FIRST REPUBLIC BANK (FRC) Earning Positive News Coverage, Analysis Shows

Patrice Gainsbourg
Julho 17, 2017

A number of brokerages have weighed in on FRC. Piper Jaffray Companies reduced their price target on FIRST REPUBLIC BANK from $97.00 to $92.00 and set a "neutral" rating for the company in a report on Monday, April 17th. Barclays PLC reiterated an "equal weight" rating and set a $110.00 price target (up previously from $101.00) on shares of FIRST REPUBLIC BANK in a research note on Wednesday, July 12th. Zacks Investment Research downgraded shares of FIRST REPUBLIC BANK from a "hold" rating to a "sell" rating in a report on Tuesday, June 6th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of "Hold" and an average price target of $104.54. FBR Capital upgraded First Republic Bank (NYSE:FRC) on Tuesday, December 20 to "Outperform" rating. About shares traded. Alamo Group, Inc. The company has a market capitalization of $524.05 million, a price-to-earnings ratio of 76.67 and a beta of 1.05. First Republic Bank has a 12 month low of $65.99 and a 12 month high of $103.69. The firm's 50 day moving average is $9.22 and its 200-day moving average is $8.42. About shares traded. First Republic Bank (NYSE:FRC) has risen 29.07% since July 17, 2016 and is uptrending. After $1.06 actual earnings per share reported by First Republic Bank for the previous quarter, Wall Street now forecasts 10.38% EPS growth. The company had revenue of $641.30 million for the quarter, compared to analyst estimates of $671.27 million. Analysts expect that Republic First Bancorp will post $0.17 EPS for the current fiscal year. First Republic Bank had 42 analyst reports since October 6, 2015 according to SRatingsIntel.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. The dividend yield will be $0.67. National Pension Service owned about 0.10% of FIRST REPUBLIC BANK worth $15,344,000 at the end of the most recent quarter.

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Tata Nexon engines announced
The Revotorq 1.5 diesel motor will make its debut in the Nexon which is slated for an India launch around September 2017. Engine options on offer are - a 1.2 liter turbocharged Revotron petrol engine and a 1.5 liter diesel engine option.

Want to see what other hedge funds are holding FRC? Israel Discount Bank of NY acquired a new position in shares of FIRST REPUBLIC BANK during the first quarter worth about $107,000. Beese Fulmer Investment Management, Inc. cut its position by selling 163 shares a decrease of 0.3% in the quarter. Baldwin Brothers Inc/ma grew its stake by buying 3,355 shares an increase of 1.9% from 03/31/2017 to 06/30/2017. Finally, Toronto Dominion Bank increased its position in shares of FIRST REPUBLIC BANK by 49.7% in the first quarter.

Trading was heavy with 1,611K shares changing hands in the last trading session. JPMorgan Chase & Co. increased its position in FIRST REPUBLIC BANK by 26.2% in the first quarter. Finally, Private Wealth Partners LLC raised its position in shares of FIRST REPUBLIC BANK by 11.3% in the first quarter. The institutional investor owned 152,590 shares of the bank's stock after buying an additional 13,283 shares during the period.

Hedge funds and other institutional investors have recently modified their holdings of the 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.

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