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 Up 1.0 %

FRC Stock traded up $1.68 during trading on Tuesday, hitting $170.60. The company had a trading volume of 9,221 shares, compared to its average volume of 998,982. The firm has a 50-day moving average price of $152.02 and a 200-day moving average price of $157.67. The stock has a market cap of $30.65 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 2.25 and a beta of 1.11. First Republic Bank has a 12 month low of $133.37 and a 12 month high of $222.86. 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 issued its earnings results on Thursday, July 14th. The bank reported $2.16 EPS for the quarter, beating the consensus estimate of $2.05 by $0.11. The company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.48 billion. First Republic Bank had a net margin of 27.65% and a return on equity of 12.96%. The business's revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.95 EPS. As a group, analysts predict that First Republic Bank will post 8.57 earnings per share for the current year.

First Republic Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Thursday, July 28th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Wednesday, July 27th. First Republic Bank's payout ratio is 13.35%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. TheStreet raised First Republic Bank from a "c+" rating to a "b" rating in a research report on Tuesday, August 9th. Morgan Stanley decreased their target price on First Republic Bank from $180.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 12th. Barclays decreased their target price on First Republic Bank from $223.00 to $198.00 and set an "equal weight" rating on the stock in a research report on Friday, July 15th. Atlantic Securities raised First Republic Bank from a "neutral" rating to an "overweight" rating and decreased their price objective for the company from $210.00 to $188.00 in a report on Friday, July 1st. Finally, JPMorgan Chase & Co. decreased their price objective on First Republic Bank from $215.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, July 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $187.33.