Maxim (NASDAQ:MXIM) Group analyst Michael Diana reiterated a Buy rating on First Republic Bank (NYSE:FRC) on Wednesday, setting a price target of $128, which is approximately 17.73% above the present share price of $108.72.
Diana expects First Republic Bank to post earnings per share (EPS) of $1.20 for the third quarter of 2020.
The current consensus among 13 TipRanks analysts is for a Moderate Buy rating of shares in First Republic Bank, with an average price target of $115.31.
The analysts price targets range from a high of $140 to a low of $85.
In its latest earnings report, released on 03/31/2020, the company reported a quarterly revenue of $899.97 million and a net profit of $0. The company's market cap is $19.04 billion.
According to TipRanks.com, Maxim Group analyst Michael Diana is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -5.6% and a 46.62% success rate.
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.