The stock of First Republic Bank (NYSE:FRC) reached all time high today, Oct, 6 and still has $93.65 target or 20.00% above today’s $78.04 share price. This indicates more upside for the $11.90B company. This technical setup was reported by Barchart.com. If the $93.65 PT is reached, the company will be worth $2.38B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 131,221 shares traded hands. First Republic Bank (NYSE:FRC) has risen 15.97% since March 3, 2016 and is uptrending. It has outperformed by 7.63% the S&P500.
Analysts await First Republic Bank (NYSE:FRC) to report earnings on October, 20. They expect $0.99 EPS, up 20.73% or $0.17 from last year’s $0.82 per share. FRC’s profit will be $150.96M for 19.71 P/E if the $0.99 EPS becomes a reality. After $0.89 actual EPS reported by First Republic Bank for the previous quarter, Wall Street now forecasts 11.24% EPS growth.
First Republic Bank (NYSE:FRC) Ratings Coverage
Out of 8 analysts covering First Republic Bank (NYSE:FRC), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. First Republic Bank has been the topic of 16 analyst reports since October 6, 2015 according to StockzIntelligence Inc. On Friday, July 15 the stock rating was maintained by Keefe Bruyette & Woods with “Market Perform”. The stock of First Republic Bank (NYSE:FRC) earned “Buy” rating by Jefferies on Monday, February 22. FBR Capital maintained it with “Mkt Perform” rating and $73 target price in Friday, July 15 report. The firm has “Overweight” rating given on Friday, July 15 by JP Morgan. The rating was maintained by Barclays Capital with “Overweight” on Thursday, August 11. Raymond James upgraded the stock to “Outperform” rating in Wednesday, November 11 report. The firm has “Buy” rating by HSBC given on Monday, February 22. The stock of First Republic Bank (NYSE:FRC) earned “Sector Perform” rating by RBC Capital Markets on Monday, October 19.
According to Zacks Investment Research, “First Republic Bank operates as a commercial bank offering private banking, business banking, real estate lending and wealth management services in California. The bank’s services are catered to accounting firms, architecture and design, business management firms, entertainment/media, family offices, hedge funds, independent schools, investment firms, law firms, medical firms, non-profit organizations, private equity funds/firms, property management firms, venture capital firms and etc. Services offered by First Republic include asset allocation, trust administration, custody, asset management, brokerage, private placements, ATM rebate checking, money market checking, passbook savings, and certificates of deposit and etc. The Company’s product include family mortgages, co-op and condominium loans, home equity lines of credit, bridge loans, and construction-to-permanent loans; commercial lending and personal lending. First Republic Bank is headquartered in San Francisco, California.”
More notable recent First Republic Bank (NYSE:FRC) news were published by: Wsj.com which released: “First Republic: Is It Wrong to Build a Bank for Wealthy Clients Only?” on August 16, 2016, also Reuters.com with their article: “BRIEF-First Republic Bank announces Q3 earnings date” published on September 27, 2016, Prnewswire.com published: “First Republic Bank Names Chris Wolfe Chief Investment Officer Of Private …” on May 19, 2016. More interesting news about First Republic Bank (NYSE:FRC) were released by: Prnewswire.com and their article: “First Republic Bank Declares Dividends On Seven Series Of Perpetual Preferred …” published on September 02, 2016 as well as Thestreet.com‘s news article titled: “First Republic Bank (FRC) Stock Price Target Upped at Barclays” with publication date: April 15, 2016.
FRC Company Profile
First Republic Bank, incorporated on October 15, 2009, is a commercial bank and trust company. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States. The Bank operates through two divisions: Commercial Banking and Wealth Management. The Bank offers services through approximately 70 offices located primarily in the areas, such as San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach, San Diego, Portland (Oregon), Boston, Palm Beach (Florida), Greenwich and New York City. The Bank has approximately five additional offices that offer lending, wealth management or trust services. It originates real estate-secured loans and other loans for retention in its loan portfolio.
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