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 Stock Down 2.3 %

Shares of NYSE:FRC traded down $3.94 during midday trading on Wednesday, hitting $166.18. 7,646 shares of the stock traded hands, compared to its average volume of 926,107. The company has a market cap of $29.85 billion, a PE ratio of 21.03, a P/E/G ratio of 2.25 and a beta of 1.11. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.92 and a current ratio of 0.91. First Republic Bank has a one year low of $133.37 and a one year high of $222.86. The business has a 50 day moving average price of $152.35 and a two-hundred day moving average price of $157.76.

First Republic Bank (NYSE:FRC - Get Rating) last released its quarterly earnings data on Thursday, July 14th. The bank reported $2.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company posted $1.95 EPS. The firm's revenue for the quarter was up 22.6% compared to the same quarter last year. On average, equities analysts predict that First Republic Bank will post 8.57 EPS for the current year.

First Republic Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Thursday, July 28th were issued 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 dividend payout ratio is presently 13.35%.

Wall Street Analyst Weigh In

Several analysts recently commented on FRC shares. StockNews.com upgraded shares of First Republic Bank from a "sell" rating to a "hold" rating in a report on Wednesday, August 10th. Compass Point set a $175.00 target price on shares of First Republic Bank in a research report on Tuesday, July 19th. Maxim Group reaffirmed a "buy" rating and set a $250.00 target price on shares of First Republic Bank in a research report on Friday, July 15th. TheStreet raised shares of First Republic Bank from a "c+" rating to a "b" rating in a research report on Tuesday, August 9th. Finally, Wolfe Research dropped their target price on shares of First Republic Bank from $194.00 to $157.00 and set an "outperform" rating on the stock in a research report on Thursday, May 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $187.33.