First Republic Bank (FRC) Sets New 12-Month Low at $86.50

First Republic Bank (NYSE:FRC) shares reached a new 52-week low on Wednesday . The stock traded as low as $86.50 and last traded at $86.83, with a volume of 625700 shares traded. The stock had previously closed at $87.20.

Several research firms have recently weighed in on FRC. Piper Jaffray Companies set a $99.00 price objective on First Republic Bank and gave the stock a “hold” rating in a research report on Sunday, October 15th. Jefferies Group lifted their price objective on First Republic Bank from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. Barclays lowered First Republic Bank from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $108.00 to $104.00 in a research report on Tuesday, October 10th. Wells Fargo & Co lowered their price objective on First Republic Bank from $100.00 to $95.00 and set a “market perform” rating for the company in a research report on Monday, October 16th. Finally, BMO Capital Markets lowered their price objective on First Republic Bank from $96.00 to $92.00 and set a “market perform” rating for the company in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $103.07.

The company has a market capitalization of $13,620.00, a PE ratio of 20.56, a P/E/G ratio of 1.60 and a beta of 0.96. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55.

First Republic Bank (NYSE:FRC) last issued its earnings results on Friday, October 13th. The bank reported $1.14 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $670.30 million during the quarter, compared to the consensus estimate of $678.25 million. During the same period in the previous year, the firm earned $1.00 earnings per share. The business’s quarterly revenue was up 20.1% on a year-over-year basis. research analysts anticipate that First Republic Bank will post 4.44 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of FRC. Zions Bancorporation bought a new stake in First Republic Bank in the 3rd quarter valued at about $160,000. Bronfman E.L. Rothschild L.P. increased its position in First Republic Bank by 0.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock valued at $195,000 after buying an additional 5 shares in the last quarter. Mawer Investment Management Ltd. bought a new stake in First Republic Bank in the 3rd quarter valued at about $209,000. Cambridge Investment Research Advisors Inc. bought a new stake in First Republic Bank in the 3rd quarter valued at about $209,000. Finally, Brookmont Capital Management bought a new stake in First Republic Bank in the 3rd quarter valued at about $210,000. 98.75% of the stock is owned by institutional investors and hedge funds.

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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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