First Republic Bank (FRC) Earns Hold Rating from Royal Bank Of Canada

09 Juillet, 2017, 02:51 | Author: Marc Bacque

Press coverage about FIRST REPUBLIC BANK (NYSE:FRC) has been trending somewhat positive recently, according to Accern. DnB Asset Management AS now owns 13,200 shares of the bank's stock worth $1,321,000 after buying an additional 1,000 shares during the last quarter. Nomura Asset Management Co. FIRST REPUBLIC BANK earned a media sentiment score of 0.07 on Accern's scale. Bank of Nova Scotia acquired a new stake in FIRST REPUBLIC BANK during the first quarter worth approximately $483,000. KAMES CAPITAL plc boosted its stake in shares of First Republic Bank by 0.5% in the second quarter. Xact Kapitalforvaltning AB now owns 19,486 shares of the bank's stock valued at $1,951,000 after buying an additional 65 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of First Republic Bank by 13.2% in the second quarter. KAMES CAPITAL plc now owns 977,453 shares of the bank's stock worth $97,823,000 after buying an additional 5,221 shares during the last quarter. Cambridge Trust Co. boosted its stake in shares of First Republic Bank by 31.2% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,466 shares of the bank's stock valued at $419,000 after buying an additional 766 shares during the last quarter. Institutional investors own 98.62% of the company's stock.

FIRST REPUBLIC BANK (NYSE:FRC) traded up 1.25% during midday trading on Tuesday, hitting $103.27. The stock had a trading volume of 952,252 shares. First Republic Bank has a 12-month low of $65.99 and a 12-month high of $103.81. The firm has a market capitalization of $16.24 billion, a P/E ratio of 25.76 and a beta of 0.99. The company has a 50 day moving average price of $96.01 and a 200 day moving average price of $93.89.

FIRST REPUBLIC BANK (NYSE:FRC) last posted its earnings results on Thursday, April 13th. The bank reported $0.96 EPS for the quarter, missing the Zacks' consensus estimate of $0.98 by $0.02. The business had revenue of $601.14 million for the quarter, compared to the consensus estimate of $626.14 million. Republic Bancorp had a net margin of 19.40% and a return on equity of 7.96%. Equities research analysts forecast that Republic Bancorp will post $2.31 earnings per share for the current fiscal year.

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Jefferies Group LLC reaffirmed a "buy" rating and issued a $109.00 target price on shares of First Republic Bank in a research report on Friday, May 5th. Hovde Group raised Republic Bancorp from a "market perform" rating to an "outperform" rating and set a $39.00 price target on the stock in a research report on Wednesday, March 29th. Morgan Stanley lowered their target price on shares of First Republic Bank from $102.00 to $98.00 and set an "equal weight" rating for the company in a report on Tuesday, June 6th. BidaskClub upgraded shares of FIRST REPUBLIC BANK from a "hold" rating to a "buy" rating in a report on Saturday, July 1st. Finally, Deutsche Bank AG boosted their target price on shares of First Republic Bank from $98.00 to $101.00 and gave the company a "hold" rating in a report on Tuesday, April 18th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. The company has a consensus rating of "Buy" and a consensus price target of $101.57.

Republic Bancorp, Inc is a financial holding company of Republic Bank & Trust Company (the Bank) and Republic Insurance Services, Inc (the Captive). The Company operates through four segments: Traditional Banking, which provides traditional banking products to customers; Warehouse Lending (Warehouse), which provides short-term, revolving credit facilities to mortgage bankers across the United States through mortgage warehouse lines of credit; Mortgage Banking, which originates, sells and services long-term, single family, first lien residential real estate loans, and Republic Processing Group (RPG), which facilitates the receipt and payment of federal and state tax refund products.

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