Wells Fargo Maintains Overweight Rating, Raises PT to $135 from $130

Wells Fargo Maintains Overweight Rating, Raises PT to $135 from $130

In a recent update, Wells Fargo has maintained its "Overweight" rating for First Republic Bancshares Inc. (FRPT) while raising its price target to $135 from $130. This move suggests a positive outlook for the bank's stock performance [1].

Wells Fargo's latest rating and price target adjustment come after a period of significant market activity surrounding FRPT. In the past six months, analysts have issued a mix of buy and sell ratings, with a majority favoring the stock. Notably, Wells Fargo's "Overweight" rating aligns with the consensus view among analysts, who have issued an average of 12 price targets in the last six months, with a median target of $115.0 [1].

The bank's insider trading activity also reflects a bullish sentiment. Insiders have made 14 purchases of FRPT stock in the past six months, with no sales reported. This indicates that key insiders are confident in the stock's future prospects [1].

Additionally, hedge funds have shown increased interest in FRPT. Over 197 institutional investors have added shares to their portfolios, while 222 have decreased their positions in the most recent quarter. Notable moves include Blackrock Inc. adding 3.179 million shares to its portfolio in Q1 2025 [1].

Wells Fargo's updated rating and price target for FRPT underscore the bank's confidence in the stock's potential for growth and value appreciation. Investors should closely monitor the bank's performance and any future updates to its rating and price target for FRPT.

References:
[1] https://www.nasdaq.com/articles/new-analyst-forecast-frpt-given-overweight-rating