First Republic Bank (FRC) Rating Reiterated by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their hold rating on shares of First Republic Bank (NYSE:FRC) in a report issued on Wednesday.

Several other brokerages have also issued reports on FRC. Barclays lowered First Republic Bank from an overweight rating to an equal weight rating and dropped their price objective for the stock from $108.00 to $104.00 in a report on Tuesday, October 10th. Royal Bank of Canada reaffirmed a hold rating on shares of First Republic Bank in a report on Friday, September 29th. Jefferies Group raised their price objective on First Republic Bank from $109.00 to $120.00 and gave the stock a buy rating in a report on Friday, September 29th. Zacks Investment Research lowered First Republic Bank from a hold rating to a sell rating in a report on Tuesday, October 17th. Finally, Raymond James Financial dropped their price objective on First Republic Bank from $108.00 to $105.00 and set an outperform rating on the stock in a report on Monday, October 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. First Republic Bank has an average rating of Hold and a consensus target price of $102.21.

First Republic Bank (NYSE FRC) traded up $3.96 during trading on Wednesday, reaching $89.93. The company’s stock had a trading volume of 2,465,355 shares, compared to its average volume of 1,342,300. First Republic Bank has a one year low of $84.56 and a one year high of $105.52. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $14,187.09, a PE ratio of 20.87, a PEG ratio of 1.45 and a beta of 0.96.

First Republic Bank (NYSE:FRC) last posted its quarterly earnings results on Tuesday, January 16th. The bank reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.05). First Republic Bank had a net margin of 26.02% and a return on equity of 11.80%. The business had revenue of $699.20 million during the quarter, compared to analyst estimates of $688.48 million. During the same quarter in the prior year, the business earned $1.03 earnings per share. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. analysts anticipate that First Republic Bank will post 4.83 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Thursday, January 25th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Wednesday, January 24th. First Republic Bank’s dividend payout ratio is currently 15.78%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zions Bancorporation purchased a new position in shares of First Republic Bank during the third quarter worth about $160,000. Mawer Investment Management Ltd. purchased a new position in shares of First Republic Bank during the third quarter worth about $209,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of First Republic Bank during the third quarter worth about $209,000. Brookmont Capital Management purchased a new position in shares of First Republic Bank during the third quarter worth about $210,000. Finally, Toronto Dominion Bank grew its holdings in shares of First Republic Bank by 8.9% during the second quarter. Toronto Dominion Bank now owns 2,117 shares of the bank’s stock worth $212,000 after buying an additional 173 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

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About First Republic Bank

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.

Analyst Recommendations for First Republic Bank (NYSE:FRC)

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