First Republic Bank (NYSE:FRC) Price Target Raised to $180.00 at Morgan Stanley

First Republic Bank (NYSE:FRC) had its price target raised by Morgan Stanley from $175.00 to $180.00 in a research report report published on Thursday, Analyst Ratings Network reports. The brokerage currently has an equal weight rating on the bank’s stock.

Other equities analysts have also issued research reports about the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on shares of First Republic Bank from $163.00 to $174.00 and gave the stock a neutral rating in a research report on Wednesday, April 14th. Citigroup upped their price target on shares of First Republic Bank from $163.00 to $174.00 in a research report on Wednesday, April 14th. JPMorgan Chase & Co. upped their price target on shares of First Republic Bank from $210.00 to $225.00 and gave the stock an overweight rating in a research report on Wednesday, June 2nd. Jefferies Financial Group restated an underperform rating and set a $163.00 price target on shares of First Republic Bank in a research report on Thursday, April 15th. Finally, Zacks Investment Research lowered shares of First Republic Bank from a buy rating to a hold rating and set a $206.00 target price for the company. in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $163.94.

Shares of NYSE:FRC opened at $191.93 on Thursday. The firm has a market capitalization of $33.05 billion, a PE ratio of 29.99, a price-to-earnings-growth ratio of 1.76 and a beta of 1.11. First Republic Bank has a 1-year low of $100.38 and a 1-year high of $197.38. The business’s fifty day simple moving average is $183.40. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.14.

First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Tuesday, April 13th. The bank reported $1.79 EPS for the quarter, topping the consensus estimate of $1.54 by $0.25. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. First Republic Bank had a net margin of 25.63% and a return on equity of 11.76%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 earnings per share. On average, sell-side analysts predict that First Republic Bank will post 7.05 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 13th. Stockholders of record on Thursday, April 29th were given a dividend of $0.22 per share. This is a positive change from First Republic Bank’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, April 28th. This represents a $0.88 annualized dividend and a dividend yield of 0.46%. First Republic Bank’s dividend payout ratio (DPR) is 15.15%.

Large investors have recently bought and sold shares of the company. Aperio Group LLC boosted its position in shares of First Republic Bank by 1.4% during the 4th quarter. Aperio Group LLC now owns 78,636 shares of the bank’s stock valued at $11,554,000 after purchasing an additional 1,072 shares in the last quarter. DE Burlo Group Inc. bought a new position in shares of First Republic Bank during the 1st quarter valued at about $10,822,000. Barometer Capital Management Inc. boosted its position in shares of First Republic Bank by 69.0% during the 1st quarter. Barometer Capital Management Inc. now owns 60,520 shares of the bank’s stock valued at $10,080,000 after purchasing an additional 24,700 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of First Republic Bank during the 1st quarter valued at about $4,960,000. Finally, Aptus Capital Advisors LLC lifted its stake in First Republic Bank by 45.4% during the first quarter. Aptus Capital Advisors LLC now owns 12,049 shares of the bank’s stock valued at $2,009,000 after buying an additional 3,763 shares in the last quarter. Institutional investors own 97.11% of the company’s stock.

About First Republic Bank

First Republic Bank, together with its subsidiaries, provides private banking, private business banking, and private wealth management services to clients in metropolitan areas in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company accepts 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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