First Republic Bank (FRC) was Reiterated by FBR Capital to “Mkt Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 70 from a previous price target of $65 . FBR Capital advised their investors in a research report released on Apr 19, 2016.
Many Wall Street Analysts have commented on First Republic Bank. Company shares were Reiterated by Maxim Group on Apr 15, 2016 to “Buy”, Firm has raised the Price Target to $ 83 from a previous price target of $75 .First Republic Bank was Upgraded by Jefferies to ” Buy” on Feb 22, 2016.
On the company’s financial health, First Republic Bank reported $0.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 14, 2016. Analyst had a consensus of $0.81. The company had revenue of $554.90 million for the quarter, compared to analysts expectations of $541.78 million. The company’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.
First Republic Bank opened for trading at $70.09 and hit $71.56 on the upside on Monday, eventually ending the session at $71.32, with a gain of 0.69% or 0.49 points. The heightened volatility saw the trading volume jump to 9,23,112 shares. Company has a market cap of $10,169 M.
First Republic Bank and its subsidiaries provide private banking private business banking and private wealth management including investment trust and brokerage services. The Company has offices in San Francisco Palo Alto Los Angeles Santa Barbara Newport Beach San Diego Portland Boston Palm Beach Greenwich and New York City. The Company’s products and services include residential lending commercial real estate lending personal lending private business banking deposit services investment management services brokerage services and trust services. The Bank offers full-service banking on both coasts including free online banking free bill pay and free access to automated teller machines (ATMs) across the world.