Jefferies Group LLC reissued their buy rating on shares of First Republic Bank (NYSE:FRC) in a report released on Thursday, October 19th. Jefferies Group LLC currently has a $111.00 price objective on the bank’s stock. Jefferies Group also issued estimates for First Republic Bank’s Q4 2017 earnings at $1.12 EPS, FY2017 earnings at $4.34 EPS, Q1 2018 earnings at $1.08 EPS, Q2 2018 earnings at $1.16 EPS, Q3 2018 earnings at $1.25 EPS, Q4 2018 earnings at $1.31 EPS, FY2018 earnings at $4.80 EPS and FY2019 earnings at $5.40 EPS.
Several other brokerages also recently weighed in on FRC. Wedbush reissued an outperform rating and set a $121.00 price target on shares of First Republic Bank in a research report on Tuesday, June 27th. Zacks Investment Research cut shares of First Republic Bank from a hold rating to a sell rating in a research note on Monday, September 18th. BidaskClub upgraded shares of First Republic Bank from a hold rating to a buy rating in a research note on Saturday, July 1st. Barclays PLC restated an equal weight rating and set a $110.00 target price (up previously from $101.00) on shares of First Republic Bank in a research note on Wednesday, July 12th. Finally, Piper Jaffray Companies reiterated a hold rating and issued a $99.00 price target on shares of First Republic Bank in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $102.93.
First Republic Bank (NYSE FRC) traded down 0.27% during mid-day trading on Thursday, hitting $99.30. The stock had a trading volume of 919,519 shares. First Republic Bank has a one year low of $72.43 and a one year high of $105.52. The firm has a market capitalization of $15.68 billion, a price-to-earnings ratio of 23.42 and a beta of 1.01. The stock’s 50 day moving average price is $100.15 and its 200 day moving average price is $97.68.
First Republic Bank (NYSE:FRC) last posted its quarterly earnings results on Friday, October 13th. The bank reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). First Republic Bank had a net margin of 26.85% and a return on equity of 12.06%. The business had revenue of $670.30 million for the quarter, compared to analysts’ expectations of $678.25 million. During the same quarter in the previous year, the company earned $1.00 earnings per share. The business’s quarterly revenue was up 20.1% on a year-over-year basis. Analysts forecast that First Republic Bank will post $4.37 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 26th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.68%. The ex-dividend date is Wednesday, October 25th. First Republic Bank’s payout ratio is currently 16.04%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of First Republic Bank by 2.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 107,042 shares of the bank’s stock valued at $11,181,000 after purchasing an additional 2,851 shares during the period. Victory Capital Management Inc. lifted its stake in First Republic Bank by 657.2% in the third quarter. Victory Capital Management Inc. now owns 123,530 shares of the bank’s stock worth $12,904,000 after acquiring an additional 107,217 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in First Republic Bank in the third quarter worth approximately $388,000. Raymond James Financial Services Advisors Inc. lifted its stake in First Republic Bank by 8.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 15,020 shares of the bank’s stock worth $1,569,000 after acquiring an additional 1,151 shares during the last quarter. Finally, California Capital Advisors Inc. purchased a new position in First Republic Bank in the third quarter worth approximately $639,000. 97.55% of the stock is owned by institutional investors and hedge funds.
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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