Piper Jaffray Companies reiterated their hold rating on shares of First Republic Bank (NYSE:FRC) in a report published on Tuesday. Piper Jaffray Companies currently has a $94.00 price target on the bank’s stock. Piper Jaffray Companies also issued estimates for First Republic Bank’s Q4 2018 earnings at $1.19 EPS, FY2018 earnings at $4.71 EPS, Q1 2019 earnings at $1.18 EPS, Q2 2019 earnings at $1.33 EPS, Q3 2019 earnings at $1.47 EPS, Q4 2019 earnings at $1.49 EPS, FY2019 earnings at $5.47 EPS, Q1 2020 earnings at $1.39 EPS, Q2 2020 earnings at $1.53 EPS, Q3 2020 earnings at $1.67 EPS and FY2020 earnings at $6.27 EPS.
Several other equities research analysts have also commented on FRC. Wells Fargo & Co raised their price target on shares of First Republic Bank from $95.00 to $100.00 and gave the company a market perform rating in a research note on Tuesday, June 26th. Citigroup began coverage on shares of First Republic Bank in a research note on Monday, June 18th. They set a buy rating and a $120.00 price objective on the stock. BMO Capital Markets raised their price objective on shares of First Republic Bank from $96.00 to $102.00 and gave the company a market perform rating in a research note on Friday, July 13th. Wedbush reiterated an outperform rating on shares of First Republic Bank in a research note on Friday, July 13th. Finally, Jefferies Financial Group reiterated a hold rating and set a $96.00 price objective on shares of First Republic Bank in a research note on Monday, July 16th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $102.54.
Shares of NYSE:FRC opened at $93.12 on Tuesday. First Republic Bank has a 52 week low of $84.56 and a 52 week high of $106.75. The company has a market capitalization of $15.14 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.64 and a beta of 0.84. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59.
First Republic Bank (NYSE:FRC) last announced its quarterly earnings results on Friday, October 12th. The bank reported $1.19 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.01). First Republic Bank had a net margin of 24.80% and a return on equity of 11.73%. During the same quarter last year, the business posted $1.14 earnings per share. Sell-side analysts predict that First Republic Bank will post 4.78 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Thursday, October 25th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.77%. First Republic Bank’s dividend payout ratio is presently 16.71%.
Several hedge funds and other institutional investors have recently bought and sold shares of FRC. Picton Mahoney Asset Management grew its position in First Republic Bank by 1.2% in the second quarter. Picton Mahoney Asset Management now owns 42,500 shares of the bank’s stock worth $4,114,000 after buying an additional 500 shares during the last quarter. Blair William & Co. IL grew its position in First Republic Bank by 7.7% in the first quarter. Blair William & Co. IL now owns 7,166 shares of the bank’s stock worth $664,000 after buying an additional 510 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in First Republic Bank by 3.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 16,706 shares of the bank’s stock worth $1,617,000 after buying an additional 514 shares during the last quarter. Barings LLC grew its position in First Republic Bank by 2.9% in the second quarter. Barings LLC now owns 19,047 shares of the bank’s stock worth $1,844,000 after buying an additional 538 shares during the last quarter. Finally, LPL Financial LLC grew its position in First Republic Bank by 12.9% in the first quarter. LPL Financial LLC now owns 5,731 shares of the bank’s stock worth $531,000 after buying an additional 656 shares during 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 of 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, and passbook deposits, as well as certificates of deposit.
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