Wells Fargo analyst Jared Shaw maintained a Sell rating on First Republic Bank (FRC) today and set a price target of $65.00. The company’s shares closed last Monday at $84.74.
According to TipRanks.com, Shaw is a 2-star analyst with an average return of -0.4% and a 50.8% success rate. Shaw covers the Financial sector, focusing on stocks such as First Interstate Bancsystem, Pinnacle Financial Partners, and People’s United Financial.
First Republic Bank has an analyst consensus of Hold, with a price target consensus of $112.27.
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First Republic Bank’s market cap is currently $14.1B and has a P/E ratio of 15.80. The company has a Price to Book ratio of 1.67.
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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.
