First Republic Bank (NYSE:FRC) had its price objective boosted by Royal Bank of Canada to $102.00 in a report released on Thursday, September 13th, The Fly reports. They currently have a sector perform rating on the bank’s stock. The analysts noted that the move was a valuation call.

Several other research firms have also weighed in on FRC. Wells Fargo & Co upped their price objective on First Republic Bank from $95.00 to $100.00 and gave the company a market perform rating in a research note on Tuesday, June 26th. Citigroup assumed coverage on First Republic Bank in a research note on Monday, June 18th. They issued a buy rating and a $120.00 price objective on the stock. BMO Capital Markets upped their price objective on First Republic Bank from $96.00 to $102.00 and gave the company a market perform rating in a research note on Friday, July 13th. Wedbush reissued an outperform rating on shares of First Republic Bank in a report on Friday, July 13th. Finally, Jefferies Financial Group reissued a hold rating and issued a $96.00 target price on shares of First Republic Bank in a report on Monday, July 16th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $102.92.

Shares of NYSE FRC traded down $1.62 during trading hours on Thursday, hitting $93.78. 1,351,271 shares of the company’s stock were exchanged, compared to its average volume of 1,183,650. First Republic Bank has a 1-year low of $84.56 and a 1-year high of $106.75. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $15.14 billion, a PE ratio of 21.76, a P/E/G ratio of 1.64 and a beta of 0.84.

First Republic Bank (NYSE:FRC) last issued its quarterly earnings results on Friday, July 13th. The bank reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.05. First Republic Bank had a return on equity of 11.73% and a net margin of 24.80%. The firm had revenue of $744.11 million for the quarter, compared to analyst estimates of $734.03 million. As a group, equities research analysts forecast that First Republic Bank will post 4.78 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Visionary Asset Management Inc. bought a new position in shares of First Republic Bank in the 2nd quarter valued at about $225,000. Gofen & Glossberg LLC IL acquired a new stake in First Republic Bank in the 2nd quarter valued at about $265,000. Brookmont Capital Management lifted its stake in First Republic Bank by 31.7% in the 2nd quarter. Brookmont Capital Management now owns 2,937 shares of the bank’s stock valued at $284,000 after purchasing an additional 707 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in First Republic Bank by 30.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,985 shares of the bank’s stock valued at $289,000 after purchasing an additional 699 shares during the last quarter. Finally, D.A. Davidson & CO. acquired a new stake in First Republic Bank in the 2nd quarter valued at about $297,000.

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 of 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, and passbook deposits, as well as certificates of deposit.

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The Fly

Analyst Recommendations for First Republic Bank (NYSE:FRC)

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