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 1.5 %

FRC traded down $2.48 during midday trading on Friday, reaching $163.54. 742,841 shares of the company were exchanged, compared to its average volume of 1,272,529. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.92 and a current ratio of 0.91. The company's fifty day moving average price is $153.48 and its 200 day moving average price is $157.68. The company has a market cap of $29.38 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 2.22 and a beta of 1.11. First Republic Bank has a one year low of $133.37 and a one year high of $222.86.

First Republic Bank (NYSE:FRC - Get Rating) last issued its quarterly earnings data on Thursday, July 14th. The bank reported $2.16 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.11. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.48 billion. First Republic Bank had a return on equity of 12.96% and a net margin of 27.65%. The company's revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.95 EPS. As a group, analysts expect that First Republic Bank will post 8.6 EPS for the current year.

First Republic Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Thursday, July 28th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Wednesday, July 27th. First Republic Bank's dividend payout ratio is currently 13.35%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FRC shares. Maxim Group reissued a "buy" rating and issued a $250.00 price objective on shares of First Republic Bank in a research note on Friday, July 15th. JPMorgan Chase & Co. dropped their price objective on First Republic Bank from $215.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, July 1st. Barclays dropped their price objective on First Republic Bank from $223.00 to $198.00 and set an "equal weight" rating on the stock in a research note on Friday, July 15th. Compass Point set a $175.00 price objective on First Republic Bank in a research note on Tuesday, July 19th. Finally, StockNews.com raised First Republic Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $187.33.