First Republic Bank (NYSE:FRC) PT Raised to $125.00 at Citigroup

First Republic Bank (NYSE:FRC) had its price target raised by investment analysts at Citigroup from $121.00 to $125.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the bank’s stock. Citigroup‘s price target would suggest a potential upside of 3.52% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets lifted their price target on First Republic Bank from $97.00 to $103.00 and gave the company a “market perform” rating in a research report on Wednesday, October 16th. They noted that the move was a valuation call. Wells Fargo & Co cut First Republic Bank from an “equal weight” rating to an “underweight” rating and set a $100.00 price target on the stock. in a research report on Monday, January 6th. They noted that the move was a valuation call. Barclays cut First Republic Bank from an “overweight” rating to an “equal weight” rating and set a $126.00 price target on the stock. in a research report on Monday, January 6th. Stephens reiterated a “buy” rating and set a $105.00 price target on shares of First Republic Bank in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. lifted their price target on First Republic Bank from $118.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Two equities research analysts have 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 target price of $111.57.

FRC opened at $120.75 on Wednesday. First Republic Bank has a 12 month low of $87.43 and a 12 month high of $122.34. The stock has a market cap of $19.25 billion, a P/E ratio of 25.10, a P/E/G ratio of 2.80 and a beta of 0.91. The stock’s 50 day moving average price is $114.87 and its 200 day moving average price is $102.58. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.02 and a quick ratio of 1.02.

First Republic Bank (NYSE:FRC) last issued its quarterly earnings results on Tuesday, January 14th. The bank reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.12. First Republic Bank had a return on equity of 11.23% and a net margin of 22.69%. The company had revenue of $877.50 million for the quarter, compared to analysts’ expectations of $876.90 million. During the same period last year, the firm earned $1.29 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts anticipate that First Republic Bank will post 5.07 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of First Republic Bank by 2.5% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 6,406 shares of the bank’s stock worth $619,000 after acquiring an additional 156 shares in the last quarter. Pictet Asset Management Ltd. boosted its stake in shares of First Republic Bank by 0.8% during the 3rd quarter. Pictet Asset Management Ltd. now owns 303,587 shares of the bank’s stock worth $29,357,000 after acquiring an additional 2,361 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of First Republic Bank by 208.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 19,286 shares of the bank’s stock worth $1,865,000 after acquiring an additional 13,036 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of First Republic Bank by 527.2% during the 3rd quarter. SG Americas Securities LLC now owns 100,215 shares of the bank’s stock worth $9,691,000 after acquiring an additional 84,237 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of First Republic Bank by 2.5% during the 3rd quarter. State Street Corp now owns 9,563,764 shares of the bank’s stock worth $924,816,000 after acquiring an additional 233,424 shares in the last quarter.

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.

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Analyst Recommendations for First Republic Bank (NYSE:FRC)

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