First Republic Bank (NYSE:FRC) Now Covered by Credit Suisse Group

Investment analysts at Credit Suisse Group initiated coverage on shares of First Republic Bank (NYSE:FRC) in a research note issued on Friday, MarketBeat reports. The firm set a “neutral” rating and a $105.00 price target on the bank’s stock. Credit Suisse Group’s target price points to a potential upside of 8.98% from the company’s current price.

FRC has been the subject of a number of other reports. Stephens reaffirmed a “buy” rating and set a $115.00 target price on shares of First Republic Bank in a report on Thursday, March 21st. Atlantic Securities lowered shares of First Republic Bank from an “overweight” rating to a “neutral” rating and set a $104.98 price target for the company. in a research report on Friday, March 1st. ValuEngine lowered shares of First Republic Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Wells Fargo & Co upped their price target on shares of First Republic Bank from $110.00 to $112.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Finally, Maxim Group reiterated a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of First Republic Bank in a research report on Friday, April 12th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $104.57.

Shares of FRC stock opened at $96.35 on Friday. First Republic Bank has a 12 month low of $79.42 and a 12 month high of $107.75. The company has a market cap of $16.13 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 1.62 and a beta of 0.96. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.99 and a quick ratio of 0.99.

First Republic Bank (NYSE:FRC) last announced its earnings results on Friday, April 12th. The bank reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.04. First Republic Bank had a net margin of 23.61% and a return on equity of 11.56%. The business had revenue of $807.36 million during the quarter, compared to analysts’ expectations of $813.99 million. During the same period in the prior year, the company earned $1.13 earnings per share. As a group, research analysts predict that First Republic Bank will post 5.29 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of FRC. Pearl River Capital LLC bought a new position in shares of First Republic Bank in the fourth quarter worth approximately $26,000. Destination Wealth Management bought a new position in shares of First Republic Bank during the first quarter worth $32,000. AdvisorNet Financial Inc bought a new position in shares of First Republic Bank during the first quarter worth $33,000. Carroll Financial Associates Inc. boosted its position in shares of First Republic Bank by 112.6% during the first quarter. Carroll Financial Associates Inc. now owns 404 shares of the bank’s stock worth $40,000 after acquiring an additional 214 shares during the last quarter. Finally, Portfolio Solutions LLC bought a new position in shares of First Republic Bank during the fourth quarter worth $43,000.

About First Republic Bank

First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit.

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Analyst Recommendations for First Republic Bank (NYSE:FRC)

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