First Republic Bank (NYSE:FRC)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a report issued on Tuesday, Zacks.com reports. Wedbush also issued estimates for First Republic Bank’s Q3 2019 earnings at $1.19 EPS, Q4 2019 earnings at $1.19 EPS, FY2019 earnings at $4.88 EPS and FY2020 earnings at $5.30 EPS.
Several other research analysts also recently commented on the stock. BMO Capital Markets lifted their price target on shares of Citigroup from $92.00 to $93.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. ValuEngine downgraded shares of Zions Bancorporation NA from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Credit Suisse Group assumed coverage on shares of First Republic Bank in a research note on Friday, June 14th. They issued a “neutral” rating and a $105.00 target price on the stock. Zacks Investment Research raised shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Friday, July 5th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $110.00 target price on shares of First Republic Bank in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $103.08.
FRC stock opened at $94.76 on Tuesday. The stock has a market capitalization of $15.77 billion, a P/E ratio of 19.70, a PEG ratio of 1.89 and a beta of 0.89. First Republic Bank has a one year low of $79.42 and a one year high of $107.75. The business’s 50 day simple moving average is $97.78. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.01 and a quick ratio of 0.99.
First Republic Bank (NYSE:FRC) last posted its quarterly earnings results on Tuesday, July 16th. The bank reported $1.24 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.02). The business had revenue of $819.38 million for the quarter, compared to analysts’ expectations of $836.26 million. First Republic Bank had a return on equity of 11.30% and a net margin of 22.94%. During the same period last year, the business posted $1.20 earnings per share. As a group, equities analysts forecast that First Republic Bank will post 5.18 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of FRC. Destination Wealth Management purchased a new position in shares of First Republic Bank in the first quarter worth $32,000. Carroll Financial Associates Inc. increased its stake in shares of First Republic Bank by 112.6% in the first quarter. Carroll Financial Associates Inc. now owns 404 shares of the bank’s stock worth $40,000 after buying an additional 214 shares during the period. First Personal Financial Services increased its position in First Republic Bank by 61.5% during the 1st quarter. First Personal Financial Services now owns 507 shares of the bank’s stock valued at $51,000 after purchasing an additional 193 shares during the period. Clean Yield Group purchased a new position in First Republic Bank during the 1st quarter valued at $52,000. Finally, Hall Laurie J Trustee increased its position in First Republic Bank by 160.0% during the 1st quarter. Hall Laurie J Trustee now owns 650 shares of the bank’s stock valued at $65,000 after purchasing an additional 400 shares during the period.
About First Republic Bank
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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