First Republic Bank (NYSE:FRC) Rating Lowered to Market Perform at Raymond James

First Republic Bank (NYSE:FRC – Get Rating) was downgraded by stock analysts at Raymond James from a “strong-buy” rating to a “market perform” rating in a research report issued on Monday, MarketBeat reports.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price objective on shares of First Republic Bank from $145.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 13th. Stephens upped their price objective on shares of First Republic Bank to $140.00 in a research report on Wednesday, December 14th. Jefferies Financial Group raised shares of First Republic Bank from a “hold” rating to a “buy” rating in a report on Monday, January 9th. Wolfe Research cut shares of First Republic Bank from an “outperform” rating to a “peer perform” rating in a report on Monday. Finally, Evercore ISI dropped their target price on shares of First Republic Bank to $125.00 in a report on Tuesday, November 15th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, First Republic Bank has an average rating of “Hold” and an average target price of $144.90.

First Republic Bank Trading Up 27.0 %

FRC stock opened at $39.63 on Monday. First Republic Bank has a 52 week low of $17.53 and a 52 week high of $174.21. The company’s 50-day simple moving average is $125.34 and its 200 day simple moving average is $127.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market capitalization of $7.12 billion, a PE ratio of 4.80 and a beta of 1.15.

First Republic Bank (NYSE:FRC – Get Rating) last posted its quarterly earnings data on Friday, January 13th. The bank reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.06. First Republic Bank had a net margin of 24.66% and a return on equity of 12.66%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the business posted $2.02 earnings per share. First Republic Bank’s revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts anticipate that First Republic Bank will post 5.94 earnings per share for the current year.

Institutional Trading of First Republic Bank

Several large investors have recently modified their holdings of FRC. American Century Companies Inc. grew its position in shares of First Republic Bank by 10.8% during the 1st quarter. American Century Companies Inc. now owns 11,026 shares of the bank’s stock worth $1,787,000 after buying an additional 1,074 shares during the period. Prudential PLC acquired a new stake in shares of First Republic Bank during the 1st quarter worth approximately $612,000. Cetera Investment Advisers grew its position in shares of First Republic Bank by 1.4% during the 1st quarter. Cetera Investment Advisers now owns 10,227 shares of the bank’s stock worth $1,658,000 after buying an additional 141 shares during the period. Vanguard Group Inc. grew its position in First Republic Bank by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 19,456,873 shares of the bank’s stock valued at $3,153,959,000 after purchasing an additional 373,312 shares during the period. Finally, Candriam Luxembourg S.C.A. grew its position in First Republic Bank by 129.4% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 116,738 shares of the bank’s stock valued at $18,922,000 after purchasing an additional 65,859 shares during the period. Institutional investors and hedge funds own 95.24% of the company’s stock.

About First Republic Bank

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First Republic Bank engages in the provision of private banking, business banking, real estate lending, and wealth management, including trust and custody services. It operates through the Commercial Banking and Wealth Management segments. The Commercial Banking segment represents most of the operations, including real estate secured lending, retail deposit gathering, private banking activities, mortgage sales and servicing, and managing capital, liquidity, and interest rate risk.