A number of other brokerages also recently commented on FRC. Barclays downgraded shares of First Republic Bank from an overweight rating to an equal weight rating and reduced their target price for the stock from $108.00 to $104.00 in a research note on Tuesday, October 10th. Jefferies Group lifted their price target on shares of First Republic Bank from $109.00 to $120.00 and gave the company a buy rating in a research report on Friday, September 29th. Zacks Investment Research cut shares of First Republic Bank from a hold rating to a sell rating in a research report on Tuesday, October 17th. Raymond James Financial dropped their price target on shares of First Republic Bank from $108.00 to $105.00 and set an outperform rating for the company in a research report on Monday, October 16th. Finally, Wells Fargo & Co dropped their price target on shares of 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. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $102.21.
Shares of First Republic Bank (NYSE FRC) traded down $2.43 during mid-day trading on Wednesday, reaching $85.97. 1,709,542 shares of the company’s stock were exchanged, compared to its average volume of 1,680,000. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.55. First Republic Bank has a one year low of $84.56 and a one year high of $105.52. The stock has a market capitalization of $13,520.00, a P/E ratio of 19.95, a PEG ratio of 1.37 and a beta of 0.96.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 8th. Shareholders of record on Thursday, January 25th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Wednesday, January 24th. First Republic Bank’s dividend payout ratio is presently 15.78%.
Several institutional investors and hedge funds have recently made changes to their positions in FRC. Zions Bancorporation acquired a new position in shares of First Republic Bank in the third quarter valued at approximately $160,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of First Republic Bank in the third quarter valued at approximately $209,000. Mawer Investment Management Ltd. acquired a new position in shares of First Republic Bank in the third quarter valued at approximately $209,000. Brookmont Capital Management acquired a new position in shares of First Republic Bank in the third quarter valued at approximately $210,000. Finally, Toronto Dominion Bank grew its holdings in shares of First Republic Bank by 8.9% in the second quarter. Toronto Dominion Bank now owns 2,117 shares of the bank’s stock valued at $212,000 after purchasing an additional 173 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “First Republic Bank’s (FRC) Hold Rating Reiterated at Royal Bank of Canada” was first reported by Community Financial News and is the property of of Community Financial News. If you are accessing this piece of content on another domain, it was stolen and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.com-unik.info/2018/01/18/first-republic-banks-frc-hold-rating-reiterated-at-royal-bank-of-canada.html.
First Republic Bank Company Profile
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.
Receive News & Ratings for First Republic Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Republic Bank and related companies with MarketBeat.com's FREE daily email newsletter.