Look At Analyst Expectations For A Better Read On First Republic Bank (NYSE: FRC)

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    The Vanguard Group, Inc. recently announced the acquisition of new stake in First Republic Bank (NYSE:FRC). The institutional investor has increased its shareholding in the Financial company by 25.31% to 18.07 million shares with purchase of 3.65 million shares. This fresh investment now brings its stake to 10.55% valued currently at $1.92 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.25 million to 8.36 million shares. And Select Equity Group LP has lifted its position by 23.07% or 0.99 million shares – to 5.27 million shares.

    With over 0.76 million First Republic Bank (FRC) shares trading Thursday and a closing price of $112.44 on the day, the dollar volume was approximately $85.12 million. The shares have shown a positive weekly performance of 9.90% and its price on 07/16/20 gained nearly 1.22%. Currently, there are 170.84M common shares owned by the public and among those 170.15M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 22 analysts who have offered their price forecasts for FRC have a consensus price objective of $115.05. The analysts have set the share’s price value over the next 12 months at a high of $140.00 and a low of $85.00 should the stock experience a downside. Incidentally, analysts’ outlook for the First Republic Bank stock is 2.50 for the next 12 months. The average price target is -1.47% below its last price level and a downside to the estimated low will see the stock lose -32.28% over that period. But an upside of 19.69% will see the stock hit the forecast high price target while mean target price for the stock is $115.00.

    The top 3 mutual fund holders in First Republic Bank are American Funds Growth Fund of Ame, Vanguard Total Stock Market Index, and American Funds AMCAP Fund. American Funds Growth Fund of Ame owns 7.3 million shares of the company’s stock, all valued at over $773.4 million. The company bought an additional 0.44 million shares recently to bring their total holdings to about 4.26% of the shares outstanding. Vanguard Total Stock Market Index sold 23740.0 shares to see its total holdings shrink to 4.87 million shares valued at over $516.2 million and representing 2.84% of the shares outstanding. American Funds AMCAP Fund sold -0.92 million shares to bring its total holdings to over 4.54 million shares at a value of $481.69 million. American Funds AMCAP Fund now owns shares totaling to 2.65% of the shares outstanding.

    Shares of First Republic Bank (NYSE: FRC) opened at $110.08, down -$1.0 from a prior closing price of $111.08. However, the script later closed the day at $112.44, up 1.22%. The company’s stock has a 5-day price change of 9.90% and 18.12% over the past three months. FRC shares are trading -4.27% year to date (YTD), with the 12-month market performance up to 18.66% higher. It has a 12-month low price of $70.06 and touched a high of $125.12 over the same period. Currently, 0.76 million shares have been traded, compared to an average intraday trading volume of 1.07 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.23%, 5.97%, and 6.60% respectively.

    Institutional ownership of First Republic Bank (NYSE: FRC) 170.84M shares outstanding. Mutual fund holders own 42.06%, while other institutional holders and individual stakeholders account for 59.09% and — respectively.

    It has a market capitalization of $18.70B and a beta (3y monthly) value of 1.17. The stock’s trailing 12-month PE ratio is 21.91, while the earnings-per-share (ttm) stands at $5.13. The company has a PEG of 4.30 and the debt-to-equity ratio at 0.19. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.32% over the week and 3.04% over the month.

    Analysts forecast that First Republic Bank (FRC) will achieve an EPS of $1.17 for the current quarter, $1.29 for the next quarter and $5.32 for 2021. The lowest estimate earnings-per-share for the quarter is $0.99 while analysts give the company a high EPS estimate of $1.34. Comparatively, EPS for the current quarter was $1.24 a year ago. Earnings per share for the fiscal year are expected to increase by 8.10%, and 6.96% over the next financial year. EPS should shrink at an annualized rate of 5.10% over the next five years, compared to 11.10% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 22 brokerage firm advisors rate First Republic Bank (FRC) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 14 of the 22 advise that investors “hold,” and 1 rated it as a “Sell.”

    Looking at the support for the FRC, a number of firms have released research notes about the stock. Atlantic Equities stated their Neutral rating for the stock in a research note on May 05, 2020, with the firm’s price target at $95. Compass Point coverage for the First Republic Bank (FRC) stock in a research note released on April 14, 2020 offered a Buy rating with a price target of. BofA/Merrill was of a view on April 01, 2020 that the stock is Buy, while Citigroup gave the stock Neutral rating on January 09, 2020, issuing a price target of. Wells Fargo on their part issued Underweight rating on January 06, 2020.

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