Jefferies Reiterates Their Buy Rating on First Republic Bank

By Austin Angelo

In a report issued on June 9, Ken Usdin from Jefferies reiterated a Buy rating on First Republic Bank (NYSE: FRC), with a price target of $109. The company’s shares closed last Friday at $100.15, close to its 52-week high of $100.86.

According to TipRanks.com, Usdin is a top 25 analyst with an average return of 19.9% and a 80.4% success rate. Usdin covers the Financial sector, focusing on stocks such as Government Properties Income Trust, Old National Bancorp Capital, and Discover Financial Services.

First Republic Bank has an analyst consensus of Moderate Buy, with a price target consensus of $100.50.

First Republic Bank’s market cap is currently $15.74B and has a P/E ratio of 24.98. The company has a book value ratio of 2.5592.

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First Republic Bank, Inc. engages in the provision of private banking, private business banking, and private wealth management, including investment, trust and brokerage services through its subsidiaries. Its services includes checking, savings, money market, online and mobile banking, automated teller machine (ATM) card and ATM/debit card, student loan refinancing, residential and personal lending, foreign exchange, business lending by industry, general business loans, commercial real estate and construction loans, business lines of credit, corporate online, treasury services, endowment management, and financial planning. The company was founded by James H. Herbert II in February 1985 and is headquartered in San Francisco, CA.