Credit Suisse Group’s price target suggests a potential gain of 35.80% over the current company price.
Recent reports have been released by other equity research analysts about the company. Piper Sandler lowered their target price for First Republic Bank in a Tuesday research report from $15.00 down to $13.00. Wolfe Research downgraded First Republic Bank's rating from 'outperform to peer perform' in a report published on Monday, 13th March. Argus downgraded First Republic Bank's rating from 'overweight to neutral' in a report published on Friday, 17th March. Atlantic Securities downgraded First Republic Bank's rating from 'overweight to neutral' in a report published on March 17th. In a report published on Thursday, Jan. 5th, Goldman Sachs Group upgraded First Republic Bank to a "buy" rating. They set a price target of $142,00 for the stock. Four investment analysts gave the stock a sell recommendation, 12 have given a hold recommendation and five have given a buy recommendation. Trading on Tuesday saw a decline of $7.90, bringing the price to $8.10. The company's average volume is 32,158.473. The company's 50-day simple moving is $56.11 while its 200-day simple moving is $100.93. Stock has a $1.46 billion market cap, a P/E of 0.98, and a beta value of 1.02. First Republic Bank's 12-month low is $7.92, and its 12-month high is $171.09. The company's current ratio is 0.97, its quick ratio is 0.97, and it has a debt to equity ratio of 1.11.
The last time the company released quarterly earnings was on April 24th. The bank's earnings per share were $1.23, exceeding the consensus estimate of $0.72 analysts by $0.51. Revenue was $1.21 billion, which is higher than analyst expectations of $1.13. First Republic Bank's return on equity was 12.66% and its net margin was 24.66%. Revenue was down 13.4% year-over-year. In the same quarter of last year, First Republic Bank posted $2.00 in earnings per share. Research analysts expect First Republic Bank to post 0.04 earnings per common share in the current fiscal.
First Republic Bank: Institutional Trading
Recently, institutional investors have made changes to the positions they hold in the company. Echo Street Capital Management LLC acquired a new stake of approximately $236,000.00 in First Republic Bank shares during the third quarter. Quadrant Capital group LLC increased its stake in First Republic Bank during the third quarter by 18.1%. Quadrant Capital LLC owns now 1,399 shares worth $183,000 of the bank stock after buying 214 additional shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in First Republic Bank shares by 14.5% over the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owns 116.043 shares worth $15.149,000, after purchasing an additional 14,698 during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in First Republic Bank shares by 19.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank owns 26,494 of the bank’s stock, valued at $3.459,000. This is after purchasing 4,367 additional shares during the third quarter. Chartwell Investment Partners LLC acquired a new stake of First Republic Bank shares in the third quarter, valued at $242,000 95.24 % of the stock is owned by hedge funds and institutional investors.
First Republic Bank Company Overview
First Republic Bank provides private banking, commercial banking, real estate loans, wealth management services, as well as trust and custody. Commercial Banking and Wealth Management are its two segments. Commercial Banking is the largest segment, which includes real estate secured loans, retail deposit gathering activities, private banking, mortgage sales and services, and managing liquidity, capital, and interest rate risks.
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