First Republic Bank (NYSE:FRC) Has Just Had Its Target Price Increased by Equity Research Analysts at Barclays Capital to $75.00

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Stock Analysis:First Republic Bank (NYSE:FRC) Upside Target Change

In an analyst note sent to investors and clients by Barclays Capital on Wednesday, 9 December, First Republic Bank (NYSE:FRC) had its target boosted to $75.00. The firm at present has a solid “Overweight” rating on shares.

From a total of 20 analysts covering First Republic Bank (NYSE:FRC) stock, 7 rate it a ”Buy”, 0 a “Sell”, and 13 a ”Hold”. This means that 35% of the ratings are positive. The highest target price is $82 while the lowest target price is $59. The mean of all analyst targets is $68.86 with a 5.24% above today’s ($66.83) stock price. First Republic Bank was the topic of 8 analyst reports since October 6, 2015 according to the firm StockzIntelligence Inc. Raymond James upgraded shares on November 11 to “Outperform” rating.

Approximately 753,594 shares of stock traded hands. First Republic Bank (NYSE:FRC) has risen 14.60% since May 6, 2015 and is uptrending. It has outperformed by 15.39% the S&P500.

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 a market cap of $9.53 billion. The Firm has offices in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach, San Diego, Portland, Boston, Palm Beach, Greenwich and New York City. It has 21.88 P/E ratio. The Company’s services and products include residential lending, commercial real estate lending, personal lending, private business banking, deposit services, investment management services, brokerage services and trust services.

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.” Get a free copy of the Zacks research report on First Republic Bank (FRC).

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