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First Republic Bank (NYSE:FRC) Closes at $96.66, Underpriced by 9.7%

First Republic Bank (NYSE:FRC) Closes at $96.66, Underpriced by 9.7%

Among 17 analysts covering First Republic Bank (NYSE:FRC), 8 have Buy rating, 0 Sell and 9 Hold. Currently, 275.46 million total shares are owned by the public and among those 273.4 million shares have been available to trade. However, revenues increased. Escalating costs owing to investments in digital initiatives are expected to hurt the bank's bottom-line growth further.

First Republic Bank is a commercial bank and trust company. NeuroDerm had 17 analyst reports since August 6, 2015 according to SRatingsIntel. The stock of First Republic Bank (NYSE:FRC) has "Hold" rating given on Friday, July 14 by RBC Capital Markets.

More notable recent First Republic Bank (NYSE:FRC) news were published by: Businesswire.com which released: "First Republic Bank Announces Third Quarter 2017 Earnings and Conference Call Date" on September 26, 2017, also Nasdaq.com with their article: "Analyst Actions: First Republic Bank Price Target Cut to $92 From $96 at BMO ..." published on October 16, 2017, Streetinsider.com published: "First Republic Bank (FRC) PT Raised to $120 at Jefferies" on September 29, 2017. If the published price targets set by First Republic Bank analysts have any power to influence the stock's share price, the highest price target set for FRC is $122. Barclays Capital maintained the stock with "Overweight" rating in Friday, October 14 report. Wall Street is only getting more bullish on the stock, with 9 of analysts who cover FRC having a buy-equivalent rating. At the moment, the average analyst rating for FRC is Hold.

TRADEMARK VIOLATION WARNING: "First Republic Bank (NYSE:FRC) Position Increased by Prudential PLC" was first reported by TrueBlueTribune and is the sole property of of TrueBlueTribune.

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The company's P/E ratio is 22.91 and the market cap of the company is 15.34B. The firm's 50-day moving average price is $99.63 and its 200-day moving average price is $97.34. First Republic Bank has a 52-week low of $72.43 and a 52-week high of $105.52. The bank reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). The company had revenue of $670.30 million for the quarter, compared to the consensus estimate of $678.25 million. The company's revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 earnings per share. On average, equities research analysts forecast that First Republic Bank will post $4.40 earnings per share for the current year. If you are accessing this article on another website, it was illegally stolen and republished in violation of US and worldwide copyright law. The correct version of this piece can be viewed at https://weekherald.com/2017/10/17/first-republic-bank-frc-downgraded-by-zacks-investment-research.html.

A number of other institutional investors also recently bought and sold shares of the business.

DaVita Inc., formerly DaVita HealthCare Partners Inc., operates two divisions: DaVita Kidney Care and DaVita Medical Group (DMG). Sapience Investments LLC lifted its position in FIRST REPUBLIC BANK by 114.1% during the 2nd quarter. National Bank Of New York Mellon Corporation owns 2.97M shares. Barings LLC grew its position in First Republic Bank by 262.3% in the first quarter. Parametric Portfolio Associates LLC now owns 247,954 shares of the bank's stock worth $24,820,000 after acquiring an additional 49,212 shares during the period. Utah Retirement Systems boosted its position in shares of First Republic Bank by 2.1% during the 2nd quarter. Utah Retirement Systems now owns 28,602 shares of the bank's stock valued at $2,863,000 after purchasing an additional 600 shares in the last quarter. Finally, Suntrust Banks Inc. lifted its position in FIRST REPUBLIC BANK by 22.2% during the 2nd quarter.


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