First Republic Bank (FRC) – Investment Analysts’ Weekly Ratings Changes

First Republic Bank (NYSE: FRC) has recently received a number of price target changes and ratings updates:

  • 1/17/2023 – First Republic Bank had its price target lowered by analysts at Morgan Stanley from $102.00 to $97.00. They now have an “underweight” rating on the stock.
  • 1/17/2023 – First Republic Bank had its price target lowered by analysts at Maxim Group from $200.00 to $185.00.
  • 1/15/2023 – First Republic Bank had its price target raised by analysts at Raymond James from $142.00 to $150.00. They now have a “strong-buy” rating on the stock.
  • 1/9/2023 – First Republic Bank was upgraded by analysts at Jefferies Financial Group Inc. from a “hold” rating to a “buy” rating.
  • 1/5/2023 – First Republic Bank was upgraded by analysts at The Goldman Sachs Group, Inc. from a “neutral” rating to a “buy” rating. They now have a $142.00 price target on the stock.
  • 1/3/2023 – First Republic Bank had its price target raised by analysts at Barclays PLC from $136.00 to $162.00. They now have an “equal weight” rating on the stock.
  • 12/15/2022 – First Republic Bank was upgraded by analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating. They now have a $125.00 price target on the stock, up previously from $100.00.
  • 12/14/2022 – First Republic Bank had its price target raised by analysts at Sterne Agee CRT from $130.00 to $140.00. They now have an “overweight” rating on the stock.
  • 12/14/2022 – First Republic Bank had its price target raised by analysts at Stephens to $140.00.
  • 12/13/2022 – First Republic Bank had its price target lowered by analysts at JPMorgan Chase & Co. from $145.00 to $140.00. They now have an “overweight” rating on the stock.
  • 12/5/2022 – First Republic Bank was downgraded by analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating. They now have a $102.00 price target on the stock, down previously from $109.00.
  • 12/1/2022 – First Republic Bank had its price target lowered by analysts at Wolfe Research from $133.00 to $131.00.

First Republic Bank Trading Up 1.3 %

Shares of NYSE FRC traded up $1.78 during trading on Wednesday, reaching $137.72. The company had a trading volume of 1,183,526 shares, compared to its average volume of 1,759,431. The company’s fifty day moving average price is $124.05 and its 200-day moving average price is $136.26. First Republic Bank has a 12 month low of $106.86 and a 12 month high of $181.75. The stock has a market cap of $24.74 billion, a P/E ratio of 16.69, a PEG ratio of 8.41 and a beta of 1.07. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.62.

First Republic Bank (NYSE:FRCGet Rating) last released its quarterly earnings results on Friday, January 13th. The bank reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.08. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.45 billion. First Republic Bank had a return on equity of 12.66% and a net margin of 24.66%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.02 EPS. As a group, research analysts expect that First Republic Bank will post 6.28 earnings per share for the current year.

First Republic Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 9th. Stockholders of record on Thursday, January 26th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Wednesday, January 25th. First Republic Bank’s dividend payout ratio is 13.09%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lindbrook Capital LLC lifted its stake in shares of First Republic Bank by 63.2% in the 4th quarter. Lindbrook Capital LLC now owns 217 shares of the bank’s stock valued at $26,000 after purchasing an additional 84 shares during the period. Guardian Wealth Advisors LLC acquired a new position in First Republic Bank during the 3rd quarter worth approximately $29,000. Armstrong Advisory Group Inc. acquired a new position in First Republic Bank during the 4th quarter worth approximately $28,000. Spire Wealth Management raised its stake in First Republic Bank by 2,530.0% during the 2nd quarter. Spire Wealth Management now owns 263 shares of the bank’s stock worth $38,000 after buying an additional 253 shares during the period. Finally, Arlington Partners LLC raised its stake in First Republic Bank by 70.4% during the 4th quarter. Arlington Partners LLC now owns 322 shares of the bank’s stock worth $39,000 after buying an additional 133 shares during the period. 95.24% of the stock is owned by institutional investors and hedge funds.

First Republic Bank engages in the provision of private banking, business banking, real estate lending, and wealth management, including trust and custody services. It operates through the Commercial Banking and Wealth Management segments. The Commercial Banking segment represents most of the operations, including real estate secured lending, retail deposit gathering, private banking activities, mortgage sales and servicing, and managing capital, liquidity, and interest rate risk.

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