BMO Capital Markets Trims First Republic Bank (FRC) Target Price to $106.00

First Republic Bank (NYSE:FRC) had its target price decreased by equities researchers at BMO Capital Markets from $111.00 to $106.00 in a note issued to investors on Monday, BenzingaRatingsTable reports. The brokerage presently has a “market perform” rating on the bank’s stock. BMO Capital Markets’ target price indicates a potential upside of 2.91% from the stock’s current price.

Several other brokerages have also recently commented on FRC. Atlantic Securities cut First Republic Bank from an “overweight” rating to a “neutral” rating and set a $104.98 target price on the stock. in a report on Friday, March 1st. Wells Fargo & Co increased their target price on First Republic Bank from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. Maxim Group reiterated a “buy” rating and issued a $115.00 price target (up previously from $110.00) on shares of First Republic Bank in a report on Friday, April 12th. ValuEngine cut First Republic Bank from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, Stephens reiterated a “buy” rating and issued a $115.00 price target on shares of First Republic Bank in a report on Thursday, March 21st. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $104.54.

Shares of FRC stock opened at $103.00 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.19. The firm has a market cap of $16.06 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.55 and a beta of 0.92. First Republic Bank has a 52 week low of $79.42 and a 52 week high of $106.75.

First Republic Bank (NYSE:FRC) last announced its earnings results on Friday, April 12th. The bank reported $1.26 EPS for the quarter, topping the consensus estimate of $1.22 by $0.04. The company had revenue of $807.36 million for the quarter, compared to analysts’ expectations of $813.99 million. First Republic Bank had a return on equity of 11.56% and a net margin of 23.61%. During the same quarter in the prior year, the business earned $1.13 earnings per share. As a group, equities analysts predict that First Republic Bank will post 5.32 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its holdings in First Republic Bank by 4.8% in the first quarter. Louisiana State Employees Retirement System now owns 8,700 shares of the bank’s stock valued at $874,000 after acquiring an additional 400 shares during the last quarter. First Manhattan Co. boosted its holdings in First Republic Bank by 3,925.0% in the first quarter. First Manhattan Co. now owns 805 shares of the bank’s stock valued at $80,000 after acquiring an additional 785 shares during the last quarter. CAPROCK Group Inc. bought a new position in First Republic Bank in the first quarter valued at about $227,000. Calamos Advisors LLC boosted its holdings in First Republic Bank by 6.1% in the first quarter. Calamos Advisors LLC now owns 128,390 shares of the bank’s stock valued at $12,898,000 after acquiring an additional 7,340 shares during the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd bought a new position in First Republic Bank in the first quarter valued at about $392,000.

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 in 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, passbook deposits, and individual retirement accounts, as well as certificates of deposit.

Recommended Story: What is a resistance level?

Analyst Recommendations for First Republic Bank (NYSE:FRC)

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.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit