In a report released yesterday, Matthew Clark from Piper Jaffray reiterated a Hold rating on First Republic Bank (NYSE: FRC), with a price target of $94. The company’s shares closed yesterday at $94.08.
According to TipRanks.com, Clark is a 3-star analyst with an average return of 4.2% and a 61.5% success rate. Clark covers the Financial sector, focusing on stocks such as Pacific Premier Bancorp Inc, Heritage Financial Corp, and Cathay General Bancorp.
First Republic Bank has an analyst consensus of Moderate Buy, with a price target consensus of $102.86, a 9.3% upside from current levels. In a report released yesterday, Jefferies also reiterated a Hold rating on the stock with a $102 price target.
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The company has a one-year high of $106.75 and a one-year low of $84.56. Currently, First Republic Bank has an average volume of 931.8K.
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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.
