The First Republic Bank (FRC) Price Target Raised to $85.00 at Deutsche Bank AG

The First Republic Bank (FRC) Price Target Raised to $85.00 at Deutsche Bank AG

First Republic Bank (NYSE:FRC) had its price objective hoisted by Deutsche Bank AG from $83.00 to $85.00 in a research report sent to investors on Tuesday morning. The brokerage currently has a hold rating on the stock.

A number of other equities analysts have also weighed in on FRC. FBR & Co reiterated a hold rating on shares of First Republic Bank in a research report on Sunday, July 17th. Keefe, Bruyette & Woods reiterated a hold rating on shares of First Republic Bank in a research report on Sunday, July 17th. JPMorgan Chase & Co. reiterated a buy rating on shares of First Republic Bank in a research report on Sunday, July 17th. BMO Capital Markets reiterated a market perform rating and set a $71.00 price target on shares of First Republic Bank in a research report on Friday, July 15th. Finally, Zacks Investment Research upgraded shares of First Republic Bank from a hold rating to a buy rating and set a $80.00 price objective on the stock in a research report on Tuesday, July 19th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of $76.46.

First Republic Bank (NYSE:FRC) traded up 0.08% during midday trading on Tuesday, hitting $77.59. 250,895 shares of the stock were exchanged. The stock has a market cap of $11.63 billion, a P/E ratio of 21.78 and a beta of 1.06. First Republic Bank has a one year low of $56.32 and a one year high of $79.15. The firm has a 50-day moving average price of $76.56 and a 200-day moving average price of $71.59.

First Republic Bank (NYSE:FRC) last posted its quarterly earnings data on Thursday, July 14th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. First Republic Bank had a net margin of 27.20% and a return on equity of 12.59%. The firm had revenue of $535.10 million for the quarter, compared to analyst estimates of $568.53 million. During the same period last year, the firm posted $0.73 EPS. On average, equities research analysts anticipate that First Republic Bank will post $3.91 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of First Republic Bank by 4.8% in the second quarter. Vanguard Group Inc. now owns 10,719,022 shares of the company’s stock valued at $750,225,000 after buying an additional 493,190 shares during the last quarter. State Street Corp increased its position in shares of First Republic Bank by 1.2% in the second quarter. State Street Corp now owns 3,844,088 shares of the company’s stock valued at $269,054,000 after buying an additional 45,136 shares during the last quarter. Aristotle Capital Management LLC increased its position in shares of First Republic Bank by 1.3% in the second quarter. Aristotle Capital Management LLC now owns 3,247,093 shares of the company’s stock valued at $227,264,000 after buying an additional 42,483 shares during the last quarter. Royal Bank of Canada increased its position in shares of First Republic Bank by 66.9% in the second quarter. Royal Bank of Canada now owns 2,320,272 shares of the company’s stock valued at $162,397,000 after buying an additional 929,702 shares during the last quarter. Finally, CAM Group Holding A S increased its position in shares of First Republic Bank by 2.5% in the second quarter. CAM Group Holding A S now owns 2,008,028 shares of the company’s stock valued at $140,542,000 after buying an additional 49,558 shares during the last quarter. 98.24% of the stock is owned by hedge funds and other institutional investors.

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