First Republic Bank (NYSE:FRC) Now Covered by Analysts at StockNews.com

Posted by on Jun 5th, 2023

StockNews.com initiated coverage on shares of First Republic Bank (NYSE:FRC – Get Rating) in a research report issued on Monday. The firm set a “sell” rating on the bank’s stock.

A number of other analysts have also issued reports on the stock. Citigroup began coverage on shares of First Republic Bank in a research report on Tuesday, April 25th. They set a “sell” rating on the stock. Compass Point downgraded First Republic Bank from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $168.00 to $130.00 in a research report on Monday, March 13th. Atlantic Securities downgraded First Republic Bank from an “overweight” rating to a “neutral” rating in a research report on Friday, March 17th. Maxim Group cut First Republic Bank from a “buy” rating to a “hold” rating in a report on Tuesday, April 25th. Finally, Stephens restated an “overweight” rating and issued a $140.00 target price on shares of First Republic Bank in a report on Tuesday, March 14th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $115.79.

First Republic Bank Stock Performance

Shares of FRC stock opened at $2.30 on Monday. First Republic Bank has a 1 year low of $2.30 and a 1 year high of $171.09. The stock has a market cap of $413.19 million, a PE ratio of 0.31 and a beta of 1.01. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.97 and a current ratio of 1.00. The stock has a fifty day moving average price of $26.73 and a 200 day moving average price of $91.24.

First Republic Bank (NYSE:FRC – Get Rating) last posted its quarterly earnings data on Monday, April 24th. The bank reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.51. First Republic Bank had a return on equity of 11.26% and a net margin of 20.45%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the company earned $2.00 earnings per share. The business’s revenue for the quarter was down 13.4% compared to the same quarter last year. Sell-side analysts forecast that First Republic Bank will post -0.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Republic Bank

Several large investors have recently bought and sold shares of the stock. Machina Capital S.A.S. acquired a new stake in First Republic Bank in the first quarter worth approximately $25,000. Lindbrook Capital LLC grew its holdings in First Republic Bank by 63.2% during the fourth quarter. Lindbrook Capital LLC now owns 217 shares of the bank’s stock worth $26,000 after acquiring an additional 84 shares during the period. TimeScale Financial Inc. raised its position in First Republic Bank by 3,124.1% in the first quarter. TimeScale Financial Inc. now owns 1,870 shares of the bank’s stock worth $26,000 after acquiring an additional 1,812 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new stake in First Republic Bank in the 4th quarter valued at about $28,000. Finally, Ruedi Wealth Management Inc. bought a new position in shares of First Republic Bank during the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 95.24% of the company’s stock.

First Republic Bank Company Profile

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First Republic offers banking for individuals and businesses, wealth management and more with a focus on tailored service and solutions. First Republic was founded in San Francisco in 1985 by James H. Herbert II with a single office and a small but dedicated staff. Years later, First Republic is one of the country’s largest banks, serving clients at more than 80 Preferred Banking Offices across the United States and through online banking services.

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Analyst Recommendations for First Republic Bank (NYSE:FRC)

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