First Republic Bank (NYSE:FRC) Downgraded to “Hold” at Raymond James

Raymond James lowered shares of First Republic Bank (NYSE:FRC) to a hold rating in a research report report published on Monday morning, Stock Target Advisor reports.

Several other equities research analysts have also weighed in on FRC. BMO Capital Markets boosted their target price on Citigroup from $92.00 to $93.00 and gave the stock an outperform rating in a report on Monday, April 15th. Zacks Investment Research upgraded SCHNEIDER ELEC /ADR from a hold rating to a buy rating and set a $20.00 target price for the company in a report on Friday, July 5th. Credit Suisse Group began coverage on First Republic Bank in a report on Friday, June 14th. They set a neutral rating and a $105.00 price target for the company. Maxim Group set a $45.00 price target on ABM Industries and gave the stock a buy rating in a report on Friday, April 12th. Finally, Stephens reiterated a hold rating and set a $33.00 price target on shares of Bancorpsouth Bank in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. First Republic Bank presently has a consensus rating of Hold and a consensus price target of $103.43.

FRC opened at $101.14 on Monday. The stock has a 50 day moving average of $97.96. First Republic Bank has a twelve month low of $79.42 and a twelve month high of $107.75. 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 $16.77 billion, a price-to-earnings ratio of 21.03, a P/E/G ratio of 1.69 and a beta of 0.90.

First Republic Bank (NYSE:FRC) last posted its earnings results on Friday, April 12th. The bank reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.04. First Republic Bank had a return on equity of 11.56% and a net margin of 23.61%. The firm had revenue of $807.36 million during the quarter, compared to analyst estimates of $813.99 million. During the same period in the previous year, the company earned $1.13 EPS. On average, research analysts expect that First Republic Bank will post 5.25 EPS for the current year.

Several hedge funds have recently modified their holdings of FRC. Norges Bank acquired a new position in shares of First Republic Bank during the fourth quarter worth approximately $103,154,000. Swedbank bought a new stake in shares of First Republic Bank during the second quarter valued at approximately $101,370,000. Geode Capital Management LLC increased its position in shares of First Republic Bank by 57.4% during the fourth quarter. Geode Capital Management LLC now owns 2,097,305 shares of the bank’s stock valued at $181,934,000 after purchasing an additional 764,661 shares during the period. Northern Trust Corp increased its position in shares of First Republic Bank by 42.1% during the first quarter. Northern Trust Corp now owns 1,720,178 shares of the bank’s stock valued at $172,810,000 after purchasing an additional 509,672 shares during the period. Finally, Baillie Gifford & Co. increased its position in shares of First Republic Bank by 7.9% during the fourth quarter. Baillie Gifford & Co. now owns 6,708,104 shares of the bank’s stock valued at $582,934,000 after purchasing an additional 491,194 shares during the period.

About First Republic Bank

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.

Further Reading: Put Option Volume

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