First Republic Bank (NYSE:FRC – Get Rating) had its price objective trimmed by Piper Sandler to $145.00 in a research report report published on Friday morning, Stock Target Advisor reports.
Other research analysts also recently issued reports about the stock. Compass Point set a $175.00 price objective on shares of First Republic Bank in a research note on Tuesday, July 19th. Maxim Group reiterated a buy rating and set a $250.00 price objective on shares of First Republic Bank in a research note on Friday, July 15th. Barclays reduced their price objective on shares of First Republic Bank from $223.00 to $198.00 and set an equal weight rating on the stock in a research note on Friday, July 15th. JPMorgan Chase & Co. reduced their price objective on shares of First Republic Bank from $215.00 to $200.00 and set an overweight rating on the stock in a research note on Friday, July 1st. Finally, TheStreet upgraded shares of First Republic Bank from a c+ rating to a b rating in a research report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, First Republic Bank currently has an average rating of Hold and an average target price of $185.00.
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First Republic Bank Price Performance
Shares of FRC stock opened at $130.55 on Friday. The company has a market capitalization of $23.45 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.80 and a beta of 1.12. The firm has a fifty day simple moving average of $153.70 and a 200-day simple moving average of $153.15. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. First Republic Bank has a twelve month low of $130.35 and a twelve month high of $222.86.
First Republic Bank (NYSE:FRC – Get Rating) last posted its quarterly earnings data on Thursday, July 14th. The bank reported $2.16 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.11. First Republic Bank had a net
margin of 27.65% and a return on equity of 12.96%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm posted $1.95 EPS. The firm's revenue was up 22.6% compared to the same quarter last year. Equities research analysts anticipate that First Republic Bank will post 8.6 earnings per share for the current fiscal year.
First Republic Bank Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Thursday, July 28th were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, July 27th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.83%. First Republic Bank's dividend payout ratio (DPR) is presently 13.35%.
Institutional Trading of First Republic Bank
Large investors have recently modified their holdings of the company. Sargent Bickham Lagudis LLC acquired a new stake in shares of First Republic Bank in the 2nd quarter worth about $25,000. Spire Wealth Management increased its stake in First Republic Bank by 2,530.0% during the 2nd quarter. Spire Wealth Management now owns 263 shares of the bank's stock valued at $38,000 after buying an additional 253 shares during the period. Quent Capital LLC acquired a new position in First Republic Bank during the 4th quarter valued at about $45,000. Tcwp LLC acquired a new position in First Republic Bank during the 1st quarter valued at about $45,000. Finally, Ellevest Inc. increased its stake in First Republic Bank by 84.3% during the 1st quarter. Ellevest Inc. now owns 306 shares of the bank's stock valued at $50,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 95.17% of the company's stock.
About First Republic Bank
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First Republic Bank, together with its subsidiaries, provides private banking, private business banking, and private wealth management services to clients in metropolitan areas in the United States. It operates in two segments, Commercial Banking and Wealth Management. The company accepts deposit products, such as noninterest-bearing checking, interest-bearing checking, money market checking accounts, money market savings accounts, and passbook accounts, as well as certificates of deposit.
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