First Republic Bank (NYSE:FRC) – Jefferies Group cut their Q1 2018 earnings estimates for First Republic Bank in a research report issued on Friday, according to Zacks Investment Research. Jefferies Group analyst C. Haire now forecasts that the bank will post earnings of $1.06 per share for the quarter, down from their prior forecast of $1.08. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for First Republic Bank’s Q2 2018 earnings at $1.14 EPS, Q3 2018 earnings at $1.20 EPS, Q4 2018 earnings at $1.25 EPS, FY2018 earnings at $4.65 EPS and FY2019 earnings at $5.15 EPS.
First Republic Bank (NYSE:FRC) last issued its quarterly earnings results on Friday, October 13th. The bank reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). The business had revenue of $670.30 million for the quarter, compared to the consensus estimate of $678.25 million. First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. First Republic Bank’s revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 earnings per share.
Several other equities research analysts also recently commented on FRC. Piper Jaffray Companies set a $99.00 price objective on First Republic Bank and gave the company a “hold” rating in a report on Sunday, October 15th. Maxim Group reissued a “buy” rating and issued a $110.00 price objective on shares of First Republic Bank in a report on Thursday, January 4th. Barclays increased their price objective on First Republic Bank from $98.00 to $101.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Wells Fargo & Co cut their price objective on First Republic Bank from $100.00 to $95.00 and set a “market perform” rating for the company in a report on Monday, October 16th. Finally, BMO Capital Markets cut their price objective on First Republic Bank from $96.00 to $92.00 and set a “market perform” rating for the company in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $103.00.
Shares of First Republic Bank (NYSE:FRC) traded up $2.32 on Monday, hitting $92.31. 1,655,100 shares of the stock traded hands, compared to its average volume of 1,736,742. The company has a market cap of $14,150.00, a PE ratio of 21.77, a P/E/G ratio of 1.43 and a beta of 0.96. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.55. First Republic Bank has a one year low of $84.56 and a one year high of $105.52.
Several institutional investors and hedge funds have recently bought and sold shares of FRC. Parallel Advisors LLC lifted its holdings in shares of First Republic Bank by 21.4% during the second quarter. Parallel Advisors LLC now owns 1,317 shares of the bank’s stock worth $132,000 after buying an additional 232 shares in the last quarter. Zions Bancorporation acquired a new stake in shares of First Republic Bank during the third quarter worth $160,000. Peddock Capital Advisors LLC acquired a new stake in shares of First Republic Bank during the second quarter worth $180,000. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of First Republic Bank by 0.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock worth $195,000 after buying an additional 5 shares in the last quarter. Finally, Cigna Investments Inc. New acquired a new stake in shares of First Republic Bank during the second quarter worth $208,000. 98.75% of the stock is owned by institutional investors.
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First Republic Bank Company Profile
First Republic Bank 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.
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