First Republic Bank (NYSE:FRC) Given New $157.00 Price Target at Wolfe Research

First Republic Bank (NYSE:FRCGet Rating) had its price target lowered by stock analysts at Wolfe Research from $194.00 to $157.00 in a research report issued on Thursday, The Fly reports. Wolfe Research’s price objective would indicate a potential upside of 5.36% from the company’s previous close.

A number of other brokerages also recently weighed in on FRC. Royal Bank of Canada raised their price objective on First Republic Bank from $184.00 to $187.00 and gave the company a “sector perform” rating in a research note on Thursday, April 14th. Credit Suisse Group raised First Republic Bank from an “underperform” rating to a “neutral” rating and set a $187.00 price objective on the stock in a research note on Tuesday, April 5th. Morgan Stanley raised their target price on First Republic Bank from $173.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, April 14th. StockNews.com began coverage on First Republic Bank in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group lowered their target price on First Republic Bank from $209.00 to $178.00 and set a “neutral” rating on the stock in a report on Monday, April 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $200.14.

FRC opened at $149.01 on Thursday. First Republic Bank has a fifty-two week low of $136.31 and a fifty-two week high of $222.86. The business has a 50-day moving average of $155.67 and a 200-day moving average of $178.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.92 and a quick ratio of 0.94. The company has a market capitalization of $26.77 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.40 and a beta of 1.11.

First Republic Bank (NYSE:FRCGet Rating) last issued its quarterly earnings data on Wednesday, April 13th. The bank reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.10. First Republic Bank had a return on equity of 12.91% and a net margin of 27.93%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the business earned $1.79 EPS. The firm’s revenue was up 27.3% compared to the same quarter last year. On average, equities research analysts expect that First Republic Bank will post 8.4 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in First Republic Bank by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 19,456,873 shares of the bank’s stock valued at $3,153,959,000 after buying an additional 373,312 shares in the last quarter. BlackRock Inc. boosted its stake in First Republic Bank by 11.2% in the 4th quarter. BlackRock Inc. now owns 13,704,016 shares of the bank’s stock valued at $2,830,016,000 after buying an additional 1,385,710 shares in the last quarter. State Street Corp boosted its stake in First Republic Bank by 5.5% in the 1st quarter. State Street Corp now owns 10,019,213 shares of the bank’s stock valued at $1,624,114,000 after buying an additional 522,813 shares in the last quarter. Royal Bank of Canada boosted its stake in First Republic Bank by 10.7% in the 1st quarter. Royal Bank of Canada now owns 5,655,897 shares of the bank’s stock valued at $916,823,000 after buying an additional 547,281 shares in the last quarter. Finally, Select Equity Group L.P. boosted its stake in First Republic Bank by 58.5% in the 1st quarter. Select Equity Group L.P. now owns 5,004,573 shares of the bank’s stock valued at $811,241,000 after buying an additional 1,847,488 shares in the last quarter. 94.41% of the stock is currently owned by institutional investors and hedge funds.

About First Republic Bank (Get Rating)

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 in two segments, Commercial Banking and Wealth Management. The company accepts deposit products, such as noninterest-bearing checking, interest-bearing checking, money market checking accounts, money market savings accounts, and passbook accounts, as well as certificates of deposit.

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