarter. Northern Trust Corp grew its stake in shares of First Republic Bank by 42.1% in the first quarter. Northern Trust Corp now owns 1,720,178 shares of the bank’s stock worth $172,810,000 after purchasing an additional 509,672 shares in the last quarter. Finally, Commerce Bank lifted its holdings in shares of First Republic Bank by 485.6% in the first quarter. Commerce Bank now owns 273,719 shares of the bank’s stock valued at $27,498,000 after buying an additional 226,981 shares during the period.

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 in 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, passbook deposits, and individual retirement accounts, as well as certificates of deposit.

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Analyst Recommendations for First Republic Bank (NYSE:FRC)

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