In a report released today, Michael Diana from Maxim Group reiterated a Buy rating on First Republic Bank (FRC), with a price target of $110. The company’s shares opened today at $91.94.
Diana wrote:
“4Q18 results included very strong growth in loans and deposits, a wider NIM, and excellent credit quality. We are reiterating our Buy rating and price target of $110. Our price target equates to 20.0x our 2019 EPS estimate, inline with other best-in-class Smid- Cap Banks.”
According to TipRanks.com, Diana is a 4-star analyst with an average return of 3.4% and a 53.4% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.
First Republic Bank has an analyst consensus of Moderate Buy, with a price target consensus of $98.11, representing a 6.7% upside. In a report issued on January 2, Wells Fargo also upgraded the stock to Buy with a $100 price target.
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First Republic Bank’s market cap is currently $13.9B and has a P/E ratio of 18.26. The company has a Price to Book ratio of 1.85.
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First Republic Bank engages in the provision of private banking, business banking, real estate lending, and wealth management, including trust and custody services. It operates through the Commercial Banking and Wealth Management segment.
