Merrill Lynch analyst Erika Najarian reiterated a Buy rating on First Republic Bank (FRC) today and set a price target of $108.00. The company’s shares closed last Wednesday at $93.94.
According to TipRanks.com, Najarian is a 2-star analyst with an average return of -1.0% and a 47.1% success rate. Najarian covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Huntington Bancshares, and JPMorgan Chase & Co.
First Republic Bank has an analyst consensus of Moderate Buy, with a price target consensus of $101.54, which is a 5.8% upside from current levels. In a report issued on April 1, KBW also upgraded the stock to Buy with a $110.00 price target.
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First Republic Bank’s market cap is currently $17.06B and has a P/E ratio of 18.00. The company has a Price to Book ratio of 1.90.
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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 segments. The Commercial Banking segment represents most of the operations, including real estate secured lending, retail deposit gathering, private banking activities, mortgage sales and servicing, and managing capital, liquidity, and interest rate risk. The Wealth Management segment consists of the investment management activities of FRIM, First Republic Trust Company, FRTC Delaware, mutual fund activities through third-party providers, the brokerage activities of FRSC, and foreign exchange activities conducted on behalf of clients. The company was founded by James H. Herbert II in February 1985 and is headquartered in San Francisco, CA.
