Economy

First Republic Bank Q3 Profit Advances 20%

First Republic Bank Q3 Profit Advances 20%”

The stock closing price is now trading downward to its 50 day moving average with change of -0.21%, tumbled to its 20 day moving average with figure of -0.19% and behind its 200 day moving average with value -5.98%.

In terms of earnings per share, 21 analysts have a 1.21 EPS mean target for the quarter ending Dec-17, for the quarter ending Mar-18, 18 analysts have a 1.19 EPS mean target and for the quarter ending Mar-18 there are 23 estimates of 4.43 EPS.

The results did not meet Wall Street expectations. The company had revenue of $670.30 million for the quarter, compared to analyst estimates of $678.25 million. Of the 22 analysts surveyed by Reuters that track FRC 13 of them rate its stock a hold.

Current levels places First Republic Bank (NYSE:FRC)'s stock about -7.94% from the 50-day high and 5.61% away from the 50-day low.

First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Friday, October 13th.

Oclaro, Inc. (NASDAQ:OCLR) has a market cap of $1.46 billion and over the last 12 months, OCLR has risen by 2.03%. Maxim Group maintained the shares of FRC in report on Tuesday, January 17 with "Buy" rating. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank's stock worth $195,000 after acquiring an additional 5 shares in the last quarter. First Republic Bank now has an average rating of "Hold" and an average target price of $104.92. Maxim Group restated a "buy" rating and issued a $110.00 price target (up previously from $105.00) on shares of First Republic Bank in a research note on Friday, July 14th. The company presently has an average rating of "Hold" and an average target price of $104.92. First Republic Bank (NYSE:FRC), at its latest closing price of $102.17, it has a price-to-book ratio of 0.00, compared to an industry average at 0.56.

COPYRIGHT VIOLATION NOTICE: This story was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of USA & global trademark & copyright legislation. During the same quarter in the previous year, the company posted $1.00 EPS. The legal version of this piece can be read at https://stocknewstimes.com/2017/10/13/first-republic-bank-frc-downgraded-by-barclays-plc.html.

Total shares held by institutions as of the most recent company filings are 157,172,768 with a reported 12,296,398 bought and 13,722,335 sold. Parallel Advisors LLC grew its position in shares of First Republic Bank by 628.2% during the 1st quarter. Alps Advisors Inc. grew its stake in shares of First Republic Bank by 0.3% in the second quarter. A P/B ratio of less than 1.0 can indicate that a stock is undervalued, while a ratio of greater than 1.0 may indicate that a stock is overvalued.

First Republic Bank is a commercial bank and trust company. Raymond James upgraded the stock to "Buy" rating in Thursday, July 6 report. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States.



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