BMO Capital analyst Lana Chan reiterated a Hold rating on First Republic Bank (NYSE: FRC) on October 16 and set a price target of $100. The company’s shares closed on Friday at $89.88.
According to TipRanks.com, Chan is a 4-star analyst with an average return of 10.3% and a 60.8% success rate. Chan covers the Financial sector, focusing on stocks such as Fifth Third Bancorp, Boston Private Fin, and Signature Bank.
Currently, the analyst consensus on First Republic Bank is a Moderate Buy with an average price target of $101.67, implying a 13.1% upside from current levels. In a report issued on October 15, RBC Capital also maintained a Hold rating on the stock with a $96 price target.
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First Republic Bank’s market cap is currently $14.81B and has a P/E ratio of 19.45. The company has a Price to Book ratio of 1.97.
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First Republic Bank engages in the provision of private banking, business banking, and wealth management, including investment, trust and brokerage services through its subsidiaries. Its services includes checking, savings, money market, online and mobile banking, automated teller machine (ATM) card and ATM/debit card, student loan refinancing, residential and personal lending, foreign exchange, business lending by industry, general business loans, commercial real estate and construction loans, business lines of credit, corporate online, treasury services, endowment management, and financial planning. It operates through two segments: Commercial Banking and Wealth Management. The Commercial Banking segment engages in attracting funds from the general public, originating loans and investing in investment securities. The Wealth Management segment engages in mutual fund activities. The company was founded by James H. Herbert II in February 1985 and is headquartered in San Francisco, CA.
