Stock Mover of The Day: Is Buying First Republic Bank Here a Winning Strategy?

Stock Mover of The Day: Is Buying First Republic Bank Here a Winning Strategy?

The stock of First Republic Bank (NYSE:FRC) reached all time high today, Nov, 10 and still has $114.27 target or 41.00% above today’s $81.04 share price. This indicates more upside for the $12.75 billion company. This technical setup was reported by Barchart.com. If the $114.27 PT is reached, the company will be worth $5.23 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 276,844 shares traded hands. First Republic Bank (NYSE:FRC) has risen 21.07% since April 8, 2016 and is uptrending. It has outperformed by 15.42% the S&P500.

First Republic Bank (NYSE:FRC) Ratings Coverage

Out of 10 analysts covering First Republic Bank (NYSE:FRC), 6 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 60% are positive. First Republic Bank has been the topic of 20 analyst reports since October 6, 2015 according to StockzIntelligence Inc. The firm earned “Sector Perform” rating on Monday, October 19 by RBC Capital Markets. FBR Capital maintained First Republic Bank (NYSE:FRC) rating on Friday, July 15. FBR Capital has “Mkt Perform” rating and $73 price target. The firm has “Buy” rating given on Monday, February 22 by Jefferies. The rating was maintained by JP Morgan with “Overweight” on Friday, July 15. FBR Capital maintained the shares of FRC in a report on Friday, October 14 with “Mkt Perform” rating. The stock has “Outperform” rating given by Raymond James on Wednesday, November 11. The company was maintained on Friday, October 14 by Wood. The firm earned “Overweight” rating on Thursday, August 11 by Barclays Capital. The rating was maintained by Keefe Bruyette & Woods with “Market Perform” on Friday, July 15. The stock has “Buy” rating given by HSBC on Monday, February 22.

According to Zacks Investment Research, “First Republic Bank operates as a commercial bank offering private banking, business banking, real estate lending and wealth management services in California. The bank’s services are catered to accounting firms, architecture and design, business management firms, entertainment/media, family offices, hedge funds, independent schools, investment firms, law firms, medical firms, non-profit organizations, private equity funds/firms, property management firms, venture capital firms and etc. Services offered by First Republic include asset allocation, trust administration, custody, asset management, brokerage, private placements, ATM rebate checking, money market checking, passbook savings, and certificates of deposit and etc. The Company’s product include family mortgages, co-op and condominium loans, home equity lines of credit, bridge loans, and construction-to-permanent loans; commercial lending and personal lending. First Republic Bank is headquartered in San Francisco, California.”

More notable recent First Republic Bank (NYSE:FRC) news were published by: Forbes.com which released: “First Republic Bank’s Series D Preferred Stock Yield Pushes Past 5.5%” on November 08, 2016, also Wsj.com with their article: “First Republic: Is It Wrong to Build a Bank for Wealthy Clients Only?” published on August 16, 2016, Forbes.com published: “Ex-Dividend Reminder: Ford Motor, Williams Sonoma and First Republic Bank” on October 21, 2016. More interesting news about First Republic Bank (NYSE:FRC) were released by: Prnewswire.com and their article: “First Republic Bank To Host Investor Day” published on October 18, 2016 as well as Finance.Yahoo.com‘s news article titled: “First Republic Bank beats 3Q profit forecasts” with publication date: October 13, 2016.

FRC Company Profile

First Republic Bank, incorporated on October 15, 2009, is a commercial bank and trust company. 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. The Bank operates through two divisions: Commercial Banking and Wealth Management. The Bank offers services through approximately 70 offices located primarily in the areas, such as San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach, San Diego, Portland (Oregon), Boston, Palm Beach (Florida), Greenwich and New York City. The Bank has approximately five additional offices that offer lending, wealth management or trust services. It originates real estate-secured loans and other loans for retention in its loan portfolio.

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