First Republic Bank (NYSE:FRC) posted its earnings results on Friday. The bank reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01), MarketWatch Earnings reports. First Republic Bank had a return on equity of 11.73% and a net margin of 24.80%. During the same period in the prior year, the firm earned $1.14 EPS.
Shares of FRC opened at $93.12 on Friday. The company has a market cap of $15.14 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 1.64 and a beta of 0.84. First Republic Bank has a twelve month low of $84.56 and a twelve month high of $106.75. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Thursday, October 25th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.77%. First Republic Bank’s dividend payout ratio is currently 16.71%.
A number of analysts recently issued reports on the company. Piper Jaffray Companies reissued a “hold” rating and set a $94.00 target price on shares of First Republic Bank in a research note on Tuesday. Wedbush reaffirmed an “outperform” rating on shares of First Republic Bank in a research note on Friday, July 13th. BMO Capital Markets raised their price target on shares of First Republic Bank from $96.00 to $102.00 and gave the stock a “market perform” rating in a research note on Friday, July 13th. Wells Fargo & Co raised their price target on shares of First Republic Bank from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Tuesday, June 26th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $96.00 price target on shares of First Republic Bank in a research note on Monday, July 16th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $102.54.
First Republic Bank Company Profile
First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas of the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers deposit products, such as checking, money market checking, savings, and passbook deposits, as well as certificates of deposit.
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