Barclays Boosts First Republic Bank (NYSE:FRC) Price Target to $170.00

First Republic Bank (NYSE:FRC) had its price objective hoisted by Barclays from $165.00 to $170.00 in a research report report published on Wednesday, The Fly reports. They currently have an equal weight rating on the bank’s stock.

FRC has been the subject of several other reports. Compass Point reaffirmed a top pick rating on shares of First Republic Bank in a research note on Thursday, December 31st. Morgan Stanley upped their price target on First Republic Bank from $166.00 to $170.00 and gave the stock an equal weight rating in a research note on Wednesday, March 24th. Maxim Group lifted their price target on shares of First Republic Bank to $200.00 and gave the company a buy rating in a research report on Friday, January 15th. JPMorgan Chase & Co. raised their price objective on shares of First Republic Bank from $148.00 to $160.00 in a research note on Tuesday, December 15th. Finally, Credit Suisse Group boosted their target price on shares of First Republic Bank from $148.00 to $157.00 and gave the stock an underperform rating in a research report on Wednesday, March 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. First Republic Bank currently has a consensus rating of Hold and a consensus target price of $136.13.

FRC stock opened at $169.01 on Wednesday. The firm has a market cap of $29.10 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 3.26 and a beta of 1.06. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.58. The stock has a 50-day moving average price of $168.55 and a 200-day moving average price of $144.05. First Republic Bank has a 1-year low of $89.22 and a 1-year high of $180.35.

First Republic Bank (NYSE:FRC) last issued its quarterly earnings results on Wednesday, January 13th. The bank reported $1.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.08. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.04 billion. First Republic Bank had a return on equity of 10.96% and a net margin of 22.95%. The company’s revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.39 earnings per share. On average, analysts forecast that First Republic Bank will post 6.12 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 11th. Stockholders of record on Thursday, January 28th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Wednesday, January 27th. First Republic Bank’s dividend payout ratio (DPR) is currently 13.77%.

Institutional investors have recently added to or reduced their stakes in the stock. Trust Co. of Vermont lifted its position in shares of First Republic Bank by 82.1% during the fourth quarter. Trust Co. of Vermont now owns 173 shares of the bank’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. Montag A & Associates Inc. purchased a new stake in shares of First Republic Bank in the fourth quarter worth about $29,000. CX Institutional boosted its position in shares of First Republic Bank by 95.4% in the fourth quarter. CX Institutional now owns 211 shares of the bank’s stock valued at $31,000 after acquiring an additional 103 shares during the period. Regent Peak Wealth Advisors LLC purchased a new position in First Republic Bank during the fourth quarter valued at approximately $42,000. Finally, Perennial Advisors LLC bought a new stake in First Republic Bank during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

First Republic Bank Company Profile

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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The Fly

Analyst Recommendations for First Republic Bank (NYSE:FRC)

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