Analysts Anticipate First Republic Bank (FRC) to Post $1.05 EPS

Wall Street brokerages expect First Republic Bank (NYSE:FRC) to report $1.05 earnings per share for the current quarter, Zacks reports. Six analysts have made estimates for First Republic Bank’s earnings, with the highest EPS estimate coming in at $1.08 and the lowest estimate coming in at $1.01. First Republic Bank posted earnings of $1.01 per share in the same quarter last year, which suggests a positive year over year growth rate of 4%. The business is scheduled to issue its next earnings results on Thursday, April 12th.

On average, analysts expect that First Republic Bank will report full year earnings of $4.74 per share for the current year, with EPS estimates ranging from $4.65 to $4.85. For the next financial year, analysts forecast that the business will post earnings of $5.54 per share, with EPS estimates ranging from $5.05 to $5.82. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow First Republic Bank.

First Republic Bank (NYSE:FRC) last announced its earnings results on Tuesday, January 16th. The bank reported $1.10 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $699.20 million for the quarter, compared to analysts’ expectations of $688.48 million. During the same period in the prior year, the business earned $1.03 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year.

Several brokerages have recently issued reports on FRC. Zacks Investment Research lowered First Republic Bank from a “hold” rating to a “sell” rating in a research report on Monday, January 22nd. Keefe, Bruyette & Woods reissued a “hold” rating on shares of First Republic Bank in a report on Wednesday, January 17th. Royal Bank of Canada reissued a “hold” rating on shares of First Republic Bank in a report on Wednesday, January 17th. Sandler O’Neill reissued a “hold” rating and issued a $94.00 price objective on shares of First Republic Bank in a report on Wednesday, January 17th. Finally, 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. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. First Republic Bank currently has an average rating of “Hold” and a consensus price target of $101.54.

Shares of First Republic Bank (NYSE FRC) opened at $93.63 on Friday. First Republic Bank has a 12-month low of $84.56 and a 12-month high of $105.52. The stock has a market capitalization of $15,083.10, a price-to-earnings ratio of 21.72, a PEG ratio of 1.59 and a beta of 0.91. 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 business also recently announced a quarterly dividend, which was paid on Thursday, February 8th. Shareholders of record on Thursday, January 25th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Wednesday, January 24th. First Republic Bank’s payout ratio is presently 15.78%.

A number of hedge funds have recently bought and sold shares of FRC. YorkBridge Wealth Partners LLC grew its holdings in First Republic Bank by 3,865.5% during the 4th quarter. YorkBridge Wealth Partners LLC now owns 1,150 shares of the bank’s stock valued at $101,000 after buying an additional 1,121 shares in the last quarter. Cerebellum GP LLC purchased a new position in First Republic Bank during the 4th quarter valued at about $127,000. Zions Bancorporation purchased a new position in First Republic Bank during the 3rd quarter valued at about $160,000. Intrust Bank NA purchased a new position in First Republic Bank during the 4th quarter valued at about $203,000. Finally, Mawer Investment Management Ltd. purchased a new position in First Republic Bank during the 3rd quarter valued at about $209,000.

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About First Republic Bank

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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Earnings History and Estimates for First Republic Bank (NYSE:FRC)

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