First Republic Bank (NYSE:FRC) – Investment analysts at Piper Jaffray cut their Q2 2018 earnings per share (EPS) estimates for First Republic Bank in a report issued on Sunday, April 15th. Piper Jaffray analyst M. Clark now forecasts that the bank will post earnings per share of $1.17 for the quarter, down from their prior forecast of $1.19. Piper Jaffray also issued estimates for First Republic Bank’s Q3 2018 earnings at $1.27 EPS, Q4 2018 earnings at $1.28 EPS, FY2018 earnings at $4.86 EPS, Q1 2019 earnings at $1.23 EPS, Q2 2019 earnings at $1.41 EPS and Q4 2019 earnings at $1.56 EPS.
FRC has been the topic of several other research reports. UBS assumed coverage on shares of First Republic Bank in a research report on Wednesday, March 21st. They issued a “neutral” rating and a $100.00 price target on the stock. Barclays raised shares of First Republic Bank from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $93.00 to $110.00 in a research report on Tuesday, March 6th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of First Republic Bank in a research report on Wednesday, January 17th. Royal Bank of Canada reissued a “hold” rating and issued a $96.00 price target on shares of First Republic Bank in a research report on Friday. Finally, Maxim Group reissued a “buy” rating and issued a $110.00 price target on shares of First Republic Bank in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. First Republic Bank has a consensus rating of “Hold” and an average price target of $102.43.
FRC opened at $91.17 on Tuesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.96 and a current ratio of 0.97. The stock has a market capitalization of $14,418.94, a price-to-earnings ratio of 20.63, a P/E/G ratio of 1.51 and a beta of 0.82. First Republic Bank has a twelve month low of $84.56 and a twelve month high of $105.52.
First Republic Bank (NYSE:FRC) last released its earnings results on Friday, April 13th. The bank reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.07. The firm had revenue of $720.90 million for the quarter, compared to analysts’ expectations of $732.68 million. First Republic Bank had a net margin of 25.33% and a return on equity of 11.76%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 earnings per share.
Institutional investors have recently bought and sold shares of the stock. YorkBridge Wealth Partners LLC increased 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 worth $101,000 after acquiring an additional 1,121 shares during the period. Cerebellum GP LLC bought a new stake in First Republic Bank during the 4th quarter worth approximately $127,000. Intrust Bank NA bought a new stake in First Republic Bank during the 4th quarter worth approximately $203,000. Robeco Institutional Asset Management B.V. bought a new stake in First Republic Bank during the 4th quarter worth approximately $252,000. Finally, Calton & Associates Inc. bought a new stake in First Republic Bank during the 4th quarter worth approximately $269,000. 99.06% of the stock is currently owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Investors of record on Thursday, April 26th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Wednesday, April 25th. This is a positive change from First Republic Bank’s previous quarterly dividend of $0.17. First Republic Bank’s dividend payout ratio is 15.78%.
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First Republic Bank Company Profile
First Republic Bank, Inc engages in the provision of private banking, private business banking, and private wealth management, including investment, trust and brokerage services through its subsidiaries. Its services includes checking, savings, money market, online and mobile banking, automated teller machine (ATM) card and ATM/debit card, student loan refinancing, residential and personal lending, foreign exchange, business lending by industry, general business loans, commercial real estate and construction loans, business lines of credit, corporate online, treasury services, endowment management, and financial planning.
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