First Republic has been a strong earnings performer, with ROA ranging from 1.31% to 1.57% over the past year, with a net interest margin above 4%.
The bank's shares closed at $30.11 Friday, down 2% year-to-date, following a 5% return during 2011.
The shares trade for 1.6 times tangible book value and 10 times the consensus 2013 earnings estimate of $2.89 a share, among analysts polled by Thomson Reuters. The consensus 2012 EPS estimate is $2.77.Bank of America Merrill Lynch analyst Erika Penala on May 23 reiterated her "Buy" rating for First Republic Bank, with a price target of $36, saying the stock offers investors "high quality, superior loan growth and a defensive balance sheet," while forecasting "best in class annual organic loan growth" of "18% in 2012; 17% in 2013; and 12% in 2014." Interested in more on First Republic Bank? See TheStreet Ratings' report card for this stock.
Strongest California Banks and ThriftsBased on fourth-quarter financial reports, 11 California institutions were assigned "recommended" ratings of B-plus or above by Weiss Ratings:
Thorough Bank Failure CoverageThere has been only one bank failure in California this year. All 438 previous U.S. bank and thrift closures since the beginning of 2008 are detailed in TheStreet's interactive bank failure map:
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