First Republic Bank (NYSE:FRC) has received a consensus recommendation of “Hold” from the eighteen brokerages that are currently covering the firm, MarketBeat reports. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $102.46.
FRC has been the subject of a number of analyst reports. ValuEngine raised shares of First Republic Bank from a “hold” rating to a “buy” rating in a research note on Wednesday, January 16th. Stephens raised shares of First Republic Bank from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 20th. Robert W. Baird initiated coverage on shares of First Republic Bank in a research note on Thursday, December 20th. They set a “neutral” rating and a $92.00 target price for the company. Wells Fargo & Co raised shares of First Republic Bank from a “market perform” rating to an “outperform” rating and set a $87.50 target price for the company in a research note on Wednesday, January 2nd. Finally, Bank of America reissued a “neutral” rating and set a $104.00 target price (up previously from $98.00) on shares of First Republic Bank in a research note on Tuesday, February 5th.
Shares of FRC stock traded up $0.64 during trading hours on Friday, hitting $103.56. 1,444,319 shares of the company’s stock traded hands, compared to its average volume of 1,532,052. The company has a market capitalization of $16.34 billion, a P/E ratio of 21.53, a PEG ratio of 1.55 and a beta of 0.93. First Republic Bank has a 12 month low of $79.42 and a 12 month high of $106.75. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.99 and a current ratio of 0.99.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pearl River Capital LLC acquired a new stake in First Republic Bank in the fourth quarter worth $26,000. Portfolio Solutions LLC acquired a new stake in First Republic Bank in the fourth quarter worth $43,000. Ipswich Investment Management Co. Inc. acquired a new stake in First Republic Bank in the fourth quarter worth $45,000. Captrust Financial Advisors grew its holdings in First Republic Bank by 199.4% in the fourth quarter. Captrust Financial Advisors now owns 521 shares of the bank’s stock worth $45,000 after purchasing an additional 347 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in First Republic Bank by 42.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 726 shares of the bank’s stock worth $63,000 after purchasing an additional 218 shares during the period.
About First Republic Bank
First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers 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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