First Republic Bank - FRC Stock Forecast, Price & News

First Republic Bank, together with its subsidiaries, provides private banking, private business banking, and private wealth management services to clients in metropolitan areas in the United States. It operates in two segments, Commercial Banking and Wealth Management. The company accepts deposit products, such as noninterest-bearing checking, interest-bearing checking, money market checking accounts, money market savings accounts, and passbook accounts, as well as certificates of deposit. It also offers a range of lending products that comprise residential mortgage loans, home equity lines of credit, multifamily loans, commercial real estate and construction loans, personal and business loans, single family construction loans, and other loans and lines of credit to businesses and individuals. The company's loans are secured by single family residences, multifamily buildings, and commercial real estate properties. In addition, it provides wealth management services, which include various investment strategies and products, online investment management, trust and custody, full service and online brokerage, financial and estate planning, and access to alternative investments, as well as investing, insurance, and foreign exchange services. Further, the company offers online and mobile banking services; refinancing services; and ATM and debit cards. As of December 31, 2021, it offered its services through 82 licensed deposit taking offices primarily in the San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach and San Diego, California; Portland, Oregon; Boston, Massachusetts; Palm Beach, Florida; Greenwich, Connecticut; New York, New York; and Jackson, Wyoming. It also has 12 additional offices that offer lending, wealth management, or trust services. First Republic Bank was founded in 1985 and is headquartered in San Francisco, California.

First Republic Bank Trading Down 1.9 %

Shares of NYSE:FRC opened at $166.92 on Thursday. The stock's 50 day moving average price is $152.67 and its two-hundred day moving average price is $157.82. First Republic Bank has a 52-week low of $133.37 and a 52-week high of $222.86. The stock has a market capitalization of $29.99 billion, a P/E ratio of 20.63, a PEG ratio of 2.26 and a beta of 1.11. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 0.47.

First Republic Bank (NYSE:FRC - Get Rating) last announced its quarterly earnings data on Thursday, July 14th. The bank reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.11. First Republic Bank had a return on equity of 12.96% and a net margin of 27.65%. The firm had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the prior year, the firm posted $1.95 earnings per share. First Republic Bank's revenue for the quarter was up 22.6% compared to the same quarter last year. On average, analysts anticipate that First Republic Bank will post 8.57 earnings per share for the current fiscal year.

First Republic Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Thursday, July 28th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Wednesday, July 27th. First Republic Bank's payout ratio is currently 13.35%.

Analyst Ratings Changes

A number of brokerages have commented on FRC. Jefferies Financial Group boosted their price objective on First Republic Bank from $170.00 to $171.00 in a research note on Monday, July 11th. TheStreet upgraded First Republic Bank from a "c+" rating to a "b" rating in a research note on Tuesday, August 9th. Atlantic Securities upgraded First Republic Bank from a "neutral" rating to an "overweight" rating and cut their price target for the stock from $210.00 to $188.00 in a research note on Friday, July 1st. Morgan Stanley cut their price target on First Republic Bank from $180.00 to $160.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 12th. Finally, StockNews.com upgraded First Republic Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, First Republic Bank has an average rating of "Hold" and an average target price of $187.33.