FIRST REPUBLIC BANK (NYSE:FRC) Receives a Downgrade
FIRST REPUBLIC BANK (NYSE:FRC) shares have been cut to a “Sell” rating by equity research analysts at BidaskScore. FRC’s past rating is now invalid according to the BidaskScore analysts.
First Republic Bank (NYSE:FRC) Ratings Coverage
Among 5 analysts covering First Republic Bank (NYSE:FRC), 2 have Buy rating, 0 Sell and 3 Hold. Therefore 40% are positive. First Republic Bank has $104 highest and $92 lowest target. $96.67’s average target is -5.42% below currents $102.21 stock price. First Republic Bank had 9 analyst reports since October 15, 2018 according to SRatingsIntel. Raymond James maintained First Republic Bank (NYSE:FRC) on Monday, October 15 with “Outperform” rating. The firm earned “Outperform” rating on Thursday, January 3 by Wells Fargo. Morgan Stanley maintained First Republic Bank (NYSE:FRC) on Tuesday, December 11 with “Equal-Weight” rating. Bank of America downgraded the shares of FRC in report on Thursday, January 10 to “Neutral” rating. The firm earned “Equal-Weight” rating on Tuesday, January 8 by Morgan Stanley.
The stock decreased 0.42% or $0.43 during the last trading session, reaching $102.21. About 424,123 shares traded. First Republic Bank (NYSE:FRC) has risen 12.79% since March 12, 2018 and is uptrending. It has outperformed by 8.42% the S&P500.
Analysts await First Republic Bank (NYSE:FRC) to report earnings on April, 12. They expect $1.22 earnings per share, up 7.96 % or $0.09 from last year’s $1.13 per share. FRC’s profit will be $203.99M for 20.94 P/E if the $1.22 EPS becomes a reality. After $1.29 actual earnings per share reported by First Republic Bank for the previous quarter, Wall Street now forecasts -5.43 % negative EPS growth.
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 of the United States. The company has market cap of $17.09 billion. It operates through two divisions, Commercial Banking and Wealth Management. It has a 21.25 P/E ratio. The firm offers deposit products, such as checking, money market checking, savings, and passbook deposits, as well as certificates of deposit.
More notable recent First Republic Bank (NYSE:FRC) news were published by: Bizjournals.com which released: “New York-based bank opens flagship San Francisco office – San Francisco Business Times” on February 26, 2019, also Benzinga.com with their article: “Benzinga’s Top Upgrades, Downgrades For March 1, 2019 – Benzinga” published on March 01, 2019, Fool.com published: “3 Stocks Poised for Huge Growth Over the Next Decade – Motley Fool” on February 28, 2019. More interesting news about First Republic Bank (NYSE:FRC) were released by: Businesswire.com and their article: “First Republic Bank Declares Dividends on Five Series of Perpetual Preferred Stock for First Quarter 2019 – Business Wire” published on March 01, 2019 as well as Businesswire.com‘s news article titled: “First Republic Adds Three Wealth Management Professionals in Jackson, Wyoming – Business Wire” with publication date: February 11, 2019.