First Republic Bank (FRC) Cut to Hold at Jefferies Group

First Republic Bank (NYSE:FRC) was downgraded by equities researchers at Jefferies Group from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Several other equities research analysts have also recently weighed in on the stock. Morgan Stanley restated an “equal weight” rating and issued a $106.00 price objective on shares of First Republic Bank in a research report on Thursday. Zacks Investment Research upgraded shares of First Republic Bank from a “sell” rating to a “hold” rating in a research report on Friday, December 8th. Barclays set a $102.00 price objective on shares of First Republic Bank and gave the company a “hold” rating in a research report on Monday, October 16th. Raymond James Financial lowered their price objective on shares of First Republic Bank from $108.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, October 16th. Finally, Wells Fargo & Company lowered their price objective on shares of First Republic Bank from $100.00 to $95.00 and set a “market perform” rating for the company in a research report on Monday, October 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. First Republic Bank has an average rating of “Hold” and a consensus price target of $103.07.

Shares of First Republic Bank (NYSE:FRC) opened at $88.54 on Friday. The stock has a market cap of $14,010.35, a PE ratio of 20.95, a P/E/G ratio of 1.64 and a beta of 0.96. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. First Republic Bank has a 1 year low of $87.91 and a 1 year high of $105.52.

First Republic Bank (NYSE:FRC) last announced its earnings results on Friday, October 13th. The bank reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The firm had revenue of $670.30 million for the quarter, compared to analyst estimates of $678.25 million. First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.00 EPS. analysts expect that First Republic Bank will post 4.41 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. Parallel Advisors LLC grew its position in shares of First Republic Bank by 21.4% during the 2nd quarter. Parallel Advisors LLC now owns 1,317 shares of the bank’s stock worth $132,000 after buying an additional 232 shares during the period. Zions Bancorporation acquired a new stake in shares of First Republic Bank during the 3rd quarter worth approximately $160,000. Peddock Capital Advisors LLC acquired a new stake in shares of First Republic Bank during the 2nd quarter worth approximately $180,000. Bronfman E.L. Rothschild L.P. grew its position in shares of First Republic Bank by 0.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock worth $195,000 after buying an additional 5 shares during the period. Finally, Mawer Investment Management Ltd. acquired a new stake in shares of First Republic Bank during the 3rd quarter worth approximately $209,000. Institutional investors own 99.14% of the company’s stock.

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First Republic Bank Company Profile

First Republic Bank is a commercial bank and trust company. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States.

Analyst Recommendations for First Republic Bank (NYSE:FRC)

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