First Republic Bank (NYSE:FRC) Receives $108.77 Average Price Target from Brokerages

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First Republic Bank (NYSE:FRC) has received an average recommendation of “Hold” from the seventeen analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $108.77.

FRC has been the subject of a number of recent research reports. BMO Capital Markets boosted their target price on First Republic Bank from $97.00 to $103.00 and gave the company a “market perform” rating in a research note on Wednesday, October 16th. They noted that the move was a valuation call. Morgan Stanley boosted their target price on First Republic Bank from $100.00 to $108.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Citigroup lowered First Republic Bank from a “buy” rating to a “neutral” rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. boosted their target price on First Republic Bank from $118.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Barclays lowered First Republic Bank from an “overweight” rating to an “equal weight” rating and set a $126.00 price target for the company. in a research report on Monday, January 6th.

NYSE FRC opened at $115.45 on Friday. First Republic Bank has a 1-year low of $83.68 and a 1-year high of $118.43. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.43. The stock has a 50-day moving average of $114.64 and a 200-day moving average of $102.46. The firm has a market cap of $19.25 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 2.80 and a beta of 0.91.

First Republic Bank (NYSE:FRC) last released its earnings results on Tuesday, October 15th. The bank reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.10. First Republic Bank had a return on equity of 11.23% and a net margin of 22.69%. The company had revenue of $837.19 million during the quarter, compared to analyst estimates of $830.60 million. During the same quarter in the previous year, the company posted $1.19 EPS. As a group, equities research analysts forecast that First Republic Bank will post 5.07 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRC. Patten & Patten Inc. TN grew its stake in shares of First Republic Bank by 22.6% in the 4th quarter. Patten & Patten Inc. TN now owns 2,713 shares of the bank’s stock worth $319,000 after buying an additional 500 shares during the last quarter. DNB Asset Management AS grew its stake in shares of First Republic Bank by 5.6% in the 4th quarter. DNB Asset Management AS now owns 18,781 shares of the bank’s stock worth $2,206,000 after buying an additional 990 shares during the last quarter. Allred Capital Management LLC purchased a new stake in shares of First Republic Bank in the 4th quarter worth approximately $65,000. First Financial Bank Trust Division grew its stake in shares of First Republic Bank by 14.4% in the 4th quarter. First Financial Bank Trust Division now owns 68,511 shares of the bank’s stock worth $8,046,000 after buying an additional 8,627 shares during the last quarter. Finally, Evoke Wealth LLC purchased a new stake in shares of First Republic Bank in the 3rd quarter worth approximately $767,000.

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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Analyst Recommendations for First Republic Bank (NYSE:FRC)

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