First Republic Bank (NYSE:FRC) – Analysts at FIG Partners increased their Q4 2017 earnings per share (EPS) estimates for First Republic Bank in a research note issued on Wednesday, Zacks Investment Research reports. FIG Partners analyst T. Coffey now forecasts that the bank will earn $1.41 per share for the quarter, up from their previous forecast of $1.22. FIG Partners also issued estimates for First Republic Bank’s FY2019 earnings at $6.13 EPS.
First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Tuesday, January 16th. The bank reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.05). First Republic Bank had a net margin of 26.02% and a return on equity of 11.80%. The firm had revenue of $699.20 million during the quarter, compared to analysts’ expectations of $688.48 million. During the same period in the prior year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis.
Several other brokerages have also recently issued reports on FRC. Barclays cut shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $108.00 to $104.00 in a report on Tuesday, October 10th. Jefferies Group restated a “buy” rating and issued a $111.00 target price on shares of First Republic Bank in a report on Thursday, October 19th. Zacks Investment Research cut shares of First Republic Bank from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Raymond James Financial lowered their target price on shares of First Republic Bank from $108.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, October 16th. Finally, Wells Fargo & Co lowered their target price on shares of 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $102.21.
Shares of First Republic Bank (NYSE FRC) traded up $0.32 during trading hours on Thursday, hitting $90.83. 1,135,623 shares of the company’s stock were exchanged, compared to its average volume of 1,714,855. First Republic Bank has a 52 week low of $84.56 and a 52 week high of $105.52. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $14,278.54, a P/E ratio of 21.07, a PEG ratio of 1.50 and a beta of 0.96.
Large investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. acquired a new stake in First Republic Bank during the 3rd quarter worth $388,000. CI Global Investments Inc. boosted its stake in First Republic Bank by 1,074.8% during the 2nd quarter. CI Global Investments Inc. now owns 6,238 shares of the bank’s stock worth $624,000 after purchasing an additional 5,707 shares during the period. California Capital Advisors Inc. acquired a new stake in First Republic Bank during the 3rd quarter worth $639,000. Eaton Vance Management boosted its stake in First Republic Bank by 1.5% during the 2nd quarter. Eaton Vance Management now owns 219,441 shares of the bank’s stock worth $21,966,000 after purchasing an additional 3,221 shares during the period. Finally, Prudential PLC boosted its stake in First Republic Bank by 77.1% during the 2nd quarter. Prudential PLC now owns 97,173 shares of the bank’s stock worth $9,727,000 after purchasing an additional 42,315 shares during the period. Hedge funds and other institutional investors own 98.29% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Thursday, January 25th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Wednesday, January 24th. First Republic Bank’s dividend payout ratio is currently 15.78%.
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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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