First Republic Bank (FRC) was Reiterated by Maxim Group to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 86 from a previous price target of $83 . Maxim Group advised their investors in a research report released on Oct 14, 2016.
Many Wall Street Analysts have commented on First Republic Bank. Company shares were Reiterated by FBR & Co. on Oct 14, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 80 from a previous price target of $73 .Company shares were Reiterated by Barclays on Aug 11, 2016 to “Overweight”, Firm has raised the Price Target to $ 84 from a previous price target of $78 .
On the company’s financial health, First Republic Bank reported $1.00 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 13, 2016. Analyst had a consensus of $0.99. The company had revenue of $557.90 million for the quarter, compared to analysts expectations of $593.52 million. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS.
First Republic Bank closed down -1.14 points or -1.45% at $77.53 with 6,32,679 shares getting traded on Tuesday. Post opening the session at $78.68, the shares hit an intraday low of $77.27 and an intraday high of $79.02 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
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.