Views of Wall Street’s Leading Experts on First Republic Bank

First Republic Bank (NYSE: FRC) stock fell -0.31% on Friday to $162.44 against a previous-day closing price of $162.94. With 0.88 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.13 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $163.23 whereas the lowest price it dropped to was $161.64. The 52-week range on FRC shows that it touched its highest point at $222.86 and its lowest point at $133.37 during that stretch. It currently has a 1-year price target of $180.19. With its current market cap of 28.31 billion, FRC has annualized dividend of $1.08 while the current yield stands at 0.66%. Beta for the stock currently stands at 1.11.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FRC was up-trending over the past week, with a rise of 1.67%, but this was up by 9.34% over a month. Three-month performance surged to 3.80% while six-month performance fell -8.79%. The stock lost -17.00% in the past year, while it has lost -21.34% so far this year. A look at the trailing 12-month EPS for FRC yields 8.08 with Next year EPS estimates of 9.59. For the next quarter, that number is 2.20. This implies an EPS growth rate of 31.90% for this year and 11.86% for next year. EPS is expected to grow by 8.80% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 14.30%.

Float and Shares Shorts:

At present, 180.00 million FRC shares are outstanding with a float of 178.14 million shares on hand for trading. On Jul 14, 2022, short shares totaled 3.26 million, which was 1.81% higher than short shares on Jun 14, 2022. In addition to Mr. Michael J. Roffler as the firm’s Pres, CEO & Director, Mr. David B. Lichtman serves as its Sr. EVP & Chief Credit Officer.

Institutional Ownership:

Through their ownership of 98.98% of FRC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.48% of FRC, in contrast to 42.06% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in FRC with 10.44% of the stake, The Vanguard Group, Inc. holds 18,756,187 shares worth 18,756,187. A second-largest stockholder of FRC, SSgA Funds Management, Inc., holds 10,019,213 shares, controlling over 5.58% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in FRC, holding 8,756,622 shares or 4.88% stake. With a 2.95% stake in FRC, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 5,300,726 shares are owned by the mutual fund manager. The American Funds AMCAP Fund, which owns about 2.41% of FRC stock, is the second-largest Mutual Fund holder. It holds 4,323,309 shares valued at 623.42 million. Vanguard Mid Cap Index Fund holds 2.30% of the stake in FRC, owning 4,136,966 shares worth 596.55 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FRC since 24 analysts follow the stock currently. There are 11 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 10 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With FRC analysts setting a high price target of $250.00 and a low target of $145.00, the average target price over the next 12 months is $181.02. Based on these targets, FRC could surge 53.9% to reach the target high and fall by -10.74% to reach the target low. Reaching the average price target will result in a growth of 11.44% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. FRC will report FY 2022 earnings on 01/12/2023. Analysts have provided yearly estimates in a range of $8.95 being high and $7.98 being low. For FRC, this leads to a yearly average estimate of $8.55. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. First Republic Bank surprised analysts by $0.07 when it reported $2.16 EPS against a consensus estimate of $2.09. The surprise factor in the prior quarter was $0.10. Based on analyst estimates, the high estimate for the next quarter is $2.33 and the low estimate is $2.04. The average estimate for the next quarter is thus $2.20.

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