A number of research firms have commented on FRC. Piper Jaffray Companies reiterated a "hold" rating and issued a $99.00 target price on shares of FIRST REPUBLIC BANK in a research note on Friday. Royal Bank Of Canada reiterated a "hold" rating and set a $98.00 price target on shares of FIRST REPUBLIC BANK in a research note on Friday, July 7th.
Several equities analysts have weighed in on FRC shares. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. The stock has an average rating of "Hold" and an average price target of $104.54. Barclays PLC reiterated an "equal weight" rating and issued a $110.00 price target (up from $101.00) on shares of First Republic Bank in a research note on Wednesday. 131,989 shares of the company's stock traded hands. The company has market cap of $1.09 billion. FIRST REPUBLIC BANK has a 52 week low of $65.99 and a 52 week high of $103.69. The firm's 50-day moving average is $96.01 and its 200-day moving average is $93.89.
First Republic Bank (FRC) reported earnings for its second quarter that advanced compared to the same period previous year.
Analysts had expected the company to earn $1.09 per share, according figures compiled by Thomson Reuters.
The broker said it expects First Republic to unveil a $300 million common equity raise in early 2018 to maintain its CET1 ratio at over 10%. The business had revenue of $641.30 million during the quarter, compared to the consensus estimate of $671.27 million. Parallel Advisors LLC now owns 1,085 shares of the bank's stock valued at $101,000 after buying an additional 936 shares in the last quarter. Shareholders of record on Thursday, July 27th will be given a dividend of 0.17 per share by the bank on Thursday, August 10th. This represents a $0.68 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Tuesday, July 25th. FIRST REPUBLIC BANK has a payout ratio of 15.1% meaning its dividend is sufficiently covered by earnings.
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Hedge funds have recently modified their holdings of the company. Teza Capital Management LLC purchased a new stake in FIRST REPUBLIC BANK during the first quarter worth approximately $549,000. Finally, C WorldWide Group Holding A S increased its position in FIRST REPUBLIC BANK by 12.0% in the first quarter. Boston Family Office LLC now owns 123,922 shares of the bank's stock worth $11,625,000 after buying an additional 652 shares in the last quarter. Finally, Toronto Dominion Bank increased its position in shares of FIRST REPUBLIC BANK by 49.7% in the first quarter. The Private Trust Co holds 8,844 shares with $814,000 value, down from 13,259 last quarter. JPMorgan Chase & Co. increased its position in FIRST REPUBLIC BANK by 26.2% in the first quarter. Parallel Advisors LLC raised its position in FIRST REPUBLIC BANK by 628.2% in the first quarter. BlackRock Inc. now owns 9,831,999 shares of the bank's stock valued at $922,340,000 after buying an additional 9,605,945 shares in the last quarter.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Republic Bank San Fran now has $15.90B valuation. 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.