First Republic Bank (NYSE:FRC) Lowered to “Neutral” at Atlantic Securities

First Republic Bank (NYSE:FRC – Get Rating) was downgraded by analysts at Atlantic Securities from an “overweight” rating to a “neutral” rating in a report released on Friday, The Fly reports.

A number of other research firms also recently weighed in on FRC. Wedbush restated a “neutral” rating on shares of First Republic Bank in a report on Friday. The Goldman Sachs Group upgraded First Republic Bank from a “neutral” rating to a “buy” rating and set a $142.00 price objective for the company in a report on Thursday, January 5th. Wells Fargo & Company upgraded First Republic Bank from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $100.00 to $125.00 in a report on Thursday, December 15th. JPMorgan Chase & Co. decreased their price objective on First Republic Bank from $145.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, December 13th. Finally, Morgan Stanley decreased their price objective on First Republic Bank from $102.00 to $97.00 and set an “underweight” rating for the company in a report on Tuesday, January 17th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $144.90.

First Republic Bank Stock Down 32.8 %

Shares of NYSE:FRC opened at $23.03 on Friday. The company has a fifty day moving average of $119.69 and a 200-day moving average of $124.83. The company has a market capitalization of $4.14 billion, a PE ratio of 2.79 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.92 and a current ratio of 0.93. First Republic Bank has a 52-week low of $17.53 and a 52-week high of $174.21.

First Republic Bank (NYSE:FRC – Get Rating) last announced its quarterly earnings results on Friday, January 13th. The bank reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.06. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.45 billion. First Republic Bank had a net margin of 24.66% and a return on equity of 12.66%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.02 earnings per share. On average, equities analysts predict that First Republic Bank will post 5.94 EPS for the current fiscal year.

Institutional Investors Weigh In On First Republic Bank

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. raised its holdings in shares of First Republic Bank by 53.6% in the 4th quarter. Victory Capital Management Inc. now owns 109,091 shares of the bank’s stock worth $13,297,000 after acquiring an additional 38,061 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of First Republic Bank by 9.0% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 196,523 shares of the bank’s stock worth $23,954,000 after acquiring an additional 16,280 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of First Republic Bank by 0.6% in the 4th quarter. Macquarie Group Ltd. now owns 1,281,993 shares of the bank’s stock worth $156,263,000 after acquiring an additional 7,762 shares during the last quarter. Ruedi Wealth Management Inc. acquired a new stake in shares of First Republic Bank in the 4th quarter worth about $28,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of First Republic Bank by 7,580.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 138,167 shares of the bank’s stock worth $16,841,000 after acquiring an additional 136,368 shares during the last quarter. 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.