Focus Financial Partners (NASDAQ:FOCS) PT Set at $26.00 by SunTrust Banks

Focus Financial Partners (NASDAQ:FOCS) has been given a $26.00 price target by equities researchers at SunTrust Banks in a note issued to investors on Friday, TipRanks reports. The brokerage presently has a “hold” rating on the stock. SunTrust Banks’ target price indicates a potential upside of 14.29% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Zacks Investment Research cut Focus Financial Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Bank of America decreased their price target on Focus Financial Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Keefe, Bruyette & Woods raised Focus Financial Partners from a “market perform” rating to an “outperform” rating and increased their price target for the company from $35.00 to $35.50 in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Focus Financial Partners has a consensus rating of “Hold” and a consensus price target of $36.79.

Shares of Focus Financial Partners stock traded down $1.37 on Friday, reaching $22.75. 209,643 shares of the company were exchanged, compared to its average volume of 220,615. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a 50-day moving average price of $27.75. The stock has a market capitalization of $1.65 billion and a price-to-earnings ratio of 22.98. Focus Financial Partners has a 1-year low of $22.61 and a 1-year high of $49.51.

Focus Financial Partners (NASDAQ:FOCS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.06. Focus Financial Partners had a positive return on equity of 13.21% and a negative net margin of 2.10%. The business had revenue of $301.55 million for the quarter, compared to analysts’ expectations of $292.29 million. During the same period in the prior year, the firm earned $0.40 EPS. The business’s quarterly revenue was up 30.3% on a year-over-year basis. Research analysts forecast that Focus Financial Partners will post 1.96 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its stake in shares of Focus Financial Partners by 2.7% during the 4th quarter. Macquarie Group Ltd. now owns 17,381 shares of the company’s stock worth $458,000 after acquiring an additional 452 shares in the last quarter. Quantamental Technologies LLC boosted its stake in shares of Focus Financial Partners by 225.0% during the 2nd quarter. Quantamental Technologies LLC now owns 1,300 shares of the company’s stock worth $36,000 after acquiring an additional 900 shares in the last quarter. Kavar Capital Partners LLC bought a new stake in shares of Focus Financial Partners during the 2nd quarter worth $27,000. Northern Trust Corp boosted its stake in shares of Focus Financial Partners by 0.5% during the 4th quarter. Northern Trust Corp now owns 233,703 shares of the company’s stock worth $6,154,000 after acquiring an additional 1,181 shares in the last quarter. Finally, Carnick & Kubik Group LLC boosted its stake in shares of Focus Financial Partners by 10.0% during the 2nd quarter. Carnick & Kubik Group LLC now owns 14,358 shares of the company’s stock worth $392,000 after acquiring an additional 1,300 shares in the last quarter. 79.75% of the stock is owned by institutional investors and hedge funds.

About Focus Financial Partners

Focus Financial Partners Inc provides wealth management services to primarily high net worth individuals and families. Its wealth management services include investment advice, financial and tax planning, consulting, tax return preparation, family office services, and other services. The company also offers recordkeeping and administration services.

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