First Republic Bank (FRC) Receives a Hold from Jefferies


In a report released today, Ken Usdin from Jefferies reiterated a Hold rating on First Republic Bank (FRC), with a price target of $85. The company’s shares opened today at $87.79.

According to TipRanks.com, Usdin is a top 25 analyst with an average return of 20.6% and a 75.7% success rate. Usdin covers the Financial sector, focusing on stocks such as State Street Corp, Bank of America, and JP Morgan Chase.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for First Republic Bank with a $99.50 average price target, which is a 13.3% upside from current levels. In a report released yesterday, Raymond James also downgraded the stock to Hold.

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First Republic Bank’s market cap is currently $14.41B and has a P/E ratio of 18.93. The company has a Price to Book ratio of 1.91.

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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.

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