First Republic Bank (FRC) Price Target: Is It Set To Rise Or Fall In Price?

First Republic Bank (NYSE:FRC) finished Friday with an addition of $3.29 to close at $218.14, an upside of 1.53 percent. An average of 647,420 shares of common stock have been traded in the last five days. There was a gain of $7.74 in the past week, and it reached a new high 45 times over the past 12 months. The last 20 days have seen an average of 733,325 shares traded, while the 50-day average volume stands at 647,536.

FRC stock has increased by 11.39% in the last month. The company shares reached their 1-month lowest point of $191.90 on 09/28/21. With the stock rallying to its 52-week high on 10/22/21, shares of the company touched a low of $122.73 and a high of $215.29 in 52 weeks. It has reached a new high 40 times so far this year and achieved 48.47% or $71.21 in price. In spite of this, the price is up 1.32% from the 52-week high.

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Valuation Metrics

First Republic Bank (FRC) has a trailing price-to-earnings (P/E) ratio of 30.07, which compares with the 16.80 for the broader industry and 13.15 for the sector. In the last five years, First Republic Bank’s PE ratio has ranged between 31.39 and 14.54. The stock’s beta is 1.11. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 9.26, the price-to-book (PB) ratio at 3.46.

First Republic Bank pays a $0.88 dividend per share annually. It offers a dividend yield of 0.40%. The company has a payout ratio of 12.40%. The company’s most recent quarterly dividend payment was $0.22 a share, without any change from last year. Its dividend has been increased for the last 9 consecutive years with the latest increase dividend $0.02 reported on Wednesday April 14 2021.Dividends have grown by 17.91% each year over the last three years.

Further, the company has a long term debt to equity ratio of 0.16 and a total debt to equity ratio of 0.16 for the quarter ending June 29. Its gross profit as reported stood at $3.26 billion compared to revenue of $3.85 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, First Republic Bank’s return on assets was 0.80%. For the broader industry, ROE averaged 11.10 over the past year.

Earnings Surprise

The analyst consensus anticipated First Republic Bank’s latest quarter earnings to come in at $1.73 per share, but it turned out to be $1.95, a 12.70% surprise. At the end of the quarter ending June 29, First Republic Bank’s stock balance sheet showed total debt was $12.23 billion.

Technical Picture

From a technical analysis perspective, let’s take a brief look at First Republic Bank (FRC) price momentum. RSI 9-day as of the close on 22 October was 78.93%, suggesting the stock is Overbought, with historical volatility in this time frame at 15.86%.

As of today, FRC’s price is $213.07 +3.68% or $7.74 from its 5-day moving average. FRC is currently trading +10.39% higher than its 20-day SMA and +13.09% higher than its 100-day SMA. However, the stock’s current price level is +8.98% above the SMA50 and +36.24% above the SMA200.

The stochastic %K and %D were 95.64% and 93.34%, respectively, and the average true range (ATR) was 4.46. With the 14-day stochastic at 93.73% and the average true range at 4.46, the RSI (14) stands at 72.19%. The stock has reached 4.98 on the 9-day MACD Oscillator while the 14-day reading was at 7.77.

Analyst Ratings

Credit Suisse downgraded First Republic Bank (NYSE: FRC) to a an Underperform rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for First Republic Bank (FRC) among analysts is Hold. According to current brokerage recommendations, 2 brokerage firms advise that investors sell FRC, while 12 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 8 others rate it as a “buy”.

What is FRC’s price target for the next 12 months?

Analysts predict a range of price targets between $180.00 and $250.00, with a median target of $215.00. Taking a look at these predictions, the average price target given by analysts for First Republic Bank (FRC) stock is $217.10.


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